$1,600,000
$1,600,000
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5,280 SqFt
SOLD DATE : 12/16/2025
Key Details
Sold Price $1,600,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,280 sqft
Price per Sqft $303
Subdivision Reno Foothills 1
MLS Listing ID 250057305
Sold Date 12/16/25
Year Built 1986
Annual Tax Amount $4,615
Lot Size 10,575 Sqft
Acres 0.24
Lot Dimensions 0.24
Property Sub-Type Multi Family
Property Description
Fully occupied 8-unit multifamily investment near UNR. 3601 Gypsum Rd delivers strong in-place income with immediate upside through below-market rents. Current annual income 106 K with low 23 percent expense ratio and 81K NOI. Attractive seller financing available — 300 K down, 5 percent interest, 30-year amortization, 5-year balloon. Unit mix: (4) 1-bed / 1-bath and (4) 2-bed / 1-bath. Rents average 200-300 dollars below market, creating significant growth potential once updated. Prime North Reno location minutes from UNR, downtown, and I-80. Rare turnkey opportunity offering stability, cash flow, and value-add potential.
Location
State NV
County Washoe
Community Reno Foothills 1
Area Reno Foothills 1
Zoning MF30
Interior
Heating Baseboard
Flooring Vinyl
Laundry In Unit
Exterior
Parking Features On Site, Parking Lot
Utilities Available Natural Gas Connected, Water Connected, Water Meter Installed
View Y/N No
Roof Type Shingle
Garage No
Building
Lot Description Corner Lot, Sloped Up
Story 2
Foundation Slab
Water Public
Structure Type Frame,Stucco,Wood Siding
Others
Tax ID 003-234-14
Acceptable Financing Owner May Carry
Listing Terms Owner May Carry
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