$349,950 Active
280 Island Avenue #APT 1403
Reno, NV 89501
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
2 Beds
·
2.0 Baths
·
1,321 Sq Ft

About This Property

Luxury riverside living 14 stories high! Park Towers, where the energy of Downtown Reno meets the natural beauty of the Truckee River and surrounding mountains. Unit 1403 features large windows in every room throughout the home, filling the residence with abundant natural light while showcasing sweeping views of the mountains, city skyline, and river. Enjoy true low-maintenance living in one of Reno's most walkable locations. Just outside your door are the Truckee River, Barbara Bennett Park, Wingfield Park, scenic walking and running trails, basketball and recreation areas, restaurants, nightlife, festivals, entertainment, and an organic grocery co-op. Midtown Reno and the University of Nevada, Reno are also just minutes away. A standout feature of this property is its rare short-term and mid-term rental flexibility, offering potential opportunities for Airbnb, VRBO, Furnished Finder, and other furnished rental strategies, subject to applicable HOA rules and local regulations. Whether you're looking for a primary residence, second home, or investment property, this flexibility adds another dimension to the property's appeal. The HOA further simplifies ownership by covering many major expenses, including water, sewer, trash, heating, cooling, and exterior maintenance, allowing you to spend less time maintaining your home and more time enjoying the surrounding lifestyle. From professionals and UNR students to active residents, retirees, investors, or anyone seeking a stylish downtown retreat, Unit 1403 offers a unique combination of convenience, recreation, scenery, and accessibility. With parks, dining, shopping, groceries, recreation, entertainment, and the Truckee River all within easy reach, Park Towers delivers a downtown Reno lifestyle that is difficult to replicate.

Listed by Arturo Rangel — Epique Realty

Listing Details

Status Active
MLS # 260011483
Days on Market 9
Price/Sq Ft $265

Property History

Sep 04, 2026
Listed for sale
$349,950
Property Overview
Beds 2
Baths 2.0
Sq. Ft. 1,321
Lot Size 0.03 acres
Stories 18
Year Built 1961
Property Type Condominium
Subdivision Park Towers
STR Jurisdiction Washoe County
APN 011-475-11
Parking
Total Parking 200
Parking Features Under Building
Exterior & Lot
Exterior Features Balcony, Rain Gutters
Lot Features Level
View City, Mountain(s)
Construction Steel Frame, Stucco
Roof Flat, Membrane
Foundation Brick/Mortar
Utilities & Systems
Heating Forced Air
Cooling Central Air
Financial
Annual Tax $1,600
HOA Fee $1,188 / Monthly
HOA / Community Park Towers HOA
Schools
Elementary School Mt. Rose
Middle School Swope
High School Reno
HOA & Community
Community Amenities Elevator(s), Parking, Storage
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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 GROSS ANNUAL REVENUE
$118K – $167K typically ~$142,500
~$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% ($69,990)
Home price
$349,950
Loan details
30-yr fixed, 6.5%
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