$330,000 Active
280 Island Avenue #APT 201
Reno, NV 89501
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found.
2 Beds
·
2.0 Baths
·
960 Sq Ft
Virtual Tour

About This Property

Rare opportunity to own a fully furnished, income-producing condo in the heart of downtown Reno. Located at 280 Island Avenue, Unit 201, this turnkey property is short-term rental approved and ready to generate revenue from day one. Designed for both comfort and performance, this bright, open-concept unit features abundant natural light and a functional layout ideal for guests and extended stays. All furnishings are included, making this a true plug-and-play investment with immediate income potential. Positioned just steps from the Truckee River, Midtown, and Reno's top dining, nightlife, and entertainment, this location consistently attracts visitors year-round. Low-maintenance ownership combined with high-demand proximity makes this an ideal asset for both new and experienced investors. Proven rental history and/or projected income available upon request. Whether you're looking to expand your portfolio or secure a flexible second home that generates income when not in use, this property delivers. Opportunities like this—fully turnkey, STR-approved, and centrally located—are limited. Don't miss your chance to own in one of Reno's most desirable investment corridors.

Listed by Lee Stevens — Real Broker LLC

Listing Details

Status Active
MLS # 260004101
Days on Market 29
Price/Sq Ft $344

Property History

Apr 08, 2026
Listed for sale
$330,000
Property Overview
Beds 2
Baths 2.0
Sq. Ft. 960
Lot Size 0.02 acres
Stories 18
Year Built 1961
Property Type Condominium
Subdivision Park Towers
APN 011-471-04
Parking
Parking Features None
Exterior & Lot
Exterior Features None
Lot Features Level
View City, Park/Greenbelt, Trees/Woods
Construction Brick, Masonite
Roof Flat
Foundation Slab
Utilities & Systems
Heating Forced Air, Natural Gas
Cooling Central Air
Financial
Annual Tax $1,338
HOA Fee $748 / Monthly
HOA / Community First Service Residential
Schools
Elementary School Mt. Rose
Middle School Swope
High School Reno
HOA & Community
Community Amenities Clubhouse, Management, Recreation Room
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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
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($66,000)
Home price
$330,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

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Or call directly: (530) 317-0373