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31461394
31461395

3890 Neil Rd, Reno, NV 89502 For Sale

GL
CHASE International
Listed by CHASE International
$3,690,000
115 days on market
Updated 115 days ago

Neil Road Apartments

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,075
Net Rentable (SqFt) 13,075
Units 15
Cap Rate 5.04%
NOI $186,000
Occupancy 100%
Price per SqFt $282
Class C
Year Built 1969
Buildings 8
Stories 1
Acreage 0.990
Zoning ME
Investment Type Stabilized
Sale Condition 1031 exchange

Multifamily | 15 Units | $246,000/unit

Marketing description

Positioned in a high-demand rental corridor of Reno, 3890 Neil Rd presents a rare, income-producing mixed-use opportunity with strong fundamentals and long-term upside. The property consists of 7 duplexes (14 total units), a convenience store, and a maintenance shop, all situated on a 0.99-acre parcel with Mixed-Employment zoning. Each residential unit is a single-level 2-bedroom, 1-bath layout in 840 SF. The property has maintained historically low vacancy, driven by its highly accessible location near Reno-Tahoe International Airport, Highway 580, and major retail and employment centers including the Meadowood Mall and surrounding amenities. Tenants benefit from covered carport parking, functional floor plans, and proximity to key infrastructure, making this an easy-to-rent, stable asset in a growing market.With its combination of residential income, commercial component, and favorable zoning, this property is ideal for investors seeking immediate cash flow in one of Reno’s most active submarkets.

Listing Contacts

GL
CHASE International
Listed by CHASE International

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$186,000.00
$15,500.00/mo

Valuation Metrics

0
DSCR
5.04%
Cap Rate
5.04%
ROI

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Additional Information

Name
Gabriel Larkins
License
NV62147
Brokerage
Nevada Real Estate Connections
Brokerage Phone
7753781371
Title
Realtor
Brokerage Address
1940 Foothill Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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