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Larry Peyton

larry@peytonre.com +1(775) 219-7503

$ 450,000

Est. payment | -/mo

2 Beds

1 Bath

1,228 SqFt

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$ 450,000

Est. payment | -/mo

Save

2 Beds

1 Bath

1,228 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 1,228 sqft

Price per Sqft $366

Subdivision St George Addition

MLS Listing ID 260002492

Bedrooms 2

Full Baths 1

Year Built 1938

Annual Tax Amount $916

Lot Size 7,000 Sqft

Acres 0.16

Lot Dimensions 0.16

Property Sub-Type Single Family Residence

Property Description

Investor Alert! Exceptional opportunity just minutes from the University of Nevada, Reno. Situated on a 7,000 sq ft lot and zoned MF-14, this property offers tremendous potential for investors looking to maximize value in a highly desirable rental location near campus, shopping, and dining. The existing 1,228 sq ft home with a partial basement provides a strong starting point with several possible investment strategies: Option 1: Add a Detached ADU Take advantage of the MF-14 zoning and add a detached 800-1,000 sq ft ADU in the rear yard. Renovate the existing home and consider finishing the basement to create dual rental income streams. Option 2: Convert or Expand to a Duplex Expand and renovate the charming 1938 single-family home into a modern duplex by adding an 800-1,000 sq ft attached unit and finishing the basement. This option stays within the base MF-14 density of two units without requiring a density bonus. Option 3: Redevelop to a Triplex For a larger project, demolish the existing improvements and build a new 2,400-3,000 sq ft three-unit multifamily property (townhome or stacked style). With qualifying small or affordable units, a density bonus may allow development of three units. With strong rental demand near campus and flexible zoning, this property presents multiple pathways for value-add or redevelopment. A rare chance to secure an investment property in one of Reno's most sought-after rental corridors. Buyer and buyer's agent to perform their own due diligence and verify all information in the MLS, including but not limited to zoning, development potential, square footage, and allowable uses.

Location

State NV

County Washoe

Community St George Addition

Area St George Addition

Zoning MF14

Rooms

Family Room None

Other Rooms Unfinished Basement

Basement Basement - Unfinished

Dining Room None

Kitchen None

Interior

Heating Electric

Cooling Wall/Window Unit(s)

Flooring Tile

Fireplaces Number 1

Fireplaces Type Wood Burning

Fireplace Yes

Laundry In Basement

Exterior

Exterior Feature None

Parking Features Garage

Garage Spaces 1.0

Utilities Available Electricity Connected, Sewer Connected, Water Meter Installed

View Y/N No

Roof Type Tile

Total Parking Spaces 1

Garage No

Building

Lot Description Level

Story 1

Foundation Concrete Perimeter

Water Public

Structure Type Brick Veneer

New Construction No

Schools

Elementary Schools Peavine

Middle Schools Clayton

High Schools Reno

Others

Tax ID 007-142-06

Acceptable Financing 1031 Exchange, Cash

Listing Terms 1031 Exchange, Cash

Special Listing Condition Standard

Listed by BHG Drakulich Realty

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(775) 219-7503

larry@peytonre.com

1025 Bell ST Reno, NV 89503