250 College Dr Reno, NV 89503
West University NeighborhoodEstimated payment $6,271/month
Highlights
- RV Access or Parking
- Corner Lot
- Cooling System Mounted To A Wall/Window
- Reno High School Rated A
- Double Pane Windows
- Shed
About This Home
Exceptional investment opportunity located just blocks from The University of Nevada Reno, easy access to the lively downtown area and a short trip to the popular Rancho San Rafael Regional Park. This rare multifamily property sits on a prominent corner lot and includes two well-maintained duplexes (4 total units). With flexible MF-30 zoning, there is significant upside potential for future redevelopment, additional units, or long-term cash flow. Ample off-street parking for residents. Each of the units have attractive laminate flooring throughout and an abundance of natural light from the windows. The single-level layout of each unit features an open floorplan, creating a comfortable and inviting living space. Whether you're seeking a turnkey cash-flowing asset or a strategic redevelopment play, this property offers the flexibility and location that seasoned investors seek. Opportunities like this—zoned MF-30, on a corner lot, and walking distance to a major university—don't come along often.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,792
Year Built
- Built in 1955
Lot Details
- 9,583 Sq Ft Lot
- Back Yard Fenced
- Corner Lot
- Level Lot
- Front Yard Sprinklers
- Manual Sprinklers System
Home Design
- Quadruplex
- Pitched Roof
- Shingle Roof
- Asphalt Roof
- Shingle Siding
- Stick Built Home
Interior Spaces
- 2,470 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Double Pane Windows
- Vinyl Clad Windows
- Laminate Flooring
- Crawl Space
- Fire and Smoke Detector
- Dishwasher
Laundry
- Laundry in unit
- Dryer
- Washer
Parking
- 8 Parking Spaces
- Parking Pad
- 2 Parking Spaces Included
- Common or Shared Parking
- RV Access or Parking
Outdoor Features
- Shed
Schools
- Elmcrest Elementary School
- Clayton Middle School
- Reno High School
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Separate Meters
- Natural Gas Connected
- Individual Gas Meter
- Separate Water Meter: 2
- Electric Water Heater
- Internet Available
Listing and Financial Details
- The owner pays for sewer
- Assessor Parcel Number 007-105-01
Community Details
Overview
- 2 Buildings
- 4 Units
- Reno Community
- University Terrace Subdivision
Building Details
- 3 Leased Units
- 1 Vacant Unit
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 2 Separate Water Meters
- Vacancy Allowance $2,400
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,792 | $90,432 | $65,730 | $24,702 |
| 2024 | $1,661 | $89,209 | $64,225 | $24,984 |
| 2023 | $1,661 | $82,795 | $61,250 | $21,545 |
| 2022 | $1,540 | $70,771 | $52,500 | $18,271 |
| 2021 | $1,426 | $61,666 | $43,750 | $17,916 |
| 2020 | $1,340 | $59,686 | $42,000 | $17,686 |
| 2019 | $1,277 | $58,734 | $42,000 | $16,734 |
| 2018 | $1,219 | $46,861 | $30,800 | $16,061 |
| 2017 | $1,170 | $43,558 | $27,930 | $15,628 |
| 2016 | $1,141 | $39,130 | $23,520 | $15,610 |
| 2015 | $1,139 | $35,221 | $19,600 | $15,621 |
| 2014 | $1,103 | $29,915 | $15,400 | $14,515 |
| 2013 | -- | $29,499 | $15,400 | $14,099 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/20/2025 08/20/25 | Price Changed | $1,149,000 | -8.1% | $465 / Sq Ft |
| 06/13/2025 06/13/25 | For Sale | $1,250,000 | -- | $506 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | -- | |
| Bargain Sale Deed | $185,000 | First Centennial Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $121,309 | Unknown | |
| Closed | $166,500 | No Value Available |
Source: Northern Nevada Regional MLS
MLS Number: 250051510
APN: 007-105-01
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