1301 Faland Way, Unit 1 2 3

Reno, NV 89503

$650,000
Price
12
Beds
9
Baths
2,040 Sq. Ft.
$319 / Sq. Ft.
2,040
Sq. Ft.
$319
per Sq. Ft.
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New
New
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Description

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...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.
  1. Listed by Nicholas Abe • Brokerage DRE #B.143992 • RE/MAX Professionals-Reno
    P: (775)-233-7356 nabe@remax.net
  2. Listed by Kane and Partners Real Estate • Brokerage DRE #B.143992 • RE/MAX Professionals-Reno
    P: (775)-345-3070 coreycarter@remax.net

Property Details for 1301 Faland Way, Unit 1 2 3

Zoning
MF14
Subdivision Name
University Terrace
Furnished
Unfurnished
LISTING UPDATED: 06/20/2026 06:39 PM

Property Details for 1301 Faland Way, Unit 1 2 3

StatusActive
MLS #260007966
Days on Compass1
Taxes$1,188 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1941
Lot Size0.09 AC / 4,122 SF
CountyWashoe County
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Location

Listing Courtesy of RE/MAX Professionals-Reno, Nicholas Abe, License #S.174613; RE/MAX Professionals-Reno, Kane and Partners Real Estate, License #24-t
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Building Information for 1301 Faland Way, Unit 1 2 3

Stories2Residences3Year Built1941Building Size-Lot Size0.09 AC / 4,122 SF

Payment Calculator

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$3,338 per month

30 year fixed, 6.36% Interest

Principal and Interest

$3,239

Property Taxes

$99

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1301 Faland Way, Unit 1 2 3

Summary
Location and General Information
  • Directions: GPS
  • Latitude: 39.540232
  • Longitude: -119.822866
  • Cross Street: GPS
  • Address:Parcel Number: 007-101-12
  • Address:Cross Street: GPS
  • Address:Within City Limits YN: Yes
Taxes and HOA
  • Association Fee: $0
  • Tax Annual Amount: $1,188
  • Tax Legal:Neighborhood: West University
  • Tax Legal:Elementary School: Elmcrest
  • Tax Legal:Middle Or Junior School: Clayton
  • Tax Legal:High School: Reno
  • Tax Legal:Tax Annual Amount: $1,188
  • Tax Legal:Special Assessments and Bonds Other Than CIC: 0.0
  • Tax Legal:Utilities Assessment to Assume YN: No
  • Tax Legal:Zoning: MF14
  • Tax Legal:Directions: GPS
  • AssociationCommunity:Number Of Buildings: 1.0
  • AssociationCommunity:Senior Community YN: No
Parking
  • Attached Garage YN: No
  • Parking Features: Common, Parking Pad, Varies by Unit
  • Parking Total: 10.0
  • Parking Information:Parking Total: 10.0
  • Parking Features:Common: Yes
  • Parking Features:Parking Pad: Yes
  • Parking Features:Varies by Unit: Yes
School Information
  • Elementary School: Elmcrest
  • High School: Reno
  • Middle Or Junior School: Clayton
Property
Lot Information
  • Lot Features: Corner Lot, Landscaped
  • Lot Size Acres: 0.1
  • Lot Size Area: 0.1
  • Lot Size Square Feet: 4122.0
  • Lot Size Units: Acres
  • Water Source: Public
  • Building Area Total: 2040.0
  • Lot:Lot Size Acres: 0.1
  • Lot:Lot Size Square Feet: 4122.0
  • Lot:Pool Private YN: No
  • Lot:Spa YN: No
  • Lot Features:Corner Lot: Yes
  • Lot Features:Landscaped: Yes
Property and Assessments
  • Parcel Number: 007-101-12
  • Possession: Close Of Escrow, Subject To Tenant Rights
  • Property Type: Residential Income
  • Year Built: 1941
  • Property Sub Type: Triplex
  • Number Of Buildings: 1
  • Possession:Close Of Escrow: Yes
  • Possession:Subject To Tenant Rights: Yes
  • Financial Data Source:Owner: Yes
  • Financial Data Source:Property Manager: Yes
Utilities
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Internet Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Cellular Coverage, Water Meter Installed
  • Electric: True
  • Utilities:Cooling YN: No
  • Utilities:Heating YN: Yes
  • Utilities:Cable Connected: Yes
  • Utilities:Electricity Connected: Yes
  • Utilities:Internet Connected: Yes
  • Utilities:Natural Gas Connected: Yes
  • Utilities:Phone Connected: Yes
  • Utilities:Sewer Connected: Yes
  • Utilities:Water Connected: Yes
  • Utilities:Cellular Coverage: Yes
  • Utilities:Water Meter Installed: Yes
  • Sewer:Public Sewer: Yes
  • Water Heater:Electric: Yes
  • Water Source:Public: Yes
  • Meter Information:Separate Meters YN: Yes
  • Meter Information:Separate Electric Meters YN: Yes
  • Meter Information:Number Of Separate Electric Meters: 3
  • Meter Information:Separate Gas Meters YN: Yes
  • Meter Information:Number Of Separate Gas Meters: 3
  • Meter Information:Separate Water Meters YN: Yes
  • Meter Information:Number Of Separate Water Meters: 3
Interior and Exterior Features
Exterior Features
  • Pool Features: None
  • Patio And Porch Features: Patio
  • Stories: 2
  • Construction Materials: Wood Siding, Other
  • Exterior Features: None
  • Fencing: Partial
  • Foundation Details: Slab
  • Levels: Two
  • Other Structures: None
  • Roof: Pitched, Shingle
  • Security Features: Smoke Detector(s)
  • Senior Community YN: No
  • Spa Features: None
  • Spa YN: No
  • Window Features: Varies
  • Pool Private YN: No
  • Building:Number Of Units Total: 3.0
  • Building:Stories: 2.0
  • Building:Outdoor Living Spaces YN: Yes
  • Building:ADA Compliant YN: No
  • Building:Units Furnished: None
  • Construction Materials:Other: Yes
  • Exterior Features:None: Yes
  • Fencing:Partial: Yes
  • Foundation Details:Slab: Yes
  • Levels:Two: Yes
  • Other Structures:None: Yes
  • Outdoor Living Spaces:Patio: Yes
  • Outdoor Living Spaces Features:Uncovered Patio: Yes
  • Pool Features:None: Yes
  • Roof:Pitched: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • Spa Features:None: Yes
  • Sprinklers:Automatic: Yes
  • Window Features:Varies: Yes
Interior Features
  • Cooling YN: No
  • Fireplace YN: No
  • Flooring: Carpet, Laminate, Luxury Vinyl, Tile
  • Heating: Forced Air, Oil
  • Heating YN: Yes
  • Laundry Features: Common Area, Varies By Unit
  • Number Of Separate Water Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Electric Meters: 3
  • Number Of Units Vacant: 1
  • Number Of Units Mo Mo: 2
  • Number Of Units Leased: 0
  • Bathrooms Total Integer: 3
  • Bathrooms Total Decimal: 3.0
  • Bathrooms Total Notational: 3.0
  • Bedrooms Total: 4
  • Appliances: Dishwasher, Dryer, Electric Range, Refrigerator, Washer
  • Interior:Building Area Total: 2040.0
  • Interior:Building Area Source: Appraiser
  • Interior:Fireplace YN: No
  • Flooring:Carpet: Yes
  • Flooring:Laminate: Yes
  • Flooring:Luxury Vinyl: Yes
  • Flooring:Tile: Yes
  • Heating:Forced Air: Yes
  • Heating:Oil: Yes
  • Insulation Details:Unknown: Yes
  • Interior Features:None: Yes
  • Appliances:Dishwasher: Yes
  • Appliances:Dryer: Yes
  • Appliances:Electric Range: Yes
  • Appliances:Refrigerator: Yes
  • Appliances:Washer: Yes
  • Laundry Features:Common Area: Yes
  • Laundry Features:Varies By Unit: Yes
Multi Family
Income & Expenses
  • Trash Expense: $0
  • Cable Tv Expense: $0
  • Gross Scheduled Income: $26,280
  • Net Operating Income: $26,280
  • Income and Expenses:Income Info Withheld YN: No
  • Income and Expenses:Annual Debt Service: 0.0
  • Income and Expenses:Annual Income & Expenses: Actual
  • Income and Expenses:Cable TV Expense: $0
  • Income and Expenses:Cap Rate: 4.00%
  • Income and Expenses:Gross Scheduled Income: $26,280
  • Income and Expenses:Net Operating Income: $26,280
  • Income and Expenses:Total Actual Rent: $26,280
  • Income and Expenses:Trash Expense: $0
  • Income and Expenses:Vacancy Allowance: $0
Multi Family Information
  • Units Furnished: None
  • Number Of Units Total: 3
  • Unit Details:Number Of Units Leased: 0
  • Unit Details:Number Of Units Month To Month: 2
  • Unit Details:Number Of Units Vacant: 1
Rental
Rent Information
  • Tenant Pays: All Utilities
  • Pet Information:Pets Allowed YN: Yes
  • Tenant Pays:All Utilities: Yes

Property History for 1301 Faland Way, Unit 1 2 3

DateEvent & SourcePriceAppreciation
Jun 21, 2026

Listed (Active)

NNRMLS #260007966

$650,000—
DateEvent & SourcePrice
06/21/2026

Listed (Active)

NNRMLS #260007966

$650,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 1301 Faland Way, Unit 1 2 3

This home is within Washoe County School District.
Rating
School
Type
Grades
Distance
Elmcrest Elementary School
Public - PK to 5
Archie Clayton Middle School
Public - 6 to 8
Reno High School
Public - 9 to 12
Coral Academy Charter School Elementary
Charter - K to 4
Rating
School
Distance
Elmcrest Elementary School
PublicPK to 5

Archie Clayton Middle School
Public6 to 8

Reno High School
Public9 to 12

Coral Academy Charter School Elementary
CharterK to 4

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1301 Faland Way, Unit 1 2 3, Reno, NV 89503

1301 Faland Way, Unit 1 2 3 is a multi-family home for sale in Reno, NV 89503. This property was listed for sale on June 21, 2026 by RE/MAX Professionals-Reno, it's currently listed at $650,000. This listing's school district is Washoe County School District. Nearby schools include Elmcrest Elementary School, Archie Clayton Middle School and Reno High School. 1301 Faland Way, Unit 1 2 3 is a 12-bed, 9-bath, 2,040 sqft multi-family home built in 1941.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Professionals-Reno, Nicholas Abe, License #S.174613; RE/MAX Professionals-Reno, Kane and Partners Real Estate, License #24-t

Based on information from one of the following Multiple Listing Services: MetroList, Tahoe Sierra Board of REALTORS, South Tahoe Association of REALTORS, Mammoth Lakes Board of REALTORS MLS, Northern Nevada Regional MLS, Incline Village Board of REALTORS, Inyo County MLS, and Plumas Association of REALTORS.. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MetroList, Tahoe Sierra Board of REALTORS, South Tahoe Association of REALTORS, Mammoth Lakes Board of REALTORS MLS, Northern Nevada Regional MLS, Incline Village Board of REALTORS, Inyo County MLS, and Plumas Association of REALTORS. is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.