512 Pyramid Way Sparks, NV 89431
- Residential income homes
- 1,760 SF
Current Use by Public Records
- Residential income homes
Property Details for 512 Pyramid Way
- Year built
- 1927
- Property size
- 1,760 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional investment opportunity presents a stabilized, two-unit multifamily property ideally situated in the heart of downtown Sparks, Nevada. The property consists of two units: a one-bedroom, one-bathroom unit and a two-bedroom, one-bathroom unit, totaling 1,760 square feet. A detached 200-square-foot garage is also included. Built in 1927, this Class C property boasts 100% occupancy and benefits from government-assisted rents, offering potential for future market rate increases. The property's prime location provides easy walking access to numerous local attractions, including the Farmers' Market, Rib Cook-off, concerts, a movie theater, and breweries. Currently priced at $575,000, this represents a compelling value with a price per square foot of $326.70 and a price per unit of $287,500. The property is zoned "mud" and is offered for sale by owner, presenting a rare chance to acquire a stable, high-performing investment in a vibrant and growing Nevada community. The property is not subject to a ground lease.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Washoe
- State
- Nevada
- Longitude
- -119.752623
- Latitude
- 39.5381391
