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    208 University Ter Reno, NV 89503

    Sponsored
    For Sale
    $1,237,000

    Reno Multifamily Land, $1.2M

    Property size:
    1,230 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 19,035 sq ft lot at 208 University Terrace in Reno, Nevada (zip code 89503) presents a prime development opportunity. Currently featuring a single-family home, the property's highest and best use is multifamily development, ideally suited for apartments or student housing. Zoned MF30, this 1,230 sq ft site boasts a coveted location, offering unparalleled proximity to the University of Nevada, Reno campus and its ongoing $200 million expansion project. Its strategic position above downtown Reno provides breathtaking views of the High Sierra Mountains and places it within walking distance of the university, sorority houses, apartments, and retail establishments. The property's elevated location ensures maximum desirability and offers an exceptional investment opportunity. The asking price is $1,237,000. This is a rare chance to capitalize on the vibrant Reno market and the strong demand for housing near the university. Don't miss this chance to acquire a truly unique development site in a rapidly growing area.

    Property Features for 208 University Ter

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,230 SF

    HighLights

    • Overlooks Downtown Reno with breathtaking High Sierra Mountain views.
    • Prime location near UNR, sorority houses, apartments, and retail.
    • Situated between UNR and Downtown Reno.
    • 19,035 sq ft lot zoned MF30, ideal for multifamily development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8191111
    Latitude
    39.5352891

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    FAQs

    What type of property is this?
    Multifamily property - Reno Multifamily Land, $1.2M
    Where is this multifamily property located?
    The property is located at 208 University Ter Reno, NV.
    What is the asking price?
    The asking price for this property is $1,237,000.
    What are key features of this property?
    This property features: Overlooks Downtown Reno with breathtaking High Sierra Mountain views.; Prime location near UNR, sorority houses, apartments, and retail.; Situated between UNR and Downtown Reno.
    (775) 232-8551
    Request Owner's contact information
    208 University Ter Reno, NV 89503
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    Reno, NV 89503
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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
    208 University Ter Reno, NV 89503
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