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    California Ave Reno, NV 89509

    Sponsored
    For Sale
    $550,000

    Luxury Townhome Development Site, 1.12 Acres

    Property size:
    33,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional 1.12-acre development site in Reno, Nevada, presents a unique redevelopment opportunity. Located at 0 California Ave, this vacant property boasts 33,000 square feet and includes two existing buildings. The site is fully entitled for a 16-unit luxury townhome development, with preliminary plans available. Approved entitlements include a zoning change permitting up to 20 residential units, a tentative map for 16 units, and a special use permit for grading exceeding 20 feet in depth. The property is zoned MF-30 & MF-14, allowing for a single-family residential attached development. Conveniently located just half a mile from downtown Reno's vibrant nightlife and restaurants, it also offers walkability to a drug store, cleaners, Idlewild Park, and Reno High School. A brand-new bike path and sidewalk enhance connectivity to the city center. Area comparables are selling at over $350 per square foot, indicating strong potential return on investment. The sellers are open to a joint venture arrangement with qualified buyers. This infill project presents a rare opportunity in a highly desirable location.

    Property Features for 0 California Ave

    General Information

    Property type
    Land
    Square Feet
    33,000 SF
    Lot Size
    48,787 SF

    Building Details

    Buildings
    2

    HighLights

    • Area comparables sell for over $350 per square foot.
    • Rare infill development opportunity.
    • New bike path and sidewalk provide convenient access to Downtown Reno.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8275708
    Latitude
    39.5143089

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    FAQs

    What type of property is this?
    Land - Luxury Townhome Development Site, 1.12 Acres
    Where is this land located?
    The property is located at California Ave Reno, NV.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Area comparables sell for over $350 per square foot.; Rare infill development opportunity.; New bike path and sidewalk provide convenient access to Downtown Reno.
    Request Owner's contact information
    California Ave Reno, NV 89509
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    Reno, NV 89509
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    California Ave Reno, NV 89509
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