$4,100,000 Active
745 California Avenue
Reno, NV 89509
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
6 Beds
·
5.5 Baths
·
7,722 Sq Ft

About This Property

Make Reno's history into your future at 745 California Avenue, a 7,722 sq ft, 6 bd/5.5 bath English Tudor Revival home. Known as the Payne House and designed in the late 1930s, it features a 20-foot circular entry hall connecting formal and cozy living areas. Its prime location offers stunning views of the Truckee River and downtown Reno through expansive windows, a terraced yard, and a gazebo. With its rich history, detailed restoration, and modern amenities, this house is ready for its next era and owner. Discover a distinctive property that blends architecture and history on Reno's iconic bluff overlooking the Truckee River at 745 California Avenue. This 7,722 sq ft English Tudor Revival estate was designed in the late 1930s by famed Nevada architect Edward Parsons, who called it "rather a thrill." The home makes a lasting impression with decorative brickwork, half-timbering, steeply pitched symmetrical gables, leaded glass windows, and massive chimneys. Its form is most striking from above, where terraced gardens and mature trees blend seamlessly into the home's architecture, offering privacy, beauty, and a deep sense of permanence. More than 50 years after its construction, the Payne House's current owner undertook a thoughtful restoration. Key original features—hardwood flooring, hand-finished brickwork, and bespoke architectural details—were preserved. Modern upgrades include central air conditioning, forced-air gas heating, updated plumbing and electrical systems, and security. A restored vintage elevator provides convenient access across all levels of the home. The home includes 6 bedrooms and 5.5 bathrooms. The primary suite features a vintage fireplace, mountain views, dual vanities, a jetted soaking tub, a walk-in shower, and a spacious closet. The kitchen pairs classic charm with modern function, with built-in appliances and a garden-view breakfast nook. The formal dining room features oversized windows that frame panoramic views of the Truckee River and Sierra foothills. A painted ceiling mural floats above the living and game room. Wood-burning and freestanding fireplaces add warmth and character throughout the home. Additional rooms include a library, office, bonus space, and a fully finished walk-out basement with its own recreation area and workshop. The finished basement opens to the yard and adds flexible space for hobbies, guests, or extra living. The 0.79-acre lot includes a custom stone wall along California Avenue, a private driveway, a detached two-car garage, and a playhouse designed to echo the main residence. A tranquil pond anchors the front yard, while the terraced backyard unfolds to a deck, patio, and a gazebo perched above the river—perfect for gatherings, balloon watching, or quiet river moments. Located about a mile from downtown Reno, the home offers convenient access to parks, schools, and cultural venues. The Newlands Historic District is known for its concentration of other historic homes, tree-lined streets, and a landscape shaped by the City Beautiful movement. The Payne House offers more than architectural beauty—it holds a story. From its distinguished origins to its careful restoration, this home reflects vision, character, and legacy. It's ready for its next era—and for someone who values history, design, and the timeless experience of living in a truly remarkable place.

Listed by Joseph Wieczorek — Dickson Realty - Downtown

Listing Details

Status Active
MLS # 250050671
Days on Market 342
Price/Sq Ft $531

Property History

May 30, 2025
Listed for sale
$4,100,000
Property Overview
Beds 6
Baths 5.5
Sq. Ft. 7,722
Lot Size 0.79 acres
Stories 2
Year Built 1939
Property Type Single Family Residence
Subdivision Newlands Heights
APN 011-134-02
Parking
Garage Spaces 2
Total Parking 210
Parking Features Additional Parking, Attached, Garage, Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Built-in Barbecue, Rain Gutters
Lot Features Landscaped, Level, Sloped Down, Sprinklers In Front, Sprinklers In Rear
View City, Mountain(s), Park/Greenbelt
Construction Brick, Brick Veneer, Steel Frame, Stone, Stone Veneer, Stucco
Roof Composition, Pitched, Shake, Shingle, Wood
Foundation Slab
Pool & Spa
Pool No
Utilities & Systems
Heating Forced Air
Cooling Attic Fan, Central Air, Electric
Water Source Truckee River
Financial
Annual Tax $9,384
Schools
Elementary School Beck
Middle School Swope
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
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($820,000)
Home price
$4,100,000
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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