Current Use by Public Records
- Residential income homes
Property Details for 3913 Clear Acre Ln
- Year built
- 1979
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a fully leased, eight-unit multifamily portfolio situated in Reno, Nevada. The property comprises eight buildings, each a two-story structure, offering a mix of seven one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit. Total net rentable square footage is 5,603 square feet, with individual unit sizes ranging from 650 to 963 square feet. Built in 1979 and extensively renovated in 2020, the property boasts updated features including luxury vinyl plank (LVP) flooring and modern cabinets throughout. Currently operating at 100% occupancy, the portfolio generates a strong net operating income (NOI) of $71,786, resulting in a compelling 5.54% capitalization rate. The asking price is $1,295,000, translating to $161,875 per unit. The property is zoned for multifamily use (MF) and is located across multiple addresses in the 89512 zip code, within Washoe County. This stabilized investment offers a rare opportunity to acquire a high-performing rental portfolio in a desirable Reno location. The property's strong performance and recent renovations make it an attractive option for investors seeking immediate cash flow and long-term appreciation potential. All units are currently occupied, and prospective buyers are asked to refrain from disturbing the tenants.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.783
- Latitude
- 39.5648
