$970,000 Active
1369 Faland Way
Reno, NV 89503
STR Status Unknown
9 Beds
·
6.0 Baths
·
4,111 Sq Ft

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About This Property

Rare opportunity in central Reno! 1369 Faland Way comes with an approved Special Use Permit for boarding/rooming house use with up to 15 beds, and the City of Reno has confirmed the permit runs with the property, not the owner. This spacious home offers 9 bedrooms and 6 bathrooms, giving you plenty of room and flexibility for a wide range of uses. At the heart of the home is a very large kitchen built to handle a full house, plus two additional kitchenettes that add convenience and help spread out daily use. A separate office/flex space works well as a management office, study area, or extra common room. Parking includes 4 drive spaces, plus ample street partking, a real plus for a property of this size. Conveniently located near hospitals, bus lines, UNR, downtown, and restaurants. Opportunities like this with an existing Special Use Permit in place are hard to find. Buyer to verify all zoning, permit terms, and intended use with the City of Reno. Showings available by appointment. Do not bother tenants. Please call listing agent.

Listed by Jacqueline Mead — Sierra Sotheby's International

Listing Details

Status Active
MLS # 260012416
Days on Market 8
Price/Sq Ft $236

Property History

Sep 26, 2026
Listed for sale
$970,000
Property Overview
Beds 9
Baths 6.0
Sq. Ft. 4,111
Lot Size 0.14 acres
Stories 2
Year Built 1941
Property Type Single Family Residence
Subdivision University Terrace
APN 007-101-03
Parking
Total Parking 4
Parking Features Additional Parking
Exterior & Lot
Exterior Features Balcony
Lot Features Level
Roof Composition, Pitched
Foundation Slab
Utilities & Systems
Heating Forced Air, Natural Gas
Cooling Central Air
Financial
Annual Tax $4
Schools
Elementary School Peavine
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

STR analysis
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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

$5,509 per month
Principal & interest
$4,905/mo
Property taxes
$0/mo
The seller's current bill, from the MLS: a Nevada bill doesn't reset when a home sells.
HOA dues
$0/mo
From MLS listing data.
Home insurance
$604/mo
Estimated ~$5,900–$8,600/yr — get a local broker quote for accuracy.
Down payment
20% ($194,000)
Home price
$970,000
Loan details
30-yr fixed, 6.5%
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