2151-2165 Patton Dr new Save Request In-Person Tour Request Virtual Tour
Reno,NV 89512
Key Details
Property Type Multi-Family
Sub Type Duplex, Triplex, 4-Plex
Listing Status Active
Purchase Type For Sale
Square Footage 6,816 sqft
Price per Sqft $212
MLS Listing ID 250005734
Bedrooms 3
Year Built 1964
Lot Size 0.320 Acres
Acres 0.32
Property Sub-Type Duplex, Triplex, 4-Plex
Property Description
Fully occupied 8-unit multi-family (2 4-plexes) with $119,460 gross income, $87,997 NOI, and 6.06% CAP rate. Each 4-plex on its own parcel, and qualifies conventional financing! Seller financing available with 50% down, terms negotiable. New roofs (2023/2025, with warranties), fresh exterior paint, updated windows/sliders, resealed parking lot. Some units with modern upgrades (granite counters, LVP flooring). Turnkey investment with strong cash flow! Units individually metered for Power & Gas. This premier 8-unit multi-family property is a high-performing investment, fully occupied with exceptional cash flow. Consisting of two 4-plexes, each on its own parcel, it qualifies for conventional financing—a rare advantage. The unit mix includes seven 2-bedroom/1.5-bath units and one 1-bedroom/1-bath unit, generating $119,460 in gross annual income, a Net Operating Income (NOI) of $87,997, and a 6.06% CAP rate, delivering strong returns for this market. Significant recent improvements add value: Building 2151-2157 received a new roof in October 2023 (25-year transferable warranty), and Building 2159-2165 had a new roof installed in March 2025 (20-year transferable warranty). The exterior was repainted in March-April 2025, the parking lot resealed/painted in June 2024, new gutters installed in April 2025, and new siding added to the back of 2151-2157 in April 2025. Nearly all windows (except two in Unit 2159) and all balcony sliders have been replaced. Two security cameras offer remote internet access. Select unit upgrades include: Unit 2165 with a full downstairs remodel and granite kitchen counters; Unit 2163 with new downstairs flooring (2025); Unit 2159 with new luxury LVP flooring in the living room (2025) and Unit 2155 had LVP installed two years ago. Seller financing enhances appeal: a 1st loan with 50%, terms negotiable. Seller may also consider a smaller 2nd loan, terms negotiable. The sale includes a property website domain and dedicated phone number for marketing ease if desired by the buyer. With robust income, recent upgrades, and flexible terms, this turnkey asset is perfect for investors seeking immediate returns and long-term growth.
Location
State NV
County Washoe
Zoning MF30
Interior
Heating Natural Gas,Forced Air
Cooling Natural Gas,Forced Air
Flooring Carpet,Laminate,Sheet Vinyl,Varies by Unit,Vinyl Tile
Appliance Oven/Range,Refrigerator
Laundry Hook-Up,Varies Per Unit
Exterior
Exterior Feature Brick,Wood Siding
Fence None
Utilities Available Cable,City Sewer,Electricity,Natural Gas,Telephone,Water Meter Installed,Well-Private,Internet Available,Cellular Coverage Avail
Roof Type Flat,Membrane
Total Parking Spaces 12
Building
Story 2 Story
Foundation Concrete Slab
Water Natural Gas
Level or Stories 2 Story
Structure Type Wood Frame
Schools
Elementary Schools Cannan
Middle Schools Traner
High Schools Hug
Others
Tax ID 00409312
SqFt Source 6816
Special Listing Condition None