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204 Moran St - Moran Sinclair 3 Unit Apartment Building Offered at $1,225,000 at a 3.81% Cap Rate Reno, NV 89501
EXECUTIVE SUMMARY
Rare Midtown Reno Investment Opportunity! Nestled on the iconic corner of Moran & Sinclair, this property presents a truly unique chance to own three single-family homes on one parcel in one of Reno's most sought-after neighborhoods. 204 Moran Street - 3 bedrooms, 1.5 bathrooms. Thoughtfully updated while preserving 1920s charm. The fully finished basement includes two bonus units, offering the possibility of additional rental income with a few updates needed to meet code. 610 Sinclair Street - 2 bedrooms, 2 bathrooms. Stylishly updated and move-in ready. 618 Sinclair Street - A character-rich 1920s home with endless potential to restore or reimagine. 2 bedrooms and 1.5 bathrooms and a spacious unfinished basement! This investment offers incredible upside: maximize ROI by bringing the basement units online, or explore the potential to subdivide into three separate parcels. Surrounded by Midtown's best dining, shopping, and entertainment, the location is second to none. Opportunities like this rarely come available—whether you're looking to invest, develop, or create a unique live-rent mix, this Midtown corner delivers unmatched potential. There are 3 addresses included in this parcel: 204 Moran, 610 Sinclair and 618 Sinclair. 3 units with potential for 2 additional units. 204 Moran & 618 Sinclair are rented month to month. 610 Sinclair Available to show through Showingtime. Showings on 204 Moran/618 Sinclair are subject to accepted offer. Contact listing agent for information on the financials, associated documents and 360 tours and floorplans.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$65,400
|
$17.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$65,400
|
$17.02
|
| Taxes |
$2,715
|
$0.71
|
| Operating Expenses |
$16,000
|
$4.16
|
| Total Expenses |
$18,715
|
$4.87
|
| Net Operating Income |
$46,685
|
$12.15
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $65,400 |
| Annual Per SF | $17.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $65,400 |
| Annual Per SF | $17.02 |
| Taxes | |
|---|---|
| Annual | $2,715 |
| Annual Per SF | $0.71 |
| Operating Expenses | |
|---|---|
| Annual | $16,000 |
| Annual Per SF | $4.16 |
| Total Expenses | |
|---|---|
| Annual | $18,715 |
| Annual Per SF | $4.87 |
| Net Operating Income | |
|---|---|
| Annual | $46,685 |
| Annual Per SF | $12.15 |
PROPERTY FACTS
| Price | $1,225,000 | Property Type | Multifamily |
| Price Per Unit | $408,333 | Apartment Style | Single-Family Home |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 3.81% | Building Size | 3,843 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| Gross Rent Multiplier | 18.73 | Year Built/Renovated | 1922/2019 |
| No. Units | 3 | Opportunity Zone |
Yes
|
| Zoning | MU-MC | ||
| Price | $1,225,000 |
| Price Per Unit | $408,333 |
| Sale Type | Investment |
| Cap Rate | 3.81% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 18.73 |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Single-Family Home |
| Lot Size | 0.15 AC |
| Building Size | 3,843 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1922/2019 |
| Opportunity Zone |
Yes |
| Zoning | MU-MC |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Crown Molding
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Basement
- Built-In Bookshelves
- Dining Room
- Double Pane Windows
- Family Room
- Linen Closet
- Office
- Patio
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Furnished Units Available
- Trash Pickup - Door to Door
- Wi-Fi
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 2 | $1,825 | 1,407 - 1,500 |
| 2+2 | 1 | $2,200 | 936 |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 011-235-01 | Total Assessment | $122,043 (2025) |
| Land Assessment | $64,750 (2025) | Annual Taxes | $2,715 ($0.71/SF) |
| Improvements Assessment | $57,293 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
011-235-01
Land Assessment
$64,750 (2025)
Improvements Assessment
$57,293 (2025)
Total Assessment
$122,043 (2025)
Annual Taxes
$2,715 ($0.71/SF)
Tax Year
2024
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204 Moran St - Moran Sinclair
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