$205,000 Active
280 Island Avenue #APT 1002
Reno, NV 89501
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
1 Beds
·
2.0 Baths
·
751 Sq Ft

About This Property

Park Tower is the only downtown Reno high rise that permits short term rentals. This 10th floor unit has been configured into two separately accessed rentable spaces, each with its own locked entrance and an established booking history. This is a short sale. Cash and 1031 exchange offers only. The building sits on Island Avenue directly above the Truckee River and Wingfield Park. The unit faces west with direct views of the river, the park, and the Sierra Nevada. The Riverwalk District is right outside with immediate access to dining, coffee, and nightlife. Mount Rose and Lake Tahoe are a short drive for skiing and year round outdoor access. The building features a shared rooftop deck. Buyers should conduct their own due diligence regarding income potential. Whether you are adding to a portfolio or executing a 1031 exchange, this is a rare opportunity to acquire a short term rental asset in downtown Reno.

Listed by James Von Dorsten — RE/MAX Gold-Midtown

Listing Details

Status Active
MLS # 260003287
Days on Market 47
Price/Sq Ft $273

Property History

Mar 22, 2026
Listed for sale
$205,000
Property Overview
Beds 1
Baths 2.0
Sq. Ft. 751
Lot Size 0.02 acres
Stories 17
Year Built 1961
Property Type Condominium
Subdivision Park Towers
APN 011-474-10
Parking
Parking Features Permit Required, Detached, Garage, Under Building
Attached Garage Yes
Exterior & Lot
Exterior Features None
Lot Features Corner Lot, Level
View City, Mountain(s), Park/Greenbelt, Trees/Woods
Construction Brick, Masonite
Roof Flat
Foundation Slab
Utilities & Systems
Heating Electric, Forced Air
Cooling Central Air, Electric
Financial
Annual Tax $1,071
HOA Fee $675 / Monthly
HOA / Community Western Nevada Management
Schools
Elementary School Mt. Rose
Middle School Swope
High School Reno
HOA & Community
Community Amenities Gated, Management
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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% ($41,000)
Home price
$205,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC
(530) 317-0373

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