437 Pyramid Way, Sparks, NV 89431

Nicely remodeled pair of homes on single parcel offers investors or live/work owners a variety of opportunities. Zoned for Sparks's versatile mixed-use district. Main unit sits on Pyramid Highway and is passed by approximately 25,000 vehicles per day. Great signage already in place. Attractive home/office with beautiful lathe and plaster, antique wood floors in good condition, remodeled bathroom and kitchen, fresh paint, and good storage in unfinished basement. , Parking area in rear with access from Pyramid. Rear unit has separate alley access, a garage, nice remodel, a mini-split unit for cooling, and current tenants. Rent for 1-bedroom unit is based on existing lease. Lease expires June 30, 2023. Both units are on same water meter, but are individually metered for gas and electricity. Rent for 2-bedroom unit is pro forma rent assuming commercial use, but could be a residential use if desired. Walking distance to shopping and entertainment of Victorian Square and close to freeway access and job centers. Pro forma cap rate of 6.9% based upon actual rent of $1,200 per month for 437 1/2 Pyramid and estimated pro forma rent of $2,200 per month for 437 Pyramid. Assuming 6% vacancy, $6,161 annual expenses (including 5% maintenance reserve of annual gross rent), for a NOI of $32,190 per year. Buyers are encouraged to reach their own assumptions on income and expenses for property.