$975,000 Active Under Contract
1055 Riverside Drive
Reno, NV 89503
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
3 Beds
·
2.0 Baths
·
2,247 Sq Ft

About This Property

Beautiful brick building built in 1926, offering timeless character and charm. One of the few standalone professional office/residential properties in the heart of downtown, this unique property combines historic appeal with modern updates. Recent upgrades include all new windows, a new electrical panel, new flooring, fresh interior paint, remodeled bathrooms, a new microwave, and freshly painted kitchen cabinets. The property also features a durable metal roof with a lifetime warranty, a newer gas boiler installed in 2019, and a new parking lot completed in 2020. An electric gate provides secure rear access. Ideally located directly across the street from the Truckee River and the scenic Riverwalk with miles of walking and biking paths, the property offers beautiful river views and convenient access to outdoor recreation. Situated on the Riverwalk and just minutes from Idlewild Park, this location provides an exceptional combination of downtown convenience and natural surroundings. Currently zoned for professional office use; however, the City of Reno has indicated the property may be eligible for conversion to residential use, offering excellent flexibility and potential. Buyer to verify with Washoe County.

Listed by Mignon Lagatta — Haven Home Realty

Listing Details

Status Active Under Contract
MLS # 260002085
Days on Market 70
Price/Sq Ft $434

Property History

Feb 26, 2026
Listed for sale
$975,000
Current
Pending
$975,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 2,247
Lot Size 0.15 acres
Stories 2
Year Built 1926
Property Type Single Family Residence
Subdivision Powning Addition
APN 011-082-11
Parking
Total Parking 7
Parking Features Additional Parking
Exterior & Lot
Exterior Features Rain Gutters, None
Lot Features Landscaped, Level, Sprinklers In Front
View City, Trees/Woods
Construction Brick
Roof Metal, Pitched
Foundation Crawl Space
Utilities & Systems
Heating Baseboard, Hot Water, Natural Gas
Cooling Evaporative Cooling
Water Source Truckee River
Financial
Annual Tax $2,318
Schools
Elementary School Hunter Lake
Middle School Swope
High School Reno
📊

STR Investment Analysis

See projected rental revenue, occupancy rates, and investment scores.

STR Investment Analysis

Permitted Zone
STRUCTURAL SCORE Excellent
87
PROJECTED ANNUAL REVENUE
$142,500 ($118K – $167K range)
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

Cost Segregation Tax Savings

Estimated first-year bonus depreciation savings

Estimated First-Year Tax Savings
$0
via bonus depreciation
Land Value
$0
Improvement Basis
$0
5-Year Property (18%)
$0
15-Year Property (10%)
$0
Estimates are for informational purposes only and do not constitute tax advice. Consult a qualified CPA or tax professional for your specific situation. Actual savings depend on individual tax circumstances.

Payment calculator

$0 per month
Principal & interest
$0
Property taxes
$0
HOA dues
$0
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($195,000)
Home price
$975,000
Loan details
30-yr fixed, 6.5%
Request a Tour
Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

Send a Message

Or call directly: (530) 317-0373