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Dave Lass

dave@liverenotahoe.com +1(775) 531-8410

$ 1,150,000

Est. payment -/mo

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429 10th ST Sparks, NV 89431

4,009 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,009 sqft

Price per Sqft $286

Subdivision Prater Addition To Sparks

MLS Listing ID 260004965

Year Built 1982

Annual Tax Amount $3,660

Lot Size 6,970 Sqft

Acres 0.16

Lot Dimensions 0.16

Property Sub-Type Multi Family

Property Description

Five extremely well-maintained units in the heart of Victorian Square, one of Sparks's most vibrant and walkable neighborhoods. This property consists of two buildings on a single 0.16-acre parcel — a classic 1907 duplex and a 1982-built triplex — offering a strong unit mix and steady rental income at a 6% cap rate on actual rent and expenses. Excellent location and access to I-80. The Duplex — Originally built in 1907 with extensive updates, this charming single-story duplex has been thoughtfully updated while retaining its character. Unit A is a spacious 2-bed/1-bath at 1,081 square feet with in-unit laundry — the kind of generous layout tenants love and stay in. Unit B is a recently renovated studio with a new mini-split system, refinished shower and tub, new tile, bathroom fan, and fresh carpet - approximately $15K in improvements about a year ago. The roof is roughly five years old with new gutters. The Triplex — This two-story building houses three 2-bed/1.5-bath units, each with in-unit laundry. Unit 423 was fully renovated with new paint, flooring, carpet, mini-blinds, and LED lighting. The triplex received a new roof and driveway approximately one year ago, along with new exterior paint and gutters. $7,150 per Month Gross Scheduled Rent (Actual). 429A - 2bd/1ba $1,550 MTM (increase effective May 1). 429B - Studio $1,000 Expires June 2026. 421 - 2bd/1.5ba $1,500 MTM. 423 - 2bd/1.5ba $1,550 Expires Nov 2026. 425 - 2bd/1.5ba $1,550 Expires Apr 2027. Recent Capital Improvements: New roofs on both buildings, new rear driveway, new gutters, exterior repaint on triplex, full studio renovation with mini-split HVAC, paver walkway, artificial lawn with pavers and solar lighting, fencing reinforced with metal posts throughout including a new south-side fence, stump removal, and landscaping improvements. Sewer line replaced in 2014. An investor-ready property with recent capital improvements already completed, a solid rent roll, and room to grow rents on the MTM and shorter-term leases — all in a prime Sparks location steps from Victorian Square's restaurants, events, and entertainment. Full Offering Memorandum is available upon request.

Location

State NV

County Washoe

Community Prater Addition To Sparks

Area Prater Addition To Sparks

Zoning MUD

Interior

Heating Forced Air, Natural Gas, Wall Furnace

Cooling Central Air, Electric, Wall/Window Unit(s)

Flooring Tile

Fireplace No

Laundry In Unit, Varies By Unit

Exterior

Parking Features Off Street, On Site, Paved

Utilities Available Cable Connected, Electricity Connected, Internet Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

Roof Type Composition,Pitched,Shingle

Garage No

Building

Lot Description Landscaped, Level

Story 2

Foundation Crawl Space

Water Public

Structure Type Frame,Wood Siding

Others

Tax ID 032-142-04

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Listed by Marmot Properties, LLC

Dave Lass

Agent | License ID: S.197317 l DRE. 02319818

+1(775) 531-8410

Dave Lass

429 10th ST Sparks, NV 89431

Key Details

Location

Interior

Exterior

Building

Others

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429 10th ST