$1,100,000 Active
255 N Sierra Street #UNIT 1018
Reno, NV 89501
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
2 Beds
·
2.5 Baths
·
2,515 Sq Ft

About This Property

Welcome to elevated living in the heart of downtown Reno. This exquisite southwest corner unit redefines luxury with expansive, panoramic views of the Sierra Nevada mountains, sparkling city lights, and breathtaking sunsets. Designed for discerning buyers seeking the ease of single-level living, this residence offers the spaciousness and exclusivity of a penthouse, with seamless access and no stairs. Step inside to discover new luxury vinyl plank floors, complemented by an abundance of natural light streaming through floor-to-ceiling windows. Two large, separate balconies invite you to savor morning coffee or evening cocktails while taking in some of the city's most sought-after vistas. Motorized shades ensure comfort and privacy at the touch of a button. The thoughtfully updated kitchen features sleek counters and ample storage, while built-in shelving and cabinetry throughout maximize functionality and style. A custom walk-in closet and a dedicated, generous office space provide both convenience and flexibility, perfect for those working from home or downsizing without compromise. With four private parking spaces and a storage room on your floor, you'll have ample room for vehicles and guests. Montage 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 (Pool deck under construction and estimated to be completed Fall 2026). Fitness enthusiasts will appreciate the expansive 24/7 gym, the largest among the city's high-rises. Additional conveniences include bike storage, personal storage units. This urban sanctuary offers a variety of communal spaces, including an owner's lounge, library, and a lush 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.

Listed by Samantha Reveley — Dickson Realty - Downtown

Listing Details

Status Active
MLS # 260011296
Days on Market 4
Price/Sq Ft $437

Property History

Sep 01, 2026
Listed for sale
$1,100,000
Property Overview
Beds 2
Baths 2.5
Sq. Ft. 2,515
Lot Size 0.06 acres
Stories 23
Year Built 1978
Property Type Condominium
Subdivision The Montage Phase 1
STR Jurisdiction Washoe County
APN 011-553-19
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), Valley
Construction Concrete, Other
Roof Flat, Membrane
Foundation Concrete Perimeter
Utilities & Systems
Heating Electric, Forced Air, Heat Pump
Cooling Central Air, Electric, Heat Pump
Water Source Truckee River
Financial
Annual Tax $6,632
HOA Fee $1,817 / 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
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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% ($220,000)
Home price
$1,100,000
Loan details
30-yr fixed, 6.5%
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