1449 Hillside Dr Reno, NV 89503

Property Details for 1449 Hillside Dr

Year built

1977

Lot size

0.17 lot acres

Property size

2,796 SF

Property type

Commercial real estate

APN

007-017-03

Description

This exceptional University submarket duplex in Reno, Nevada, presents a compelling investment opportunity. Located at 1449 Hillside Dr, this fully renovated, 2-unit apartment building boasts a total of 2,796 square feet, offering a spacious 1,677 sq ft, 3-bedroom, 2-bathroom unit and a 1,118 sq ft, 2-bedroom, 1-bathroom unit. Both units are currently leased at market rates, ensuring a strong cash flow. The property underwent a complete renovation in 2022, featuring modern interiors with stainless steel appliances, solid surface countertops, shaker cabinets, and LPT flooring. Exterior improvements include new paint, modern fencing, updated landscaping, and decking. The property sits on a 0.165-acre lot and benefits from ample on-site and street parking. Its prime location, just one block from the University of Nevada, Reno, provides easy access to campus and major thoroughfares like Virginia Street, McCarran Blvd, and Interstate 80, ensuring high tenant demand. The building, constructed in 1977, is classified as a Class B multifamily property and is zoned MF-14. The asking price is $950,000, representing $339.77 per square foot and $475,000 per unit. A seller credit of up to $20,000 is available towards buyer closing costs. This stabilized investment benefits from Nevada's favorable tax environment and strong rental market dynamics. The property features a new roof and is a fully renovated asset.