Nicolle Gust

REALTOR® | NV BS.NV BS.0145471

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$ 1,250,000

$ 1,395,000 10.4%

Est. payment -/mo

Sold on 07/25/2025

2151-2165 Patton DR Reno, NV 89512

6,816 SqFt

UPDATED:

Key Details

Sold Price $1,250,000

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Sold

Purchase Type For Sale

Square Footage 6,816 sqft

Price per Sqft $183

Subdivision Garden Hill 2

MLS Listing ID 250005734

Year Built 1964

Annual Tax Amount $2,486

Lot Size 0.320 Acres

Property Sub-Type Quadruplex

Property Description

Fully occupied 8-unit multi-family (2 4-plexes) with $119,460 gross income, $84,545.81 NOI, and 5.83% CAP rate. Each 4-plex on its own parcel, and qualifies for 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 $84,545.81, and a 5.83% 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

Community Garden Hill 2

Area Garden Hill 2

Zoning MF30

Interior

Heating Forced Air, Natural Gas

Flooring Vinyl

Laundry Washer Hookup, Varies By Unit

Exterior

Exterior Feature Balcony, Rain Gutters

Parking Features Assigned, Common

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Water Meter Installed, Varies By Unit

View Y/N No

Roof Type Flat,Membrane

Building

Lot Description Other

Story 2

Foundation Slab

Water Public

Structure Type Brick,Frame,Wood Siding

Schools

Elementary Schools Cannan

Middle Schools Traner

High Schools Hug

Others

Acceptable Financing 1031 Exchange, Cash, Conventional, Owner May Carry, Owner May Carry 2nd

Listing Terms 1031 Exchange, Cash, Conventional, Owner May Carry, Owner May Carry 2nd

Listed by RE/MAX Gold

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Phone

+1(775) 338-9988

ngust@chaseinternational.com

Address

985 Damonte Ranch Parkway # 110, Reno, NV, 89521, United States

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