3890 Neil Rd 15 Unit Apartment Building $3,690,000 ($246,000/Unit) 5.03% Cap Rate Reno, NV 89502

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.