$1,150,000 Active Under Contract
1311 Terrace Drive
Reno, NV 89503
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
7 Beds
·

About This Property

Prime UNR Triplex - Fully Renovated, Fully Leased, Turnkey Investment Just one block from the University of Nevada, Reno. This beautifully renovated triplex delivers modern living, strong rental demand, and reliable income from day one. Renovations were completed in 2019. The property offers 7 bedrooms, 5 bathrooms, and onsite and street parking, making it an exceptional opportunity in one of Reno's most sought after rental neighborhoods. Each unit has been thoughtfully updated with low maintenance LVP flooring, stainless steel appliances, modern kitchens and bathrooms, washer and dryers and efficient mini split HVAC systems. Residents enjoy inviting outdoor spaces as well, including a welcoming front porch and a shared patio ideal for relaxing or gathering with friends. Parking for 7 vehicles is included. This is a true turnkey investment: All units are currently tenant occupied. Leases for all three units for the 2026-27 term are already signed. APOD available upon request. Renovation work included fire alarm and fire sprinklers throughout the property. Showings are by appointment only and subject to tenant schedules. 24 hr notice required. Properties this close to campus with modern finishes and stable tenancy rarely come to market. A smart addition to any portfolio. We are continuing to show this property and are accepting back-up offers.

Listed by Jo Ann Burke — Dickson Realty - Caughlin

Listing Details

Status Active Under Contract
MLS # 260004240
Days on Market 57

Property History

Apr 09, 2026
Listed for sale
$1,150,000
Current
Pending
$1,150,000
Property Overview
Beds 7
Lot Size 0.16 acres
Stories 2
Year Built 1927
Property Type Triplex
Subdivision Campus Heights Addition
STR Jurisdiction Washoe County
APN 007-123-09
Parking
Parking Features Assigned, Parking Pad
Exterior & Lot
Exterior Features None
Lot Features Sloped Down
Construction Brick
Roof Composition, Pitched, Shingle
Foundation Other
Pool & Spa
Pool No
Financial
Annual Tax $4,409
Schools
Elementary School Elmcrest
Middle School Clayton
High School Reno
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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
From MLS listing data.
Home insurance
$0
Insurance estimate only — Tahoe wildfire-zone rates vary; get a local broker quote for accuracy.
Down payment
20% ($230,000)
Home price
$1,150,000
Loan details
30-yr fixed, 6.5%
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Kristina Mattson
Kristina Mattson
Broker - Owner
CA 01950662

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