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    • $650,000

    1301 Faland Way #1-2-3, Reno, NV 89503

    4beds
    3baths
    2,040sqft
    Triplex
    Built in 1941
    -- sqft lot
    $625,600 Zestimate®
    $319/sqft
    $-- HOA

    What's special

    Raised garden bedsGenerous side yardPlenty of natural lightComfortable living space
    LOCATION LOCATION LOCATION! This 3-unit multifamily property is gleaming with potential. Ideally located within walking distance of the University of Nevada, Reno and Downtown Reno, making it highly attractive to students, professionals, and renters alike. Each unit features its own private entrance, providing added privacy and appeal. The charming detached 1-bedroom, 1-bath "cottage" offers a generous side yard complete with raised garden beds and lots of space to play. The upstairs unit is a move-in-ready 2-bedroom, 1-bath with plenty of natural light and comfortable living space. The downstairs unit is a spacious 1-bedroom, 1-bath featuring an oversized bedroom and is currently vacant while undergoing cosmetic improvements. With a little vision and finishing touches, this property has the potential to achieve an estimated 7% CAP rate - an increasingly rare opportunity in today's market. Whether you're looking to expand your portfolio, house-hack, or invest in a high-demand rental area, this property checks all the boxes. Don't miss your chance, this one won't last long! Agents, please read private remarks.
    50 days
    |
    895
    |
    33
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Nicholas Abe S.174613 775-233-7356,

    RE/MAX Professionals-Reno,

    Kane and Partners Real Estate,

    RE/MAX Professionals-Reno

    Source: NNRMLS,MLS#: 260007966MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 4
      • Bathrooms: 3
      Heating
      • Forced Air, Oil
      Appliances
      • Included: Dishwasher, Dryer, Electric Range, Refrigerator, Washer
      • Laundry: Common Area, Varies By Unit
      Features
      • Flooring: Carpet, Laminate, Luxury Vinyl, Tile
      • Windows: Varies
      • Has fireplace: No
      Interior area
      • Total structure area: 2,040
      • Total interior livable area: 2,040 sqft

      Property

      Parking
      • Total spaces: 10
      • Parking features: Common, Parking Pad, Varies by Unit
      Features
      • Levels: Two
      • Stories: 2
      • Patio & porch: Patio
      • Exterior features: None
      • Pool features: None
      • Spa features: None
      • Fencing: Partial
      Lot
      • Size: 4,356 Square Feet
      • Features: Corner Lot, Landscaped
      Details
      • Additional structures: None
      • Parcel number: 00710112
      • Zoning: MF14

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Triplex
      Materials
      • Other
      • Foundation: Slab
      • Roof: Pitched,Shingle
      Condition
      • Year built: 1941

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Cable Connected, Electricity Connected, Internet Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Cellular Coverage, Water Meter Installed

      Community & HOA

      Community
      • Security: Smoke Detector(s)
      • Subdivision: University Terrace
      Location
      • Region: Reno

      Financial & listing details

      • Price per square foot: $319/sqft
      • Annual tax amount: $1,188
      • Date on market: 6/21/2026
      • Cumulative days on market: 51 days
      • Listing terms: 1031 Exchange,Cash,Conventional
      • Total actual rent: 26280
      • Tenant pays: All Utilities

        Estimated market value

        $625,600

        $594,000 - $657,000

        $1,900/mo

        Price history

        DateEventPrice
        6/21/2026Listed for sale$650,000$319/sqft
        Source: NNRMLS #260007966 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: Old Northwest - West University

        Getting around

        63 / 100
        Somewhat Walkable
        46 / 100
        Some Transit
        66 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Elmcrest
        • Middle: Clayton
        • High: Reno

        Source: NNRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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