251 E Arroyo St - Apartments FOR SALE


Reno, NV 89502- Midtown Reno
$1,400,000 USD
775-450-7994
251 E Arroyo St, Reno, NV for Sale
$1,400,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

251 E Arroyo St
Reno, NV 89502
Midtown Reno


HIGHLIGHTS

  • shared laundry area
  • upgrades including newer roofs on both buildings, vinyl windows, furnace, hot water heater, and additional system improvements.
  • Great Location

OVERVIEW

Exceptional investment opportunity in the heart of Midtown Reno. This well-maintained 6-unit multi-family property offers the perfect blend of character, location, and long-term upside just moments from Wells Avenue, local restaurants, coffee shops, boutiques, and some of Reno's most vibrant neighborhood amenities. The property consists of a charming brick building featuring four 1-bedroom units, plus a separate 2-story duplex off the alley with two spacious 2-bedroom units and off-street parking. Ownership has continued to thoughtfully maintain and improve the property over time, with upgrades including newer roofs on both buildings, vinyl windows, furnace, hot water heater, and additional system improvements. Additional features include a shared laundry area, bike storage, and an unfinished basement offering additional storage space not included in the square footage. With one 2-bedroom unit and one 1-bedroom unit currently vacant, investors have immediate flexibility for market-rate leasing, owner-occupancy potential, or future value-add opportunities. Located in one of Reno's most walkable and rapidly evolving neighborhoods, this is a rare chance to own a multi-unit asset in highly desirable Midtown Reno with strong rental appeal and future growth potential.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$361 USD /SF

# OF UNITS

6

PRICE/UNIT

$233,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

CC

APN/PARCEL ID

014-073-15

ASK ABOUT THIS PROPERTY

Dilyn RookerMarmot PropertiesMore Info
775-450-7994

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Dilyn RookerMarmot PropertiesMore Info
775-450-7994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.