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Janice Schaaf

janice.schaaf@engelvoelkers.com +1(650) 208-1548

$ 4,100,000

Est. payment -/mo

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Active

1045 Riverside DR Drive Reno, NV 89503

9,679 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,679 sqft

Price per Sqft $423

Subdivision Powning Addition

MLS Listing ID 250003918

Year Built 1934

Annual Tax Amount $8,630

Lot Size 0.440 Acres

Acres 0.44

Lot Dimensions 0.44

Property Sub-Type Multi Family

Property Description

Welcome to Loomis Manor at 1045 Riverside Dr, a prime multifamily investment property located in one of Reno's most sought-after areas, across from the picturesque Truckee River. This building offers an exceptional location within walking distance of Downtown Reno, the Riverwalk district, and the scenic parks along the river. It's surrounded by numerous restaurants, retail shops, and recreational opportunities, making it an ideal choice for renters looking to live in a vibrant and convenient neighborhood., This 18-unit apartment property boasts a 100% occupancy rate and is ideally located on Riverside Drive, just steps from the Truckee River and Downtown Reno. The building spans 9,679 square feet on a 0.44-acre lot and was originally constructed in 1934, with extensive renovations completed on 11 units in 2022. Residents enjoy ample parking, with a ratio of 1.86 spaces per 1,000 square feet, as well as modern kitchens, updated bathrooms, and spacious living areas. With strong value-add potential through continued renovations, the property is well-positioned to benefit from the neighborhood's ongoing growth and popularity among young professionals and families, offering investors attractive long-term rental income and appreciation prospects.

Location

State NV

County Washoe

Community Powning Addition

Area Powning Addition

Zoning MF30

Direction Keystone Ave

Interior

Heating Natural Gas, Radiant

Cooling Wall/Window Unit(s)

Flooring Ceramic Tile

Laundry Common Area

Exterior

Utilities Available Electricity Available, Internet Available, Natural Gas Available, Sewer Available, Water Available, Cellular Coverage

View Y/N No

Roof Type Flat

Building

Lot Description Landscaped, Sprinklers In Front, Other

Story 2

Water Public

Structure Type Frame,Stucco

Others

Tax ID 01108210

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Listed by Marmot Properties, LLC

Janice Schaaf

Global Real Estate Advisor ~ Realtor | License ID: NV 185416 | CA 01768524

+1(650) 208-1548

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