306 E Taylor St
Eight-unit multifamily investment property in downtown Reno, Nevada, offered at $2,150,000 at a 4.74% cap rate. The Class C asset, built in 1985 and comprising 4,032 SF across two stories, is positioned in an infill location minutes from Downtown Reno, the University of Nevada, and major employment centers, with strong rental demand and value-add potential through interior renovations and operational improvements.
The property sits on a 0.16-acre parcel zoned MF30 with parking at 1.24 spaces per 1,000 SF. The eight-unit configuration provides stable in-place income while offering upside through unit-level upgrades and rental rate growth. The location benefits from proximity to public transportation, commuter rail, airport access, and bus lines, supporting consistent tenant demand in a market where housing affordability and limited new multifamily supply in established neighborhoods continue to drive investor interest. Ongoing population growth in the Reno-Sparks market and the scarcity of new development in infill areas enhance long-term appreciation potential.
- Eight-unit Class C multifamily in downtown Reno infill location
- 4.74% cap rate with stable in-place income
- Value-add opportunity through interior renovations and operational improvements
- Strong rental demand driven by housing affordability and limited new supply
- Proximity to University of Nevada, Downtown Reno, and major employment hubs
- Public transportation and commuter rail access
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Location
306 E. Taylor Street offers an excellent opportunity to acquire an eight-unit multifamily investment property in the heart of Reno, Nevada. Ideally situated just minutes from Downtown Reno, the University of Nevada, and major employment hubs, the property benefits from a highly desirable location with strong and consistent rental demand. The asset provides stable in-place income while offering significant value-add potential through interior renovations, operational improvements, and future rental growth.
As housing affordability continues to drive demand for quality workforce housing across Northern Nevada, well-located multifamily properties of this size remain in limited supply and are highly attractive to both private investors and owner-operators. Ongoing population growth, coupled with a shortage of new multifamily development in established infill neighborhoods throughout the Reno-Sparks market, further enhances the property's long-term investment appeal. Whether acquired as a cash-flowing hold or repositioned through a renovation strategy to maximize rental income, 306 E. Taylor Street presents a compelling opportunity for immediate returns and long-term value appreciation in one of the fastest-growing markets in the western United States.