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588 Saint Lawrence Ave - 590 Saint Lawrence DUPLEX 2 Unit Apartment Building Offered at $1,300,000 Reno, NV 89509
INVESTMENT HIGHLIGHTS
- Historical Newlands District
- Midtown area and short walk to the River
- 2 Brick homes on one corner lot
EXECUTIVE SUMMARY
2 homes on 1 Lot. OWNER FINANCING terms AT 4% interest rate. Property has differed maintenance and is ready for updates! Owner financing at a 4 percent interest rate can be beneficial to help buyers' complete repairs and improvements while enjoying the property. NOTE / TOWNHOME: Current Zoning offers a townhome development opportunity, possibly allowing a Buyer to create individual units that may be sold separately in the future. This is MF14 zoning - with TWO homes on a corner lot in the charming Newlands District of Old Southwest Reno! A rare opportunity to own a charming vintage-style multi-generational family property. This 1940's unique gem features original hardwood floors, archways, and classic sconces and finished and/or partially finished separate basement areas that add valuable space, while the private fenced deck provides the perfect setting for outdoor dining and entertaining. The main home at 590 St. Lawrence offers approximately 1,867 sq. ft. including the finished basement. The main level features a living room, dining area, one bedroom, one full bath, and a Galley kitchen. Downstairs, you'll find a second bedroom, bonus room, three-quarter bath with walk-in shower, laundry area, and mechanical closet. Upstairs includes a loft-style bedroom, powder 1/2 bath, and flexible bonus spaces. The guest house at 588 St. Lawrence offers approximately 1,539 sq. ft. including a partially finished basement. The main level includes a living room, dining area, one-bedroom, full bath, and Galley kitchen. The basement level has two additional bedrooms, a three-quarter bath with shower, and laundry/mechanical area. Exterior is all brick, and the home sits proudly on the corner of Nixon and St Lawrence. Perfect for Multi-Generational Family, extra guest house unit, separate home office Space for working from home, or Income producing property. A truly special place to live, invest, or both!
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$60,000
|
$17.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$60,000
|
$17.62
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $17.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $17.62 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Carpet
- Yard
- Attic
- Basement
- Deck
- Dining Room
- Family Room
- Lawn
- Linen Closet
- Loft Layout
- Mother-in-law Unit
- Patio
- Porch
- Window Coverings
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 1 | $2,500 | 1,867 |
| 3+2 | 1 | $2,500 | 1,539 |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (80)
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NVG Properties LLC
588 Saint Lawrence Ave - 590 Saint Lawrence DUPLEX
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