485 E 7th St

2,146 Sq. Ft.
$406 / Sq. Ft.
2,146
Sq. Ft.
$406
per Sq. Ft.

Description

Participate in the booming growth of Northern Nevada! This stabilized multi-family building produces stable cash flow, has low operating expenses, and is poised for strong long-term appreciation. This turnkey property features 6 recently remodeled studio units, walking distance to downtown and the University of Nevada, Reno.Participate in the booming growth of Northern Nevada! This stabilized multi-family building produces stable cash flow, has low operating expenses, and is poised for strong long-term appreciation. This turnkey property features 6 recently remodeled studio units, walking distance to downtown and the University of Nevada, Reno.
  1. Listed by Wesley Pittman • eXp Realty

Property Details for 485 East 7th Street

Zoning Actual
MD-ID
Total Parking Capacity
6
LISTING CLOSED: 01/12/2023 04:00 PM

Property Details for 485 East 7th Street

StatusSold
MLS #220015066
Days on Compass91
Taxes$1,462 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeMulti-Family / Apartment Building (up to 8 Units)
Year Built1932
Lot Size0.16 AC / 6,969 SF
CountyWashoe County

Location

Listing Courtesy of eXp Realty, Wesley Pittman, License #11210

Sold By Dickson Realty - Sparks, Kayla Dalton, License #11516

Add your commute

Building Information for 485 East 7th Street

Stories1Residences-Year Built1932Building Size-Lot Size0.16 AC / 6,969 SF

Payment Calculator

$4,464 per month

30 year fixed, 6.36% Interest

Principal and Interest

$4,342

Property Taxes

$122

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 485 East 7th Street

Summary
Location and General Information
  • Area: Reno-Downtown Core
  • Zip: 89512
  • Geo Latitude: 39.535054
  • Geo Longitude: -119.808095
  • Geo Quality: 0.95
  • Geo Zoom Level: 14.0
  • Geo Address Line: 485 E 7th St
  • Geo Primary City: Reno
  • Geo Subdivision: NV
  • Geo Postal Code: 89512
  • Geo Match Code: 0
  • Geo Matched Method: 0
  • Address: 485 E 7Th St
  • County: Washoe
  • Elementary School: Booth
  • Middle School: Vaughn
  • High School: Wooster
  • Xstreet/Directions: E 7th and Valley Rd
  • Source of Zoning: Assessor
Taxes and HOA Information
  • CC/R Restrictions: No
  • Sliding Scale: No
  • Taxes $: $1,462.00
Parking
  • Parking Capacity per Unit: 1
  • Parking Types: Designated Parking
Property
Lot Information
  • Class: Multi-Family
  • Type: Multi-Family
  • Source of SqFt: Assessor
  • Year Built: 1932.0
  • Acreage: 0.16
  • Type of Property: Apartment Building (up to 8 Units)
  • Parcel #: 00723218
  • Complex Name: N/A
  • Gross Square Footage: 2146.0
Property and Assessments
  • Cap Rate: 6.00%
  • Documents On File: Rental/Leases
  • ADA Compliant: No
  • APOD Available: Yes
  • Construction: Masonry
  • Assessment $: $.00
  • Associated Document Count: 0
  • LVT Date: 10-14-2022
Utilities
  • Individually Metered: No
Interior and Exterior Features
Interior Features
  • Heating/Cooling: Baseboard, Electric, Varies by Unit
  • Water Heater: Electric
  • Windows: Double Pane, Vinyl Frame
  • Facility Features: Landlord Pays Utilities, Master Meter-Water, Separate Heating/Cooling, Separate Meters-Electric, Separate Water Heaters, Tenant Pays Utilities
  • Common Features: Alley Access, Security Lighting
  • Unit Features: Blinds/Shades, Smoke Detector, Varies Per Unit
  • Appliances: Dryer, Oven/Range, Refrigerator, Washer
  • Laundry: Common
  • Flooring: Vinyl Tile
Exterior Features
  • Foundation: Basement/Finished, Concrete/Crawl Space
  • Exterior: Brick
  • Roof: Composition/Shingle
  • Utilities: City/County Water, City Sewer, Electricity, Water Meter Installed
  • Landscaped: Partially Landscaped
  • Sprinklers: Automatic, Drip-Front, Front
  • Fenced: Partial
Room
  • Studio - # Baths: 1
  • 1 Bedroom - # Baths: 0
  • 1 Bedroom - # Units: 0
  • 1 Bedroom - SqFt/Unit: 0
  • 1 Bedroom - Avg Rent/Unit: 0
  • 2 Bedroom - # Baths: 0
  • 2 Bedroom - # Units: 0
  • 2 Bedroom - SqFt/Unit: 0
  • 2 Bedroom - Avg Rent/Unit: 0
  • 3 Bedroom - # Baths: 0
  • 3 Bedroom - # Units: 0
  • 3 Bedroom - SqFt/Unit: 0
  • 3 Bedroom - Avg Rent/Unit: 0
  • 4+ Bedroom - # Baths: 0
  • 4+ Bedroom - # Units: 2
  • 4+ Bedroom - SqFt/Unit: 0
  • 4+Bedroom - Avg Rent/Unit: 100
  • Manager Unit - # Bedrooms: 0
  • Manager Unit - # Baths: 0
  • Manager Unit - SqFt: 0
  • Studio - # Units: 6
  • Studio - SqFt/Unit: 300
Multi Family
Multi-Family Information
  • Studio - Average/Unit: 1100
  • # Buildings: 1
  • # Units: 6
  • Stories: 1 Story
Income & Expenses
  • Income Info w/h: No
  • Annual Debt Service: $.00
  • Annual Expenses: $17,820.00
  • Annual Income & Expenses: Pro Forma
  • Gross Scheduled Income: $80,400.00
  • Net Operating Income: $59,418.00
Agent
Showing and Remarks
  • Showing Instructions: Drive By
Sale and Listing
  • Sale/Rent: For Sale
  • DOM: 91
  • DOMLS: 91
  • Cumulative DOM: 91
  • Cumulative DOMLS: 91
  • Possession: COE
  • Sale/Lease: For Sale
  • Contact Name: Wesley Pittman
  • Contact Phone: 775-544-1169
Rental
Rent Information
  • Annual Vacancy: $3.00
  • Current Lease: Leases

Property History for 485 East 7th Street

DateEvent & SourcePriceAppreciation
Jan 12, 2023

Sold

NNRMLS #220015066

$871,360
Jan 10, 2023

Sold (Public Record)

Public Record #1504329676

$871,360

+6.4% / yr

Dec 21, 2022

In Contract

NNRMLS #220015066

DateEvent & SourcePrice
01/12/2023

Sold

NNRMLS #220015066

$871,360
01/10/2023

Sold (Public Record)

Public Record #1504329676

$871,360

+6.4% / yr

12/21/2022

In Contract

NNRMLS #220015066

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

Public Records for 485 East 7th Street

Taxable ValueLand$61,600Additions$25,319Total$86,919
Tax Record2025$1,838 ($153 / month)
Home Facts
Baths6Total Finished SqFt2,146 SqFtAbove Grade Finished SqFt1,332 SqFtFinished Basement SqFt814 SqFtStories1Lot Size7,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1932ZoningMD-IDCountyWASHOEAPN007-232-18

Schools near 485 East 7th Street

This home is within Washoe County School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 4
Rating
School
Distance
Libby C Booth Elementary School
PublicPK to 5

E Otis Vaughn Middle School
Public6 to 8

Earl Wooster 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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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 eXp Realty, Wesley Pittman, License #11210

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.