1347 Terrace Drive

Closed 6/23/23

Last Sold Price

$580,000

3 beds3 baths2,437 sqft$238/sqft

1347 Terrace Dr, Reno, NV 89503

Description

Investment Opportunity! Rare multiuse zoning allows for flexibility and numerous options for conversion. Leave it as a rental, or move a business into it! This house is in a fabulous location being 1 block away from UNR and San Rafael Park, as well as close to downtown. It's always rented, has ample storage space in the basement/laundry area, and an expansive yard for entertaining and gardening., Inspection/showing contingent on accepted offer - DO NOT DISTURB TENANTS! Drive by only! Please see uploaded...Investment Opportunity! Rare multiuse zoning allows for flexibility and numerous options for conversion. Leave it as a rental, or move a business into it! This house is in a fabulous location being 1 block away from UNR and San Rafael Park, as well as close to downtown. It's always rented, has ample storage space in the basement/laundry area, and an expansive yard for entertaining and gardening., Inspection/showing contingent on accepted offer - DO NOT DISTURB TENANTS! Drive by only! Please see uploaded APOD. Upstairs unit lease through April 1, 2023 and downstairs unit through August 1, 2023. Property is being sold AS IS

LISTING CLOSED: 06/23/2023 12:00 AM

Listed by Ellen Lan • All Star Realty
P: (775)-770-4582 ellen@allstarnv.com

Property Details for 1347 Terrace Drive

Status

Closed

MLS #

220008187

Days on Compass

380

Taxes

$1,176 / year

HOA Fees

Condo/Co-op Fees

Property Type

Multi Family

MLS Type

Residential Income

Year Built

1928

Lot Size

0.13 AC / 5,662 SF

County

Washoe County

Zoning

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Location

Listing Courtesy of All Star Realty, Ellen Lan, License #B.1002983

Sold By Ferrari-Lund Real Estate South, Stephanie Orona, License #S.191147; Ferrari-Lund Real Estate South, YaYa Jackoby, License #BS.143515

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Building Information for 1347 Terrace Drive

Stories2Residences2Year Built1928Building Size-Lot Size0.13 AC / 5,662 SF

Payment Calculator

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$3,046 per month

30 year fixed, 6.55% Interest

Principal and Interest

$2,948

Property Taxes

$98

HOA Dues

The Payment Calculator is for illustrative purposes only.

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Property Information for 1347 Terrace Drive

Summary

Location and General Information

Directions: N. Virginia and College Street
Address:Parcel Number: 00712302

Taxes and HOA

Association Fee: $0
Tax Annual Amount: $1,176

Tax Legal:Elementary School: Elmcrest
Tax Legal:Middle Or Junior School: Clayton
Tax Legal:High School: Reno
Tax Legal:Tax Annual Amount: $1,176
Tax Legal:Special Assessments and Bonds Other Than CIC: 0.0
Tax Legal:Zoning: MU
Tax Legal:Directions: N. Virginia and College Street
AssociationCommunity:Number Of Buildings: 1.0

Parking

Attached Garage YN: No
Parking Features: None

Parking Total: 6.0
Parking Information:Parking Total: 6.0
Parking Features:None: Yes

School Information

Elementary School: Elmcrest
High School: Reno

Middle Or Junior School: Clayton

Property

Lot Information

Lot Features: Landscaped
Lot Size Acres: 0.13

Lot Size Area: 0.13
Lot Size Square Feet: 5662.8
Lot Size Units: Acres
Water Source: Public
Building Area Total: 2437.0
Lot:Lot Size Acres: 0.13
Lot:Lot Size Square Feet: 5662.8
Lot Features:Landscaped: Yes

Property and Assessments

Parcel Number: 00712302
Possession: Close Of Escrow

Road Frontage Type: Private Road
Road Responsibility: Private Maintained Road
Property Type: Residential Income
Year Built: 1928
Number Of Buildings: 1
Possession:Close Of Escrow: Yes
Road Frontage Type:Private Road: Yes
Road Responsibility:Private Maintained Road: Yes

Utilities

Sewer: Public Sewer
Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available, Water Meter Installed, Varies By Unit

Utilities:Heating YN: Yes
Utilities:Electricity Available: Yes
Utilities:Natural Gas Available: Yes
Utilities:Sewer Available: Yes
Utilities:Water Available: Yes
Utilities:Varies By Unit: Yes
Utilities:Water Meter Installed: 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:Separate Gas Meters YN: Yes
Meter Information:Separate Water Meters YN: No
Meter Information:Separate Water Heaters YN: No
Meter Information:One Primary Electric Meter YN: No
Meter Information:One Primary Gas Meter YN: No
Meter Information:One Primary Water Meter YN: Yes

Interior and Exterior Features

Exterior Features

Stories: 2
Construction Materials: Brick

Fencing: Back Yard
Foundation Details: Slab
Other Equipment: Varies By Unit
Roof: Composition, Shingle
Window Features: Drapes, Single Pane Windows, Vinyl Frames, Wood Frames, Varies
Building:Number Of Units Total: 2.0
Building:Stories: 2.0
Construction Materials:Brick: Yes
Fencing:Back Yard: Yes
Foundation Details:Slab: Yes
Other Equipment:Varies By Unit: Yes
Roof:Composition: Yes
Roof:Shingle: Yes
Sprinklers:None: Yes
Window Features:Drapes: Yes
Window Features:Single Pane Windows: Yes
Window Features:Varies: Yes
Window Features:Vinyl Frames: Yes
Window Features:Wood Frames: Yes

Interior Features

Flooring: Ceramic Tile, Varies, Wood
Heating: Natural Gas

Heating YN: Yes
Laundry Features: Common Area
Bathrooms Total Integer: 0
Bathrooms Total Decimal: 0.0
Bathrooms Total Notational: 0.0
Appliances: Oven, Dishwasher, Disposal, Dryer, Gas Range, Microwave, Refrigerator, Washer
Interior:Building Area Total: 2437.0
Interior:Building Area Source: Assessor
Flooring:Ceramic Tile: Yes
Flooring:Varies: Yes
Flooring:Wood: Yes
Heating:Natural Gas: Yes
Appliances:Dishwasher: Yes
Appliances:Disposal: Yes
Appliances:Dryer: Yes
Appliances:Gas Range: Yes
Appliances:Microwave: Yes
Appliances:Oven: Yes
Appliances:Refrigerator: Yes
Appliances:Washer: Yes
Laundry Features:Common Area: Yes

Multi Family

Income & Expenses

Total Annual Operating Expenses: $3,753
Gross Scheduled Income: $37,140

Net Operating Income: $32,582
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:Gross Scheduled Income: $37,140
Income and Expenses:Net Operating Income: $32,582
Income and Expenses:Total Annual Expenses: $3,753
Income and Expenses:Vacancy Allowance: $1

Multi Family Information

Number Of Units Total: 2

Rental

Rent Information

Tenant Pays: All Utilities
Tenant Pays:All Utilities: Yes

Property History for 1347 Terrace Drive

Date	Event & Source	Price	Appreciation
Jun 23, 2023	Sold NNRMLS #220008187	$580,000	—
Jun 22, 2023	Sold (Public Record) Public Record #1513619324	$580,000	+191.1% / yr
May 12, 2023	Pending NNRMLS #220008187		—
Jun 9, 2022	Listed (Active) NNRMLS #220008187	$725,000	—
Mar 25, 2022	Sold (Public Record) Public Record #1487818734	$153,659	+11.6% / yr
Jun 25, 2018	Sold (Public Record) Public Record #626086285	$102,000	-8.8% / yr
May 14, 2018	Withdrawn NNRMLS #180006557		—
May 14, 2018	Listed (Active) NNRMLS #180006557	$629,000	—
Nov 22, 2006	Sold (Public Record) Public Record #211213097	$295,000	—
Jul 17, 2006	Withdrawn NNRMLS #60018094		—

Date	Event & Source	Price
06/23/2023	Sold NNRMLS #220008187	$580,000
06/22/2023	Sold (Public Record) Public Record #1513619324	$580,000 +191.1% / yr
05/12/2023	Pending NNRMLS #220008187	—
06/09/2022	Listed (Active) NNRMLS #220008187	$725,000
03/25/2022	Sold (Public Record) Public Record #1487818734	$153,659 +11.6% / yr
06/25/2018	Sold (Public Record) Public Record #626086285	$102,000 -8.8% / yr
05/14/2018	Withdrawn NNRMLS #180006557	—
05/14/2018	Listed (Active) NNRMLS #180006557	$629,000
11/22/2006	Sold (Public Record) Public Record #211213097	$295,000
07/17/2006	Withdrawn NNRMLS #60018094	—

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

Public Records for 1347 Terrace Drive

Taxable ValueLand$52,710Additions$24,006Total$76,716

Tax Record2025$1,382 ($115 / month)

Home Facts

Baths2Total Finished SqFt3,420 SqFtAbove Grade Finished SqFt1,088 SqFtFinished Basement SqFt2,332 SqFtStories1Lot Size5,520 SqFtStyleDuplexYear Built1928ZoningMUCountyWASHOEAPN007-123-02

Schools near 1347 Terrace Drive

This home is within Washoe County School District.


Rating	School	Type	Grades	Distance
4/10	Elmcrest Elementary School	Public - Serves this home	PK to 5	1.4 mi
5/10	Archie Clayton Middle School	Public - Serves this home	6 to 8	1.6 mi
7/10	Reno High School	Public - Serves this home	9 to 12	1.7 mi
NR	Marvin Picollo School	Public - Choice school	PK to 12	7.9 mi
7/10	Coral Academy Elementary-South	Charter - Choice school	K to 5	5.4 mi
1/10	Washoe Inspire Academy	Public - Choice school	6 to 12	4.2 mi
NR	Reno Christian Academy	Private - Nearby school	K to 8	0.9 mi


Rating	School	Distance
4/10	Elmcrest Elementary School PublicPK to 5 Serves this home	1.4 mi
5/10	Archie Clayton Middle School Public6 to 8 Serves this home	1.6 mi
7/10	Reno High School Public9 to 12 Serves this home	1.7 mi
NR	Marvin Picollo School PublicPK to 12 Choice school	7.9 mi
7/10	Coral Academy Elementary-South CharterK to 5 Choice school	5.4 mi
1/10	Washoe Inspire Academy Public6 to 12 Choice school	4.2 mi
NR	Reno Christian Academy PrivateK to 8 Nearby school	0.9 mi

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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Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 1347 Terrace Drive, Reno, NV 89503	$580,000	3	3	2,437	5,662
1351 Terrace Drive, Unit 100, Reno, NV 89503	$85,000	–	6	2,019	–
1337 Terrace Drive, Reno, NV 89503	–	2	1	921	5,520
1351 Terrace Drive, Reno, NV 89503	$1,650,000	–	6	2,019	4,153
1351 Terrace, Reno, NV 89503	$1,650,000	5	2	2,883	4,356
1333 Terrace Drive, Reno, NV 89503	$458,000	4	2	1,193	5,662
1365 Terrace Drive, Reno, NV 89503	$117,500	2	1	780	–
1325 Terrace Drive, Reno, NV 89503	$485,000	5	2	2,214	8,276
1375 Terrace Drive, Reno, NV 89503	–	2	1	1,008	4,790
1349 North Virginia Street, Reno, NV 89503	$9,350,000	3	1	2,176	5,520
1333 North Virginia Street, Reno, NV 89503	–	–	1	1,129	5,520
1341 North Virginia Street, Reno, NV 89503	$850,000	5	2	2,226	5,663
1341 Hillside Drive, Reno, NV 89503	–	–	1	994	7,000
1325 Hillside Drive, Reno, NV 89503	$153,000	–	1	1,312	8,100
1385 Terrace Drive, Reno, NV 89503	$113,000	3	1	912	4,790
1325 North Virginia Street, Reno, NV 89503	$500,000	–	2	971	5,520

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Listing Courtesy of All Star Realty, Ellen Lan, License #B.1002983

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.

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