Homes for sale - 519 Elko Ave, Reno, NV 89512

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Sandy Ravens

Soli Ravens Team

sandy.ravens@engelvoelkers.com +1(775) 848-4618

$ 910,000

Est. payment -/mo

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Price Dropped by $40K

519 Elko Ave Reno, NV 89512

3 Beds

2 Baths

2,856 SqFt

UPDATED:

12/17/2024 06:12 AM

Key Details

Property Type Multi-Family

Sub Type Apartment Building (up to 8 Units)

Listing Status Active

Purchase Type For Sale

Square Footage 2,856 sqft

Price per Sqft $318

Subdivision Nv

MLS Listing ID 240013797

Bedrooms 3

Year Built 1915

Lot Size 7,492 Sqft

Acres 0.172

Property Description

Discover an exceptional investment opportunity in Reno's growing downtown district with high rent potential at 519 Elko Ave. This fully renovated, 5-unit apartment property combines modern amenities with a prime urban location, making it a standout choice for both investors and tenants. The property consists of two duplexes with spacious 2-bedroom, 1-bathroom units, plus a standalone 1-bedroom, 1-bathroom unit, each thoughtfully updated in 2021. Residents will appreciate the fully landscaped grounds that offer a serene, low-maintenance outdoor setting. The property's convenient location offers easy access to I-80, while the central downtown area offers vibrant dining, shopping, and entertainment options just minutes away. Situated just a 12-minute walk from the University of Nevada, Reno, this property is ideally positioned near the university's expansion toward downtown, making it particularly attractive to students, faculty, and staff. With a short commute to campus and Reno's bustling downtown amenities, tenants enjoy both proximity to educational institutions and access to the city's cultural heart. 519 Elko Ave offers a rare combination of a fully modernized interior, appealing outdoor spaces, and a location that aligns with Reno's dynamic growth, presenting a unique investment prospect for those looking to capitalize on Reno's urban development. Current rents are approximately $100 to $200 under market rates. Expenses in Financial Summary are estimated. Drive by only. Please do not disturb tenants. Contact agent for full Offering Memorandum.

Location

State NV

County Washoe

Zoning MD-ID

Interior

Heating Air Unit, Natural Gas, Heat Pump, Varies by Unit

Cooling Air Unit, Natural Gas, Heat Pump, Varies by Unit

Flooring Laminate, Varies by Unit

Appliance Refrigerator, Oven/Range, Dishwasher, Microwave, Varies Per Unit

Laundry Common, Varies Per Unit

Exterior

Exterior Feature Masonry Veneer, Vinyl Siding

Fence Full

Utilities Available City/County Water, City Sewer, Electricity, Natural Gas, Internet Available, Cellular Coverage Avail

Roof Type Pitched

Total Parking Spaces 7

Building

Story 2 Story

Foundation Basement/Unfinished, Concrete/Crawl Space

Water Electric

Level or Stories 2 Story

Structure Type Wood Frame

Schools

Elementary Schools Booth

Middle Schools Vaughn

High Schools Wooster

Others

Tax ID 00853105

SqFt Source 2856

Special Listing Condition None

Listed by Marmot Properties, LLC

Sandy Ravens

Private Office Advisor / License Partner / Broker | License ID: CA 02120074 | NV BS.145530

+1(775) 848-4618

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