437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
437 Pyramid Way
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Sold

437 Pyramid Way

437 Pyramid Way, Sparks, NV 89431

$470,000
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.

Studio

1,712 Sq.Ft. LIVING AREA

5,227.2 Sq.Ft. lot

Claudia Thompson

Claudia Thompson

Features & Amenities

Interior

  • total bedrooms0
  • Laundry room In Garage, Washer Hookup, Varies By Unit
  • Flooring Carpet, Ceramic Tile, Wood
  • APPLIANCES Oven, Disposal, Dryer, Gas Range, Refrigerator, Washer
  • other interior Features Smart Thermostat

Area & Lot

  • Status Sold
  • Living Area1,712 Sq.Ft.
  • Lot Area5,227.2 Sq.Ft.
  • MLS® ID230003638
  • TypeMulti-Family
  • YEAR BUILT1905
  • Elementary SchoolMitchell
  • Middle SchoolSparks
  • High SchoolSparks

Exterior

  • STORIES1
  • water SourcePublic
  • utilitiesCable Available, Electricity Available, Internet Available, Natural Gas Available, Phone Available, Sewer Available, Water Available, Cellular Coverage, Water Meter Installed
  • roofComposition, Pitched, Shingle
  • lot featuresLandscaped, Sprinklers In Front
  • parkingAlley Access, Assigned, Attached, Garage, Garage Door Opener, Varies by Unit, None
  • HEAT TYPEElectric, Forced Air, Natural Gas, Varies By Unit
  • AIR CONDITIONINGCentral Air, Electric, Refrigerated, Wall/Window Unit(s), Varies By Unit
  • sewerPublic Sewer
  • SubstructureCrawl Space
  • security FeaturesSmoke Detector(s)

Financial

  • Sales Price$470,000
  • Real Estate Tax $968/yr
  • Zoning MUD-MR
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Work With Claudia

Claudia's expertise in the luxury real estate market is derived from a unique set of business experiences. Like so many, she came to the Tahoe area, fell in love with the mountains, the lake, and the lifestyle and stayed to raise a family and launch her career.

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