About 1301 Faland Way 1, 2, 3
LOCATION LOCATION LOCATION! This 3-unit multifamily property is gleaming with potential. Ideally located within walking distance of the University of Nevada, Reno and Downtown Reno, making it highly attractive to students, professionals, and renters alike. Each unit features its own private entrance, providing added privacy and appeal. The charming detached 1-bedroom, 1-bath "cottage" offers a generous side yard complete with raised garden beds and lots of space to play. The upstairs unit is a move-in-ready 2-bedroom, 1-bath with plenty of natural light and comfortable living space. The downstairs unit is a spacious 1-bedroom, 1-bath featuring an oversized bedroom and is currently vacant while undergoing cosmetic improvements. With a little vision and finishing touches, this property has the potential to achieve an estimated 7% CAP rate - an increasingly rare opportunity in today's market. Whether you're looking to expand your portfolio, house-hack, or invest in a high-demand rental area, this property checks all the boxes. Don't miss your chance, this one won't last long! Agents, please read private remarks.
Features of 1301 Faland Way 1, 2, 3
| MLS® # | 260007966 |
|---|---|
| Price | $650,000 |
| Bedrooms | 4 |
| Bathrooms | 3.00 |
| Acres | 0.10 |
| Year Built | 1941 |
| Type | Residential Income |
| Sub-Type | Triplex |
| Status | Active |
Community Information
| Address | 1301 Faland Way 1, 2, 3 |
|---|---|
| Area | 89503 |
| City | Reno |
| County | Washoe |
| State | NV |
| Zip Code | 89503 |
Amenities
| Utilities | Cellular Coverage, Internet Connected, Water Meter Installed, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Oil |
|---|---|
| Parking Spaces | 10 |
| Parking | Common, Parking Pad, Varies by Unit |
| Has Pool | No |
| Pool | None |
Interior
| Appliances | Dryer, Dishwasher, Electric Range, Refrigerator, Washer |
|---|---|
| Heating | Forced Air, Oil |
| Fireplace | No |
Exterior
| Exterior Features | None |
|---|---|
| Lot Description | Corner Lot, Landscaped |
| Windows | Varies |
| Roof | Pitched, Shingle |
| Construction | Other, Wood Siding |
| Foundation | Slab |
School Information
| Elementary | Elmcrest |
|---|---|
| Middle | Clayton |
| High | Reno |
Additional Information
| Date Listed | June 21st, 2026 |
|---|---|
| Zoning | MF14 |
| Short Sale | No |
| RE / Bank Owned | No |
| Horse Property | N |
Listing Details
| Office | RE/MAX Professionals-Reno |
|---|