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1311 Terrace Dr 7 Unit Apartment Building $1,575,166 CAD ($225,024 CAD/Unit) 6.24% Cap Rate Reno, NV 89503
Executive Summary
Prime UNR Triplex - Fully Renovated, Fully Leased, Turnkey Investment Just one block from the University of Nevada, Reno. This beautifully renovated triplex delivers modern living, strong rental demand, and reliable income from day one. Renovations were completed in 2019. The property offers 7 bedrooms, 5 bathrooms, and onsite and street parking, making it an exceptional opportunity in one of Reno's most sought after rental neighborhoods. Each unit has been thoughtfully updated with low maintenance LVP flooring, stainless steel appliances, modern kitchens and bathrooms, washer and dryers and efficient mini split HVAC systems. Residents enjoy inviting outdoor spaces as well, including a welcoming front porch and a shared patio ideal for relaxing or gathering with friends. Parking for 7 vehicles is included. This is a true turnkey investment: All units are currently tenant occupied. Leases for all three units for the 2026-27 term are already signed. APOD available upon request. Renovation work included fire alarm and fire sprinklers throughout the property. Showings are by appointment only and subject to tenant schedules. 24 hr notice required. Properties this close to campus with modern finishes and stable tenancy rarely come to market. A smart addition to any portfolio.
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- Operating and Financials
Property Facts
| Price | $1,575,166 CAD | Building Class | C |
| Price Per Unit | $225,024 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,293 SF |
| Cap Rate | 6.24% | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.19 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1927/2019 |
| Property Type | Multifamily | Parking Ratio | 2.13/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MU - Mixed Use Urban | ||
| Price | $1,575,166 CAD |
| Price Per Unit | $225,024 CAD |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| Gross Rent Multiplier | 14.19 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,293 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2019 |
| Parking Ratio | 2.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MU - Mixed Use Urban |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $3,835 CAD | - |
| 2+1 | 2 | $2,705 CAD | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 007-123-09 | Improvements Assessment | $117,186 CAD |
| Land Assessment | $83,639 CAD | Total Assessment | $200,826 CAD |
Property Taxes
Parcel Number
007-123-09
Land Assessment
$83,639 CAD
Improvements Assessment
$117,186 CAD
Total Assessment
$200,826 CAD
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1311 Terrace Dr
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