Description
Two nearly identical, freshly painted 8-unit apartment buildings are being offered together as a turnkey 16-unit portfolio in one of Reno's most rental-resilient submarkets. Both properties sit in the 89502 zip code just minutes from Renown Regional Medical Center northern Nevada's largest hospital and one of the region's top employers and are equally well-positioned for tenants working or playing in Midtown, downtown Reno, and along the South Wells Avenue corridor. The two buildings are separately parceled and may be purchased individually or together. The portfolio consists of sixteen identical one-bedroom, one-bath units, each approximately 506 square feet, spread across two nearly matching two-story buildings originally constructed in 1964. Both are built of concrete block with masonry bearing walls a durable, quiet, low-capex construction type that has held up well over the decades and continues to keep long-term operating costs in check. Each unit is served by its own wall heater, keeping the utility structure simple and tenant-paid. Some interior updates have already been completed across the units, giving a new owner a meaningful head start on the value-add plan while still leaving room to push rents further through continued unit-by-unit improvements. The exteriors of both buildings have been freshly painted, delivering strong day-one curb appeal. 900 Willow Street offers 8 units in a 4,048 SF building on a 5,341 SF lot, while 190 Locust Street mirrors it with 8 units in a 4,048 SF building on a slightly larger 5,461 SF lot with a 276 SF basement area. Both parcels carry Mixed-Use (MU) zoning, adding long-term flexibility and upside for a future owner. The location is what truly sets this offering apart. Renown Regional Medical Center is essentially around the corner a massive, always-hiring employer that drives constant rental demand from nurses, residents, techs, and traveling medical professionals looking for small, walkable, affordable units exactly like these. Midtown Reno, the city's most talked-about restaurant, coffee, and nightlife district, is a short walk or quick drive away, and downtown Reno, the Truckee Riverwalk, and the University of Nevada are all just minutes north. The South Wells Avenue commercial corridor sits right at the doorstep, giving tenants everyday services, grocery, and dining without needing to get in a car. This is a rare chance to acquire real scale 16 doors in a supply-constrained submarket, with the added flexibility of taking one building or both. The all-one-bedroom unit mix tracks perfectly with Reno's growing base of single medical professionals, young workers, and students, and the uniform floor plans make the properties simple to operate and lease. Concrete block construction keeps insurance premiums and maintenance costs manageable, the completed interior updates reduce day-one turn work, and the fresh exterior paint means the buildings show and lease immediately. The offering is ideally suited for value-add multifamily investors, 1031 exchange buyers looking for stabilized-with-upside product, and out-of-state operators seeking an entry point into Reno's medical-district rental market.
Details
| MLS # | 260008823 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1964 |
| Days On Site | 41 |
| Listing Provided By | Marmot Properties, LLC | Christopher Moton |
Features
| SQ Feet | 8,096 |
|---|---|
| Story(s) | 2 |
| Building(s) | 2 |
| Zoning | MU |
| Acreage | 0.25 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Cooling | Wall/Window Unit(s), Varies By Unit |
| Cooling Yes / No | Yes |
| Window Features | Blinds, Metal Frames |
| Appliances | Electric Oven, Electric Range, Microwave, Refrigerator |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Exterior Features | None |
| Security Features | Smoke Detector(s) |
| Lot Features | Corner Lot, Landscaped, Level |
| Construction Materials | Block, Concrete, Wood Siding |
| Foundation Details | Slab, Crawl Space |
| Fencing | Partial |
Parking
| Parking Features | Common |
|---|---|
| Attached Garage Yes / No | No |
Utilities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected, Cellular Coverage |
|---|---|
| Sewer | Public Sewer |
Location
| Senior Community Yes / No | No |
|---|
Taxes
| Property | 4839 |
|---|
Area Information
| State | NV |
|---|---|
| County | Washoe |
| City | Reno |
| Zip Code | 89502 |
| Area | Washoe |
| Community Name | Aitken Addition |
| School District | Wooster |
| Elementary School | Booth |
| High School | Wooster |
| Listing VS Median (in Aitken Addition) | |
Price: $2,700,000 low | high Med: $1,293,500 sqft: 8,096 low | high Med: 4,019 $ / sqft: $333 low | high Med: $313 On site: 41 low | high Med: 127.5 | |
Market Activity 89502
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Learn More About This Property
| State | NV |
|---|---|
| County | Washoe |
| City | Reno |
| Zip Code | 89502 |
| Area | Washoe |
| Community Name | Aitken Addition |
| School District | Wooster |
| Elementary School | Booth |
| High School | Wooster |
| Listing VS Median (in Aitken Addition) | |
Price: $2,700,000 low | high Med: $1,293,500 sqft: 8,096 low | high Med: 4,019 $ / sqft: $333 low | high Med: $313 On site: 41 low | high Med: 127.5 | |
