629 Sinclair StReno, NV 89501

Property Details for 629 Sinclair St

Lot size

0.32 AC

Property size (Sq ft)

5,062 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional Reno, Nevada multifamily investment presents a compelling opportunity to acquire a portfolio of six buildings comprising seven units. Located on a 0.32-acre lot at 629 Sinclair St (APN 011-233-07 & 011-233-08), this stabilized, Class B property offers a diverse unit mix within a highly desirable Midtown location. Built between 1914 and 1940, the buildings boast a combined 5,062 square feet and benefit from permitted MUMC zoning. The current Net Operating Income (NOI) is $88,076, yielding a 5.87% cap rate. A pro-forma NOI of $99,656 projects a 6.64% cap rate, indicating significant value-add potential. The asking price is $1,500,000, translating to $214,285.71 per unit and $296.33 per square foot. This portfolio offers convenient access to downtown Reno's amenities and the airport, making it an attractive investment for both seasoned and emerging investors. The property's strategic location, diverse unit mix, and historic charm combine to create a unique and promising investment opportunity in a thriving Reno neighborhood. Each building offers ample living space and covered storage. While individual sales may be possible, the bundled portfolio offers significant advantages.

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5201

Longitude

-119.807

FAQs

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