540 West 2nd Street

Closed 10/24/24
Closed 10/24/24
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Last Sold Price
$1,170,000
7 beds5 baths4,093 sqft$286/sqft
540 W 2nd St, Reno, NV 89503

Description

Unique opportunity to own a newly renovated, fully furnished, 4 unit building located blocks from downtown Reno. Units have high ceilings, appliances, tasteful decor, and lots of charm. The fully landscaped outdoor space features a hot tub, artificial grass, lighting, and covered awnings. New heating and cooling systems were installed in 2017. This property has tons of historical character, with modern upgrades and finishing., The owners have meticulously curated almost every aspect of the building,...Unique opportunity to own a newly renovated, fully furnished, 4 unit building located blocks from downtown Reno. Units have high ceilings, appliances, tasteful decor, and lots of charm. The fully landscaped outdoor space features a hot tub, artificial grass, lighting, and covered awnings. New heating and cooling systems were installed in 2017. This property has tons of historical character, with modern upgrades and finishing., The owners have meticulously curated almost every aspect of the building, and the running of their rental business. Most of the building is rented out for short term occupants, who consistently leave 5 star reviews. There is also one long term month-to-month tenant. A slew of resources are available to the next owner, if needed, including a staff who takes care of reservation and cleaning. The building has a built in hospitable reputation.
LISTING CLOSED: 10/24/2024 12:00 AM

  1. Listed by Brandon Hapin • Ferrari-Lund Real Estate Reno
    P: (775) 400-5338 bhapin@kw.com
  2. Listed by Gloria Hapin • Keller Williams Group One Inc.
    P: (775) 823-8787 gonefishin279@gmail.com

Property Details for 540 West 2nd Street

Status
Closed
MLS #
240005321
Days on Compass
170
Taxes
$3,134 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Multi Family
MLS Type
Residential Income / Quadruplex
Year Built
1914
Lot Size
0.16 AC / 6,969 SF
County
Washoe County
Zoning
MUDR

Recent comparable sales

Median sold price

$1,035,000

Avg days on market

132

Sale-to-list ratio

93.8%

[Reno, NV]

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Building Information for 540 West 2nd Street

Stories2Residences4Year Built1914Building Size-Lot Size0.16 AC / 6,969 SF

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$6,208 per month

30 year fixed, 6.55% Interest

Principal and Interest

$5,947

Property Taxes

$261

HOA Dues

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Property Information for 540 West 2nd Street

Summary
Location and General Information
  • Directions: Bell St
  • Address:Parcel Number: 01102217
Taxes and HOA
  • Association Amenities: Barbecue
  • Association Fee: $0
  • Tax Annual Amount: $3,134
  • Tax Legal:Elementary School: Hunter Lake
  • Tax Legal:Middle Or Junior School: Swope
  • Tax Legal:High School: Reno
  • Tax Legal:Tax Annual Amount: $3,134
  • Tax Legal:Special Assessments and Bonds Other Than CIC: 0.0
  • Tax Legal:Zoning: MUDR
  • Tax Legal:Directions: Bell St
  • AssociationCommunity:Number Of Buildings: 1.0
  • Association Amenities:Barbecue: Yes
Parking
  • Attached Garage YN: No
  • Parking Features: Common, Garage
  • Parking Total: 4.0
  • Parking Information:Parking Total: 4.0
  • Parking Features:Common: Yes
  • Parking Features:Garage: Yes
School Information
  • Elementary School: Hunter Lake
  • High School: Reno
  • Middle Or Junior School: Swope
Property
Lot Information
  • Lot Features: Landscaped, Sprinklers In Front, Other
  • Lot Size Acres: 0.16
  • Lot Size Area: 0.16
  • Lot Size Square Feet: 6969.6
  • Lot Size Units: Acres
  • Water Source: Public
  • Building Area Total: 4093.0
  • Lot:Lot Size Acres: 0.16
  • Lot:Lot Size Square Feet: 6969.6
  • Lot Features:Landscaped: Yes
  • Lot Features:Sprinklers In Front: Yes
  • Lot Features:Other: Yes
Property and Assessments
  • Parcel Number: 01102217
  • Possession: Subject To Tenant Rights
  • Road Frontage Type: Public
  • Road Responsibility: Public Maintained Road
  • Property Type: Residential Income
  • Year Built: 1914
  • Property Sub Type: Quadruplex
  • Number Of Buildings: 1
  • Possession:Subject To Tenant Rights: Yes
  • Road Frontage Type:Public: Yes
  • Road Responsibility:Public Maintained Road: Yes
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Sewer Available, Water Available, Water Meter Installed
  • Electric: True
  • Utilities:Cooling YN: Yes
  • Utilities:Heating YN: Yes
  • Utilities:Electricity Available: Yes
  • Utilities:Sewer Available: Yes
  • Utilities:Water Available: Yes
  • Utilities:Water Meter Installed: Yes
  • Sewer:Public Sewer: Yes
  • Water Heater:Central: Yes
  • Water Heater:Electric: 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: No
Interior and Exterior Features
Exterior Features
  • Stories: 2
  • Construction Materials: Frame, Vinyl Siding
  • Exterior Features: Balcony
  • Fencing: Back Yard
  • Foundation Details: Stone
  • Other Equipment: Varies By Unit
  • Other Structures: Shed(s), Storage
  • Roof: Composition, Pitched, Shingle
  • Security Features: Smoke Detector(s)
  • Window Features: Blinds, Double Pane Windows, Drapes
  • Building:Number Of Units Total: 4.0
  • Building:Stories: 2.0
  • Building:Units Furnished: Varies By Unit
  • Construction Materials:Frame: Yes
  • Construction Materials:Vinyl Siding: Yes
  • Exterior Features:Balcony: Yes
  • Fencing:Back Yard: Yes
  • Foundation Details:Stone: Yes
  • Other Equipment:Varies By Unit: Yes
  • Other Structures:Shed(s): Yes
  • Other Structures:Storage: Yes
  • Roof:Composition: Yes
  • Roof:Pitched: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • Sprinklers:Automatic: Yes
  • Sprinklers:Drip System: Yes
  • Window Features:Blinds: Yes
  • Window Features:Double Pane Windows: Yes
  • Window Features:Drapes: Yes
Interior Features
  • Cooling: Electric, Wall/Window Unit(s)
  • Cooling YN: Yes
  • Flooring: Carpet, Laminate, Varies, Vinyl, Wood
  • Heating: Electric
  • Heating YN: Yes
  • Laundry Features: Common Area, In Hall, Varies By Unit
  • Bathrooms Total Integer: 0
  • Bathrooms Total Decimal: 0.0
  • Bathrooms Total Notational: 0.0
  • Appliances: Oven, Dishwasher, Dryer, Gas Range, Refrigerator, Washer
  • Interior:Building Area Total: 4093.0
  • Interior:Building Area Source: Assessor
  • Cooling:Electric: Yes
  • Cooling:Wall/Window Unit(s): Yes
  • Flooring:Carpet: Yes
  • Flooring:Laminate: Yes
  • Flooring:Varies: Yes
  • Flooring:Vinyl: Yes
  • Flooring:Wood: Yes
  • Heating:Electric: Yes
  • Appliances:Dishwasher: Yes
  • Appliances:Dryer: Yes
  • Appliances:Gas Range: Yes
  • Appliances:Oven: Yes
  • Appliances:Refrigerator: Yes
  • Appliances:Washer: Yes
  • Laundry Features:Common Area: Yes
  • Laundry Features:In Hall: Yes
  • Laundry Features:Varies By Unit: Yes
Multi Family
Income & Expenses
  • Total Annual Operating Expenses: $55,440
  • Gross Scheduled Income: $168,000
  • Net Operating Income: $78,960
  • Income and Expenses:Income Info Withheld YN: No
  • Income and Expenses:Annual Debt Service: 0.0
  • Income and Expenses:Annual Income & Expenses: Pro Forma
  • Income and Expenses:Gross Scheduled Income: $168,000
  • Income and Expenses:Net Operating Income: $78,960
  • Income and Expenses:Total Annual Expenses: $55,440
  • Income and Expenses:Vacancy Allowance: $33,600
Multi Family Information
  • Units Furnished: Varies By Unit
  • Number Of Units Total: 4
Rental
Rent Information
  • Tenant Pays: All Utilities
  • Tenant Pays:All Utilities: Yes

Property History for 540 West 2nd Street

DateEvent & SourcePriceAppreciation
Oct 24, 2024

Sold

NNRMLS #240005321

$1,170,000—
Oct 18, 2024

Sold (Public Record)

Public Record #1543830772

$1,170,000

+10.7% / yr

Sep 30, 2024

Pending

NNRMLS #240005321

—
DateEvent & SourcePrice
10/24/2024

Sold

NNRMLS #240005321

$1,170,000
10/18/2024

Sold (Public Record)

Public Record #1543830772

$1,170,000

+10.7% / yr

09/30/2024

Pending

NNRMLS #240005321

—

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

Public Records for 540 West 2nd Street

Taxable ValueLand$58,625Additions$58,183Total$116,808
Tax Record2025$2,523 ($210 / month)
Home Facts
Baths6Total Finished SqFt4,104 SqFtAbove Grade Finished SqFt4,104 SqFtStories2Lot Size7,013 SqFtStyleMulti-Family Dwelling (2-4)Year Built1914Year Renovated1914ZoningMD-PDCountyWASHOEAPN011-022-17

Schools near 540 West 2nd Street

This home is within Washoe County School District.
Rating
School
Type
Grades
Distance
Hunter Lake Elementary School
Public - PK to 5
Darrell C Swope Middle School
Public - 6 to 8
Reno High School
Public - 9 to 12
Washoe Innovations Academy
Public - PK to 12
Rating
School
Distance
Hunter Lake Elementary School
PublicPK to 5

Darrell C Swope Middle School
Public6 to 8

Reno High School
Public9 to 12

Washoe Innovations Academy
PublicPK to 12

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

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 540 West 2nd Street, Reno, NV 89503
$1,170,000
7
5
4,093
6,969
526 West 2nd Street, Reno, NV 89503
–
–
4
6,121
7,000
142 Bell Street, Reno, NV 89503
–
–
2
2,455
7,000
134 Bell Street, Reno, NV 89503
–
–
3
3,047
6,991
518 West 2nd Street, Reno, NV 89503
–
–
4
3,486
4,500
527 West 2nd Street, Reno, NV 89503
–
–
4
2,375
11,711

Explore Nearby Homes

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Listing Courtesy of Ferrari-Lund Real Estate Reno, Brandon Hapin, License #S.199414; Keller Williams Group One Inc., Gloria Hapin, License #S.184485

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.