1331 Terrace Dr

Reno, NV 89503

$1,150,000
Price
7
Beds
4
Baths
3,293 Sq. Ft.
$349 / Sq. Ft.
3,293
Sq. Ft.
$349
per Sq. Ft.
Get preapproved with Rocket Mortgage1
New
New
1311 Terrace exterior 15
Front of House
Front of House 2
1311 Terrace exterior 1
1311 Terrace exterior 2
1311 Terrace exterior 3
3 Bedroom Unit Bedroom 1
3 Bedroom Unit Bedroom 2 Photo 2
3 Bedroom Unit Bathroom attached to Bedr
3 Bedroom Unit Bedroom Number 2
3 Bedroom Unit bedroom occupied 2
3 Bedroom Unit bedroom occupied
3 Bedroom Unit Shared Bathroom
3 bedroom unit kitchen occupied
3 Bedroom Unit Kitchen Photo 2
3 Bedroom Unit Kitchen Photo 3
3 Bedroom Unit Kitchen Photo 4
3 bedroom unit living room occupied 2
3 bedroom unit living room occupied
3 Bedroom Unit Living Room Photo 2
3 Bedroom Unit Living Room
Common porch
1311 Terrace exterior 4
1311 Terrace exterior 6
1311 Terrace exterior 9
1311 Terrace exterior 11
apt 100 photo 1
apt 100 photo 3
apt 100 photo 4
apt 100 photo 5
apt 100 photo 6
apt 100 photo 7
apt 100 photo 8

Description

Prime UNR Triplex - Fully Renovated, Fully Leased, Turnkey Investment Just one block from the University of Nevada, Reno. This beautifully renovated triplex delivers modern living, strong rental demand, and reliable income from day one. Renovations were completed in 2019. The property offers 7 bedrooms, 5 bathrooms, and onsite and street parking, making it an exceptional opportunity in one of Reno's most sought after rental neighborhoods. Each unit has been thoughtfully updated with low maintenance...Prime UNR Triplex - Fully Renovated, Fully Leased, Turnkey Investment Just one block from the University of Nevada, Reno. This beautifully renovated triplex delivers modern living, strong rental demand, and reliable income from day one. Renovations were completed in 2019. The property offers 7 bedrooms, 5 bathrooms, and onsite and street parking, making it an exceptional opportunity in one of Reno's most sought after rental neighborhoods. Each unit has been thoughtfully updated with low maintenance LVP flooring, stainless steel appliances, modern kitchens and bathrooms, washer and dryers and efficient mini split HVAC systems. Residents enjoy inviting outdoor spaces as well, including a welcoming front porch and a shared patio ideal for relaxing or gathering with friends. Parking for 7 vehicles is included. This is a true turnkey investment: All units are currently tenant occupied. Leases for all three units for the 2026-27 term are already signed. APOD available upon request. Renovation work included fire alarm and fire sprinklers throughout the property. Showings are by appointment only and subject to tenant schedules. 24 hr notice required. Properties this close to campus with modern finishes and stable tenancy rarely come to market. A smart addition to any portfolio.
  1. Listed by Jo Ann Burke • Brokerage DRE #B.144531 • Dickson Realty - Caughlin
    P: (775)-848-9070 jburke@Dicksonrealty.com

Property Details for 1331 Terrace Drive

Zoning
MU
Subdivision Name
Campus Heights Addition
Furnished
Unfurnished
LISTING UPDATED: 04/10/2026 08:20 AM

Property Details for 1331 Terrace Drive

StatusActive
MLS #260004240
Days on Compass23
Taxes$4,409 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1927
Lot Size0.16 AC / 7,130 SF
CountyWashoe County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Dickson Realty - Caughlin, Jo Ann Burke, License #S.180910
Add your commute

Building Information for 1331 Terrace Drive

Stories2Residences3Year Built1927Building Size-Lot Size0.16 AC / 7,130 SF

Payment Calculator

Get preapproved with Rocket Mortgage1

$6,158 per month

30 year fixed, 6.46% Interest

Principal and Interest

$5,791

Property Taxes

$367

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 1331 Terrace Drive

Summary
Location and General Information
  • Directions: N Virginia St to College Dr to Terrace Dr
  • Latitude: 39.540893
  • Longitude: -119.817995
  • Cross Street: College Dr
  • Address:Parcel Number: 007-123-09
  • Address:Cross Street: College Dr
  • Address:Within City Limits YN: Yes
Taxes and HOA
  • Association Fee: $0
  • Tax Annual Amount: $4,409
  • 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: $4,409
  • Tax Legal:Special Assessments and Bonds Other Than CIC: 0.0
  • Tax Legal:Utilities Assessment to Assume YN: No
  • Tax Legal:Zoning: MU
  • Tax Legal:Directions: N Virginia St to College Dr to Terrace Dr
  • AssociationCommunity:Senior Community YN: No
Parking
  • Attached Garage YN: No
  • Parking Features: Assigned, Parking Pad
  • Parking Features:Assigned: Yes
  • Parking Features:Parking Pad: Yes
School Information
  • Elementary School: Elmcrest
  • High School: Reno
  • Middle Or Junior School: Clayton
Property
Lot Information
  • Lot Features: Sloped Down
  • Lot Size Acres: 0.16
  • Lot Size Area: 0.16
  • Lot Size Square Feet: 7130.0
  • Lot Size Units: Acres
  • Water Source: Public
  • Building Area Total: 3293.0
  • Lot:Lot Size Acres: 0.16
  • Lot:Lot Size Square Feet: 7130.0
  • Lot:Pool Private YN: No
  • Lot:Spa YN: No
  • Lot Features:Sloped Down: Yes
Property and Assessments
  • Parcel Number: 007-123-09
  • Possession: Subject To Tenant Rights
  • Property Type: Residential Income
  • Year Built: 1927
  • Property Sub Type: Triplex
  • Possession:Subject To Tenant Rights: Yes
  • Financial Data Source:Owner: Yes
Utilities
  • Sewer: True
  • Utilities: Cable Connected, Electricity Connected, Internet Available, Natural Gas Connected, Sewer Connected, Water Connected, Cellular Coverage
  • Utilities:Cooling YN: Yes
  • Utilities:Heating YN: Yes
  • Utilities:Cable Connected: Yes
  • Utilities:Electricity Connected: Yes
  • Utilities:Internet Available: Yes
  • Utilities:Natural Gas Connected: Yes
  • Utilities:Sewer Connected: Yes
  • Utilities:Water Connected: Yes
  • Utilities:Cellular Coverage: Yes
  • Sewer:Public Sewer: Yes
  • Water Heater:Gas: 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: No
  • Meter Information:Separate Water Meters YN: No
  • Meter Information:One Primary Gas Meter YN: Yes
  • Meter Information:One Primary Water Meter YN: Yes
Interior and Exterior Features
Exterior Features
  • Pool Features: None
  • Patio And Porch Features: Patio, Deck
  • Stories: 2
  • Construction Materials: Brick
  • Exterior Features: None
  • Fencing: Back Yard, Partial
  • Foundation Details: Other
  • Levels: Two
  • Other Structures: Storage, None
  • Roof: Composition, Pitched, Shingle
  • Security Features: Carbon Monoxide Detector(s), Fire Alarm, Fire Sprinkler System, Smoke Detector(s)
  • Senior Community YN: No
  • Spa Features: None
  • Spa YN: No
  • Window Features: Blinds, Double Pane Windows, Vinyl Frames
  • 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:Brick: Yes
  • Exterior Features:None: Yes
  • Fencing:Back Yard: Yes
  • Fencing:Partial: Yes
  • Foundation Details:Other: Yes
  • Levels:Two: Yes
  • Other Structures:Storage: Yes
  • Other Structures:None: Yes
  • Outdoor Living Spaces:Deck: Yes
  • Outdoor Living Spaces:Patio: Yes
  • Outdoor Living Spaces Features:Uncovered Deck: Yes
  • Outdoor Living Spaces Features:Covered Patio: Yes
  • Pool Features:None: Yes
  • Roof:Composition: Yes
  • Roof:Pitched: Yes
  • Roof:Shingle: Yes
  • Security Features:Carbon Monoxide Detector(s): Yes
  • Security Features:Fire Alarm: Yes
  • Security Features:Fire Sprinkler System: Yes
  • Security Features:Smoke Detector(s): Yes
  • Spa Features:None: Yes
  • Sprinklers:Automatic: Yes
  • Window Features:Blinds: Yes
  • Window Features:Double Pane Windows: Yes
  • Window Features:Vinyl Frames: Yes
Interior Features
  • Cooling YN: Yes
  • Fireplace YN: No
  • Flooring: Luxury Vinyl
  • Heating YN: Yes
  • Laundry Features: In Unit
  • Number Of Separate Electric Meters: 3
  • Number Of Units Vacant: 0
  • Number Of Units Mo Mo: 0
  • Number Of Units Leased: 3
  • Bathrooms Total Integer: 4
  • Bathrooms Total Decimal: 4.0
  • Bathrooms Total Notational: 4.0
  • Bedrooms Total: 7
  • Appliances: Dishwasher, Disposal, Dryer, Electric Oven, Electric Range, Refrigerator, Washer
  • Interior:Building Area Total: 3293.0
  • Interior:Building Area Source: Owner
  • Interior:Fireplace YN: No
  • Flooring:Luxury Vinyl: Yes
  • Insulation Details:Unknown: Yes
  • Interior Features:None: Yes
  • Appliances:Dishwasher: Yes
  • Appliances:Disposal: Yes
  • Appliances:Dryer: Yes
  • Appliances:Electric Oven: Yes
  • Appliances:Electric Range: Yes
  • Appliances:Refrigerator: Yes
  • Appliances:Washer: Yes
  • Laundry Features:In Unit: Yes
Multi Family
Income & Expenses
  • Gross Scheduled Income: $81,000
  • Net Operating Income: $71,796
  • Income and Expenses:Income Info Withheld YN: No
  • Income and Expenses:Annual Income & Expenses: Actual
  • Income and Expenses:Gross Scheduled Income: $81,000
  • Income and Expenses:Net Operating Income: $71,796
Multi Family Information
  • Units Furnished: None
  • Number Of Units Total: 3
  • Unit Details:Number Of Units Leased: 3
  • Unit Details:Number Of Units Month To Month: 0
  • Unit Details:Number Of Units Vacant: 0
Rental
Rent Information
  • Tenant Pays: Internet, Electricity, Cable TV
  • Pet Information:Pets Allowed YN: No
  • Tenant Pays:Cable TV: Yes
  • Tenant Pays:Electricity: Yes
  • Tenant Pays:Internet: Yes

Property History for 1331 Terrace Drive

DateEvent & SourcePriceAppreciation
Apr 9, 2026

Listed (Active)

NNRMLS #260004240

$1,150,000—
DateEvent & SourcePrice
04/09/2026

Listed (Active)

NNRMLS #260004240

$1,150,000

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

Schools near 1331 Terrace Drive

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.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

More information about 1331 Terrace Drive, Reno, NV 89503

1331 Terrace Drive is a multi-family home for sale in Reno, NV 89503. This property was listed for sale on April 9, 2026 by Dickson Realty - Caughlin, it's currently listed at $1,150,000. This listing's school district is Washoe County School District. Nearby schools include Elmcrest Elementary School, Archie Clayton Middle School and Reno High School. 1331 Terrace Drive is a 7-bed, 4-bath, 3,293 sqft multi-family home built in 1927.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Dickson Realty - Caughlin, Jo Ann Burke, License #S.180910

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.