10-Unit Apartment
For Sale
Contact for pricing
929 WILLOW ST, Reno, NV 89502
All residences offer one bedroom and one bathroom within a workforce-housing configuration.
Property Size4,872 SF
Price / SF$318.14
Days on Market103
Property Features for 929 WILLOW ST
General Information
Standard status
Active
Size
4,872 SF
Class
C
Property subtype
Multifamily, Mixed Use
Zoning
MU
Occupancy
100%
Net Operating Income
$77,787
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
10 x 1BR/1BA
Multifamily Units
10
Building Details
Year Built
1966
Buildings
1
Stories
2
Units
10
Listing Agency:
CBRE Reno
Listed By:
Ben Galles · License #47543
(775) 750-6429
Source:
Crexi
Added: Jul 6
Changed: Oct 7
Last Checked: Oct 16 at 7:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE Reno
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Investment Insights
Based on property information with market context.
This 4,872-square-foot apartment property contains 10 units, each configured with one bedroom and one bathroom. Constructed in 1966, the building is positioned for exterior renovations and interior remodeling as part of its current improvement plan. The MU zoning designation supports its multifamily use.
The property is in Reno, Nevada, with access to Mill Street, Renown Medical Center, and Interstate 80. Its unit mix provides a consistent residential format across the building, with every apartment offering the same one-bedroom, one-bathroom layout. The workforce-housing configuration and identified renovation scope define the asset’s current operating profile.
The property is in Reno, Nevada, with access to Mill Street, Renown Medical Center, and Interstate 80. Its unit mix provides a consistent residential format across the building, with every apartment offering the same one-bedroom, one-bathroom layout. The workforce-housing configuration and identified renovation scope define the asset’s current operating profile.
Key Highlights
- 10‑unit apartment property in Reno, Nevada
- All units are one‑bedroom, one‑bathroom residences
- 4,872 square feet of apartment space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,952
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,259,040
$1.3M
Cap Rate 7%
$899,314
$899.3K
Cap Rate 9%
$699,467
$699.5K
Market Conditions
NOI Build-Up for 4,872 SF
Gross rent
$119.9K $24.60/SF
− Vacancy
−$5.4K −$1.11/SF
EGI
$114.5K $23.49/SF
− OpEx
−$51.5K −$10.57/SF
NOI
$63.0K $12.92/SF
Area
Reno, NV
Vacancy
4.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,259,040
Cap Rate 7%
$899,314
Cap Rate 9%
$699,467
Alternative Uses
Best Use
Apartment 5plus
$899.3K
$786.9K – $1.05M
NOI $62,952 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,104 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - All residences offer one bedroom and one bathroom within a workforce-housing configuration.
Where is this apartment building located?
The property is located at 929 WILLOW ST Reno, NV.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 10‑unit apartment property in Reno, Nevada; All units are one‑bedroom, one‑bathroom residences; 4,872 square feet of apartment space
