Homes for sale - 2151-2165 Patton Dr, Reno, NV 89512

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Jaret & Kristi Ghent

ghentteam@gmail.com +1(833) 567-7653

$1,450,000

Est. payment - /mo

3 Beds

2 Baths

6,816 SqFt

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UPDATED:

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

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Listed by RE/MAX Gold

_Our #1 priority is to find and attract mastery-based agents to partner with, protect our culture, and support our clients needs and desires."

+1(833) 567-7653

ghentteam@gmail.com

2151-2165 Patton Dr Reno, NV 89512