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Janice Schaaf

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

$ 2,323,000

Est. payment -/mo

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1002 S Arlington AVE Reno, NV 89509

2,259 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,259 sqft

Price per Sqft $1,028

Subdivision Park Lawn

MLS Listing ID 260010820

Year Built 1937

Annual Tax Amount $4,096

Lot Size 0.289 Acres

Acres 0.29

Lot Dimensions 0.29

Property Sub-Type Multi Family

Property Description

Fantastic investment opportunity in Reno's desirable Old Southwest neighborhood at the intersection of Arlington Avenue and La Rue Avenue. This unique property consists of three separate buildings across two parcels and offers a variety of potential investment and operational opportunities. The sale includes both parcels, 01131313 and 01131314, associated with 1002 S. Arlington Avenue and 562 La Rue Avenue. Please see associated documents and property flyer for additional property information and details. Listing agent must be present for all showings. 1002 S. Arlington Avenue: The first building was originally constructed as a single-family home and has historically been converted and operated as a boarding house. The Historical Board has approved the use as a boarding house, allowing rooms to be leased to individual residents. More recently, the property has been approved and is currently being operated as supportive housing. This parcel contains two buildings and is zoned MF-14, providing flexibility for continued residential use and potential future opportunities, subject to applicable zoning and permitting requirements. Four-Unit Apartment Building: The second building is a four-unit apartment building consisting of two three-bedroom units and two two-bedroom units. Each unit includes one full bathroom, a full kitchen, its own water heater, and its own furnace. This building shares the parcel with 1002 S. Arlington Avenue and is zoned MF-14. The individual utility systems and unit layouts provide a practical residential configuration and an established income-producing component to the overall property. 562 La Rue Avenue: The third building is a single-story home that was converted into a boarding house and has historically operated as such. Although the property remains zoned single-family, the grandfathered boarding-house use has been allowed to continue under the current supportive-housing operation. The office for the existing operation is located within this building, along with food storage supporting the current use. With three buildings, multiple residential units, established boarding-house and supportive-housing uses, and a prime Old Southwest location, this property offers a rare combination of existing income potential and future possibilities. The opportunities for this property are extensive. Buyers are encouraged to conduct their own due diligence regarding zoning, permitted uses, historical approvals, occupancy, and future development potential.

Location

State NV

County Washoe

Community Park Lawn

Area Park Lawn

Zoning MF14

Direction La Rue

Interior

Heating Electric, Forced Air, Natural Gas

Cooling Electric

Flooring Vinyl

Fireplace No

Laundry Common Area

Exterior

Parking Features Accessible Parking, On Site, Paved

Utilities Available Electricity Available, Natural Gas Available, Sewer Available

View Y/N No

Roof Type Composition,Pitched,Shingle

Garage No

Building

Lot Description Landscaped, Other

Story 2

Foundation Crawl Space

Water Public

Structure Type Frame,Wood Siding

Others

Tax ID 011-313-13

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Engel & Volkers Lake Tahoe

NEARBY SCHOOLS & PROPERTIES

Janice Schaaf

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

+1(650) 208-1548

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