$3,850,000 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.
5 Beds
·
5.5 Baths
·
7,722 Sq Ft

About This Property

One of Reno's celebrated historic estates known as "The Mansions on the Bluff," this remarkable residence offers the rare combination of childhood magic and sophisticated grandeur. Imagine a childhood shaped by secret gardens, a storybook playhouse, grand rooms and sweeping river views—and a home equally suited to elegant dinners, important gatherings and celebrations on a magnificent scale. This is a rare opportunity for a family with vision to restore an architectural treasure and create an extraordinary legacy for generations to come. The ingredients are all here: history, beauty, presence and an incomparable setting. Occupying a commanding position in the prestigious Newlands Historic District, the residence speaks to an era when Reno's prominent families built homes of distinction along the Truckee River. Designed by noted Reno architect Edward Parsons, who studied under and worked for renowned architect Frederic DeLongchamps, the home was built in 1941 as an English Tudor Revival estate. Its architecture is distinguished by a brick-clad first floor, traditional half-timbering and stucco above, steeply pitched gables, leaded-glass windows, massive chimneys and a dramatic arched stone entrance. At the heart of the home is an impressive 20-foot-diameter circular entry hall, with gracious rooms radiating from it and expansive rear windows framing views of the Truckee River, downtown Reno and the surrounding mountains. Just off the entry hall, the living room features a large river-view window and a striking ceiling painting replicating a 'A new and most accurate map of the whole world' created and published by renowned map maker, J. Blaeu circa 1664. The estate feels worlds away while remaining remarkably close to downtown Reno. A storybook Tudor-style playhouse—with stair access and a slide exit—overlooks a large pond set within the tree-lined front lawn. Thoughtfully placed seating areas invite adults to relax nearby while children play. A river-view gazebo and surrounding decks provide a spectacular vantage point for enjoying the panoramic scenery, while a gated circular driveway creates an elegant sense of arrival. The current owner thoughtfully added an attached two-story unit designed in harmony with the home's original Tudor architecture. Complete with its own kitchen, bathroom and separate entrance, it offers exceptional flexibility for multigenerational living, live-in nanny accommodations, extended family or private guest quarters. Offering five bedrooms, five-and-a-half baths and three expansive levels, the residence encompasses a collection of remarkable spaces ready to be thoughtfully reimagined by the next stewards of this exceptional historic estate.

Listed by Valerie Forte — Compass

Listing Details

Status Active
MLS # 260011537
Price/Sq Ft $499

Property History

Sep 05, 2026
Listed for sale
$3,850,000
Property Overview
Beds 5
Baths 5.5
Sq. Ft. 7,722
Lot Size 0.79 acres
Stories 3
Year Built 1941
Property Type Single Family Residence
Subdivision Newlands Heights
STR Jurisdiction Washoe County
APN 011-134-02
Parking
Garage Spaces 2
Total Parking 12
Parking Features Attached, Garage, Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Built-in Barbecue, Outdoor Kitchen
Lot Features Landscaped, Level, Sloped Down, Sprinklers In Front, Wooded
View City, Mountain(s)
Construction Brick, Steel Frame, Stucco
Roof Shake
Foundation Slab
Utilities & Systems
Heating Forced Air, Natural Gas
Cooling Central Air
Water Source Truckee River
Financial
Annual Tax $9,669
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 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% ($770,000)
Home price
$3,850,000
Loan details
30-yr fixed, 6.5%
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