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Kerry Herdt

kerry@shnevada.com +1(925) 321-8042

$ 1,450,000

Est. payment -/mo

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Active

2151-2165 Patton DR Drive Reno, NV 89512

6,816 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,816 sqft

Price per Sqft $212

Subdivision Garden Hill 2

MLS Listing ID 250005734

Year Built 1964

Annual Tax Amount $2,486

Lot Size 0.320 Acres

Acres 0.32

Lot Dimensions 0.32

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

Direction Tripp Dr & Patton Dr

Interior

Heating Forced Air, Natural Gas

Flooring Vinyl

Laundry Washer Hookup, Varies By Unit

Exterior

Exterior Feature Balcony

Parking Features Common

Utilities Available Cable Available, Electricity Available, Internet Available, Natural Gas Available, Phone Available, Sewer Available, Water Available, Cellular Coverage, Water Meter Installed

View Y/N No

Roof Type Flat,Membrane

Garage No

Building

Story 2

Foundation Slab

Water Private, Well

Structure Type Brick,Frame,Wood Siding

Schools

Elementary Schools Cannan

Middle Schools Traner

High Schools Hug

Others

Tax ID 00409312

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

+1(925) 321-8042

kerry@shnevada.com

5325 Reno Corporate Dr, Suite 100, Reno, NV, 89509, United States