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929 Wheeler Ave 5 Unit Apartment Building $1,200,000 ($240,000/Unit) 5.18% Cap Rate Reno, NV 89502
INVESTMENT HIGHLIGHTS
- Desirable Mid Town Location
- Remodeled in 2021
- Low Vacancy and Long Term tenants paying market rent
EXECUTIVE SUMMARY
This exceptional multi-unit property is located in the heart of vibrant Midtown Reno, a sought-after neighborhood known for its eclectic charm, walkability, and thriving community atmosphere. Perfectly suited for investors or owner-occupiers, this property offers both comfort and convenience.
Property can be sold with two other multi-unit buildings located in Mid-Town area:
512 Crampton St. Reno - $1.5M (6 units)
350-372 Wonder St. Reno - $2.6M (7 units)
Property can be sold with two other multi-unit buildings located in Mid-Town area:
512 Crampton St. Reno - $1.5M (6 units)
350-372 Wonder St. Reno - $2.6M (7 units)
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $240,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,222 SF |
| Cap Rate | 5.18% | Average Occupancy | 100% |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 2 |
| Gross Rent Multiplier | 19 | Year Built/Renovated | 1932/2021 |
| No. Units | 5 | Parking Ratio | 1.55/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | MF30 - Multi-Family Residential (30 units/ acre) | ||
| Price | $1,200,000 |
| Price Per Unit | $240,000 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 19 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.16 AC |
| Building Size | 3,222 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1932/2021 |
| Parking Ratio | 1.55/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF30 - Multi-Family Residential (30 units/ acre) |
AMENITIES
SITE AMENITIES
- Courtyard
- Fenced Lot
- Pet Play Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 538 |
| 2+1 | 1 | - | 1,072 |
1 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 013-161-08 | Improvements Assessment | $38,522 (2026) |
| Land Assessment | $77,000 (2026) | Total Assessment | $115,522 (2026) |
PROPERTY TAXES
Parcel Number
013-161-08
Land Assessment
$77,000 (2026)
Improvements Assessment
$38,522 (2026)
Total Assessment
$115,522 (2026)
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929 Wheeler Ave
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