Riverside Manor 1045 Riverside Dr 18 Unit Apartment Building $4,100,000 ($227,778/Unit) Reno, NV 89503

Welcome to Loomis Manor at 1045 Riverside Drive, a prime multifamily investment property located in one of Reno’s most sought-after areas, across from the picturesque Truckee River. This building offers an exceptional location within walking distance of Downtown Reno, the Riverwalk district, and the scenic parks along the river. It’s surrounded by numerous restaurants, retail shops, and recreational opportunities, making it an ideal choice for renters looking to live in a vibrant and convenient neighborhood.
The property consists of 18 units, with a mix of studios and 1-bedroom apartments. The building has recently undergone extensive renovations, including modern kitchens, stainless steel appliances, updated bathrooms, and new flooring in many of the units. With a 2-story, low-rise layout, the building offers tenants a comfortable living experience. The property also boasts additional land currently used as parking, providing ample space for tenants and a rare feature in the area.
This property offers a strong value-add opportunity for investors with its continued renovation potential. The neighborhood's continued growth, coupled with the area’s increasing popularity among young professionals and families, promises significant upside potential for long-term rental income and future property appreciation.