BEDS4
BATHS3
SQUARE FEET2,040
MLS#260007966
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONUniversity Terrace
Property Description
LOCATION LOCATION LOCATION! This 3-unit multifamily property is gleaming with potential. Ideally located within walking distance of the University of Nevada, Reno and Downtown Reno, making it highly attractive to students, professionals, and renters alike. Each unit features its own private entrance, providing added privacy and appeal. The charming detached 1-bedroom, 1-bath cottage offers a generous side yard complete with raised garden beds and lots of space to play. The upstairs unit is a move-in-ready 2-bedroom, 1-bath with plenty of natural light and comfortable living space. The downstairs unit is a spacious 1-bedroom, 1-bath featuring an oversized bedroom and is currently vacant while undergoing cosmetic improvements. With a little vision and finishing touches, this property has the potential to achieve an estimated 7% CAP rate - an increasingly rare opportunity in today's market. Whether you're looking to expand your portfolio, house-hack, or invest in a high-demand rental area, this property checks all the boxes. Don't miss your chance, this one won't last long! Agents, please read private remarks.
Property Features
Property Type: Multi Unit - Multiple
Heating: Forced Air, Oil
Lot Size: 0.09 Acres
Roof Type: Pitched, Shingle
Taxes: $1,188
Year Built: 1941
Units
Studio Units:
Bathroom(s): 1
Rent: $1275.00
Square Footage: 852
Total Units: 3
1 Bedroom Units:
Bathroom(s): 1
Rent: $915.00
Square Footage: 448
Total Units: 3
2 Bedroom Units:
Bathroom(s): 1
Square Footage: 740
Total Units: 3
3 Bedroom Units:
Feature Descriptions
Appliances: Dryer, Dishwasher, Electric Range, Refrigerator, Washer
Construction Type: Site/Stick-Built
Exterior: Other, Wood Siding
Fencing: Partial
Flooring: Carpet, Laminate, Luxury Vinyl, Tile
Foundation: Slab
Heating Y/N: Yes
Laundry Features: Common Area, Varies By Unit
Lot Features: Corner Lot, Landscaped
OtherStructures: None
Parcel #: 007-101-12
Parking: Common, Parking Pad, Varies by Unit
Patio/Porch: Patio
Pool Features: None
Security Features: Smoke Detector(s)
Sewer: Public Sewer
Sprinklers: Automatic
Tenant Pays: All Utilities
Units: 3
Units Furnished: None
Utilities: Cellular Coverage, Internet Connected, Water Meter Installed, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Oil
Water: Public
Window Features: Varies
Local Schools
High School: Reno
Middle School: Clayton
Elementary School: Elmcrest
Listed By / Shown By
Listed By
Agency Name: RE/MAX Professionals-Reno
Agent Name: Nicholas Abe
Agency Phone: 775-345-3070
Agent Phone: 775-233-7356
Shown By
Agency Title: Key Realty
Agency Phone: 877-539-7589
Estimate Your Payment
Estimated Payment
$ 3,924.50 per month $3,635.92 Principal & Interest $99.00 Property Tax $189.58 Homeowner's Insurance
1301 Faland Way, Unit 1, 2, 3 | MLS# 260007966
This multi-family property located at 1301 Faland Way, Unit 1, 2, 3, Reno, NV 89503 is currently listed for sale with an asking price of $650,000. Search Reno real estate on www.ikeyrealty.com today.