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    1151 Valley Rd Reno, NV 89512

    Sponsored
    For Sale
    $729,920

    Prime Reno land, ideal for student housing. 9,124 sq ft, MF30 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 9,124 square foot lot presents a unique investment opportunity in Reno, Nevada. Located at 1151 Valley Rd, 89512, this property is zoned MF30, permitting multi-family development. Its prime location near the University of Nevada makes it perfectly suited for student housing, capitalizing on projected enrollment growth to 23,000 students by 2025 and 25,000 by 2030. The property boasts a corner lot location with convenient access to major arteries. Currently, a residential building and a detached garage are situated on the site. The assessed parcel number (APN) is 007-083-41. While the projected land market price is $80.00 per square foot, the seller is willing to consider a lower price for a swift transaction. This presents a compelling opportunity for developers seeking to meet the growing demand for student housing in a thriving university town. The property is being offered at $729,920.

    Property Features for 1151 Valley Rd

    General Information

    Property type
    Land

    HighLights

    • Land priced at $80/SF.
    • Motivated seller seeking quick close.
    • Excellent major artery access.
    • Corner lot.
    • Existing residential building and detached garage.
    • Zoned MF30.
    Property Profile Location Intelligence

    Current Use by Public Records

    Trippy little farm Bicycle Repair Shop Bicycle Service Centers Bicycle Repair Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8080209
    Latitude
    39.5394007

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    FAQs

    What type of property is this?
    Land - Prime Reno land, ideal for student housing. 9,124 sq ft, MF30 zoning.
    Where is this land located?
    The property is located at 1151 Valley Rd Reno, NV.
    What is the asking price?
    The asking price for this property is $729,920.
    What are key features of this property?
    This property features: Land priced at $80/SF.; Motivated seller seeking quick close.; Excellent major artery access.
    (775) 232-8551
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    1151 Valley Rd Reno, NV 89512
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    Reno, NV 89512
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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
    1151 Valley Rd Reno, NV 89512
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