$1,399,000 Active
255 N Sierra Street #2313
Reno, NV 89501
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
3 Beds
·
3.5 Baths
·
3,308 Sq Ft
Virtual Tour

About This Property

Experience the pinnacle of luxury living in this exquisite penthouse unit, where sophistication and comfort blend seamlessly against the backdrop of breathtaking panoramic vistas. This home is an ideal sanctuary for the discerning buyer within its generous 3300 sq.ft with a focus on open, airy spaces and an abundance of natural light streaming through floor-to-ceiling windows with stunning river and mountain views. The chef's kitchen is a culinary masterpiece, equipped with high-end GE profile appliances and ample room for entertaining. Enjoy effortless living with automated window coverings and spacious walk-in closets in every room. The primary suite invites relaxation with a jetted tub, creating a serene retreat from the bustling world below. Residents are welcomed into a Zen-inspired lobby that exudes tranquility, staffed with attentive 24-hour desk attendants ensuring your comfort and security. Outside, the pool terrace rivals any resort, featuring two hot tubs, five gas grills, a spacious lap pool, and a clubhouse perfect for hosting memorable events. Fitness enthusiasts will appreciate the expansive 24/7 gym, the largest among the city's high-rises. Additional conveniences include bike storage, 2 personal storage units (one just down the hall), and 4 secured parking spaces right by the elevator on the first level. This urban sanctuary offers a variety of communal spaces, including an owner's lounge, library, and a garden deck where you can enjoy the downtown views and festive fireworks displays. The Montage's prime location places you just blocks away from cultural hotspots, the Truckee Riverwalk, and Reno's vibrant Midtown district, with its eclectic mix of dining, shopping, and entertainment. Experience a lifestyle of luxury and convenience at The Montage—where your new home awaits amidst the energy and excitement of downtown Reno. (photos of pool area are original, but similar features will be on the new deck.)

Listed by Samantha Reveley — Dickson Realty - Downtown

Listing Details

Status Active
MLS # 240015042
Days on Market 519
Price/Sq Ft $423

Property History

Dec 05, 2024
Listed for sale
$1,399,000
Property Overview
Beds 3
Baths 3.5
Sq. Ft. 3,308
Lot Size 0.03 acres
Stories 23
Year Built 1978
Property Type Condominium
Subdivision The Montage Phase 1
APN 011-565-15
Parking
Garage Spaces 4
Total Parking 4
Parking Features Attached, Garage, Garage Door Opener, Heated Driveway, Tandem, Under Building
Attached Garage Yes
Exterior & Lot
Exterior Features None
Lot Features Level
View City, Mountain(s)
Construction Concrete, Other
Roof Flat, Membrane
Foundation Concrete Perimeter
Pool & Spa
Pool Association, Community, Heated, In Ground, Lap, Pool Cover
Utilities & Systems
Heating Electric, Forced Air, Heat Pump
Cooling Central Air, Electric, Heat Pump
Financial
Annual Tax $11,377
HOA Fee $2,361 / Monthly
HOA / Community The Montage HOA
Schools
Elementary School Hunter Lake
Middle School Swope
High School Reno
HOA & Community
Community Amenities Barbecue, Fitness Center, Gated, Landscaping, Management, Parking, Pool, Recreation Room, Spa/Hot Tub, Storage, Clubhouse/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% ($279,800)
Home price
$1,399,000
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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