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929 Willow St 10 Unit Apartment Building $1,550,000 ($155,000/Unit) 5.76% Cap Rate Reno, NV 89502
Investment Highlights
- Close to the Renown Medical District
- Located in the Renown Medical District
- Value add deal - upside in rents
Executive Summary
The Willow Street Apartments feature 10-units consisting of all one bedroom one bathroom workforce housing units. The property is located in Reno, NV with excellent access to Mill Street, Renown Medical Center, and Interstate 80. This value-add deal has upside in rents once exterior renovations and interior remodels are complete. Current rents are well below market.
Multifamily property owners continue to see rising rental rates from the shrinking supply, increased demand, and incoming major employers. Investors buying in Nevada benefit from competitive cap rates, landlord-friendly laws, and Nevada’s lack of a state income tax.
Multifamily property owners continue to see rising rental rates from the shrinking supply, increased demand, and incoming major employers. Investors buying in Nevada benefit from competitive cap rates, landlord-friendly laws, and Nevada’s lack of a state income tax.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,550,000 | Building Class | C |
| Price Per Unit | $155,000 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,872 SF |
| Cap Rate | 5.76% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.64/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MU - Mixed Use | ||
| Price | $1,550,000 |
| Price Per Unit | $155,000 |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,872 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.64/1,000 SF |
| Zoning | MU - Mixed Use |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $961.50 | 487 |
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Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 012-143-50 | Total Assessment | $147,218 (2026) |
| Land Assessment | $105,000 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $42,218 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
012-143-50
Land Assessment
$105,000 (2026)
Improvements Assessment
$42,218 (2026)
Total Assessment
$147,218 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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