429 10th St - Multi-Family FOR SALE


Sparks, NV 89431- Victorian Square
$1,150,000 USD
775-870-7142
429 10th St, Sparks, NV for Sale
$1,150,000 USD
Multi-Family - FOR SALE
1/26
null | 6.03% Cap Rate

429 10th St
Sparks, NV 89431
Victorian Square


HIGHLIGHTS

  • Extremely well kept units with upside rent potential
  • Desirable Victorian Square location
  • Turnkey 6.03% Cap Rate on Actuals

OVERVIEW

Five extremely well-maintained units in the heart of Victorian Square, one of Sparks's most vibrant and walkable neighborhoods. This property consists of two buildings on a single 0.16-acre parcel — a classic 1907 duplex and a 1982-built triplex — offering a strong unit mix and steady rental income at a 6% cap rate on actual rent and expenses. Excellent location and access to I-80. The Duplex — Originally built in 1907 with extensive updates, this charming single-story duplex has been thoughtfully updated while retaining its character. Unit A is a spacious 2-bed/1-bath at 1,081 square feet with in-unit laundry — the kind of generous layout tenants love and stay in. Unit B is a recently renovated studio with a new mini-split system, refinished shower and tub, new tile, bathroom fan, and fresh carpet - approximately $15K in improvements about a year ago. The roof is roughly five years old with new gutters. The Triplex — This two-story building houses three 2-bed/1.5-bath units, each with in-unit laundry. Unit 423 was fully renovated with new paint, flooring, carpet, mini-blinds, and LED lighting. The triplex received a new roof and driveway approximately one year ago, along with new exterior paint and gutters. $7,150 per Month Gross Scheduled Rent (Actual). 429A - 2bd/1ba $1,550 MTM (increase effective May 1). 429B - Studio $1,000 Expires June 2026. 421 - 2bd/1.5ba $1,500 MTM. 423 - 2bd/1.5ba $1,550 Expires Nov 2026. 425 - 2bd/1.5ba $1,550 Expires Apr 2027. Recent Capital Improvements: New roofs on both buildings, new rear driveway, new gutters, exterior repaint on triplex, full studio renovation with mini-split HVAC, paver walkway, artificial lawn with pavers and solar lighting, fencing reinforced with metal posts throughout including a new south-side fence, stump removal, and landscaping improvements. Sewer line replaced in 2014. An investor-ready property with recent capital improvements already completed, a solid rent roll, and room to grow rents on the MTM and shorter-term leases — all in a prime Sparks location steps from Victorian Square's restaurants, events, and entertainment. Full Offering Memorandum is available upon request.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$287 USD /SF

# OF UNITS

5

PRICE/UNIT

$230,000

CAP RATE

6.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

7

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

MUD

APN/PARCEL ID

032-142-04

ASK ABOUT THIS PROPERTY

Chris MotonMarmot PropertiesMore Info
775-870-7142

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Chris MotonMarmot PropertiesMore Info
775-870-7142

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