Date
Details
Price
Change
Source
6/20/2026
Listed
$650,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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Property Description
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.
Full Property Details
Full Property Details for 1301 Faland Way #1, 2, 3
General
- Price: $650,000
- Taxes: $1,188
- Status: Active
- Type: Triplex
- Source: 2502
- MLS ID: 260007966
- Updated: 6/20/2026
- Added to Site: 1 day(s) ago
Interior
- Appliances: Dishwasher, Dryer, Electric Range, Refrigerator, Washer
- Flooring: Carpet, Laminate, Luxury Vinyl, Tile
Rooms
Bathrooms
- Total Bathrooms: 3
Bedrooms
- Total Bedrooms: 4
Other Rooms
- Laundry: Common Area, Varies By Unit
Additional Information
- Security/Safety: Smoke Detector(s)
Exterior
- Exterior Features: None
- Porch/Patio/Deck: Patio
Parking
- Total Spaces: 10
- Parking Features: Common, Parking Pad, Varies by Unit
Location
- County: Washoe
- Subdivision: University Terrace
- Cross Streets: GPS
- Driving Directions: GPS
School Information
- Elementary School: Elmcrest
- Middle School: Clayton
- High School: Reno
Heating & Cooling
- Heating Type: Forced Air, Oil
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable Connected, Electricity Connected, Internet Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Cellular Coverage, Water Meter Installed
- # Water Meters: 3
- # Gas Meters: 3
- # Electric Meters: 3
Structural Information
- # Buildings: 1
- Exterior Const.: Wood Siding, Other
- Roof: Pitched, Shingle
- Windows: Varies
- Stories/Levels: 2
- Building Size: 2040
- Year Built: 1941
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1
- Lot Size (Sq. Ft.): 4,122
- Lot Features: Corner Lot, Landscaped
- Zoning: MF14
- Fencing (Description): Partial
Financial Considerations
- Tax Amount: $1,188.39
- Terms: 1031 Exchange, Cash, Conventional
- Tenant Pays: All Utilities
Disclosures and Reports
- APN: 007-101-12
Listed by RE/MAX Professionals-Reno, Nicholas Abe (775) 233-7356 and RE/MAX Professionals-Reno, Kane and Partners Real Estate
We Value Your Privacy
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Listing agents
— 1301 Faland Way #1, 2, 3 —
Nicholas Abe
RE/MAX Professionals-Reno
Kane and Partners Real Estate
RE/MAX Professionals-Reno
NMLS#: 1598647
Get Pre-Approved Today
Get a Great Insurance Rate
Schools
Schools serving 1301 Faland Way #1, 2, 3
School District:Washoe County School District
| Name | Grades | Distance |
|---|---|---|
Elmcrest Elementary School 855 Mc Donald Drive, Reno, NV 89503 | K-5 | 1.1 mi |
Archie Clayton Middle School 1295 Wyoming Avenue, Reno, NV 89503 | 6-8 | 1.3 mi |
Reno High School 395 Booth Street, Reno, NV 89509 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1301 Faland Way #1, 2, 3
Tax History
Tax History for 1301 Faland Way #1, 2, 3
Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,188
8%
$77,044
2%
2024
$1,102
3%
$75,734
4%
2023
$1,072
3%
$72,782
18%
2022
$1,040
3%
$61,938
17%
2021
$1,010
—
$52,983
3%
2021
$1,010
6%
$51,601
9%
2019
$950
3%
$47,459
36%
2018
$925
4%
$34,906
7%
2017
$887
2%
$32,653
20%
2016
$870
—
$27,286
5%
2015
$871
3%
$25,959
11%
2014
$846
—
$23,472
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1301 Faland Way #1, 2, 3
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- Mobile Home
- Active
- Updated 2 days ago
- 4Beds
- 2Total Baths
- 1,620Sq. Ft.
- Mobile Home
- Active
- Updated 6 days ago
- 4Beds
- 3Total Baths
- 1,780Sq. Ft.
- Mobile Home
- Active
- Updated 5 days ago
- 3Beds
- 3Total Baths
- 1,440Sq. Ft.
- Mobile Home
- Active
- Updated 4 days ago
- 3Beds
- 2Total Baths
- 1,632Sq. Ft.
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- Single Family
- Active
- Updated 10 hours ago
- 4Beds
- 4Total Baths
- 2,941Sq. Ft.
- Single Family
- Active
- Updated 5 days ago
- 3Beds
- 2Total Baths
- 1,696Sq. Ft.
- Single Family
- Active
- Updated 6 days ago
- 4Beds
- 3Total Baths
- 2,360Sq. Ft.
- Single Family
- Active
- Updated 2 days ago
- 4Beds
- 3Total Baths
- 2,798Sq. Ft.
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- Single Family
- Closed
- Updated 3 hours ago
- 3Beds
- 2Total Baths
- 1,872Sq. Ft.
1301 Faland Way #1, 2, 3, Reno, NV 89503 (MLS# 260007966) is a Triplex property with 4 bedrooms and 0 full bathrooms. 1301 Faland Way #1, 2, 3 is currently listed for $650,000 and was received on June 21, 2026. Want to learn more about 1301 Faland Way #1, 2, 3? Do you have questions about finding other Triplex real estate for sale in Reno Heights? You can browse all Reno Heights real estate or contact a Coldwell Banker agent to request more information.