Homes for sale - 336 E 7th ST, Reno, NV 89512

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Kristi Ghent

kristi@ghentteam.com +1(916) 759-1084

$450,000

Est. payment - /mo

6 Beds

2 Baths

1,128 SqFt

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Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,128 sqft

Price per Sqft $398

Subdivision Evans Northeast Addition

MLS Listing ID 250056342

Bedrooms 6

Full Baths 2

Year Built 1930

Annual Tax Amount $985

Lot Size 5,600 Sqft

Acres 0.13

Lot Dimensions 0.13

Property Sub-Type Single Family Residence

Property Description

Exceptional investment and development opportunity in Reno's Downtown-University District. This listing includes two contiguous parcels (only being sold together) at 336 & 344 East 7th Street, just blocks from the University of Nevada, Reno. Combined, the lots total approximately 12,600 sq. ft. (0.29 acres) and are zoned MD-UD (Mixed-Use Downtown - University District), one of Reno's most progressive zoning designations designed to encourage university-supportive housing, retail, and innovation uses. City Planning confirms no entitlements are required for the proposed conceptual project. Zoning allows a Floor Area Ratio of 3.0 to 4.0, which supports approximately 37,800 to 50,400 buildable square feet. There is no height limit under MD-UD zoning. Setbacks include 12 feet at the front and zero at the sides and rear (5 feet if abutting residential). Parking requirements are zero. Bicycle storage requirements are approximately 1.5 spaces per unit; a 115-unit concept would require about 170 secured bike spaces. A recent feasibility study highlights a conceptual plan as a four-story student-focused housing project of approximately 45,000 sq. ft., with an efficient mix of 75 studios (300 sq. ft.) and 40 one-bedrooms (500 sq. ft.), totaling about 115 units. Market rents in the University District average 1,100 for studios and 1,400 for one-bedrooms, supporting gross annual income of approximately 1.66M and net operating income of about 1.16M after 30 percent expenses. Projected development costs, including land and construction at 300 per sq. ft., are estimated around 14.5M, supporting an 8 percent return on cost. This is only a conceptual plan and not to be relied on as factual. The site benefits from its prime location near UNR, Midtown, and Downtown Reno, excellent access to transit, and proximity to retail, dining, and educational amenities. With by-right zoning, zero parking requirements, and strong rental demand from students and young professionals, this is a rare opportunity to deliver a high-yield urban infill project in one of Reno's most dynamic submarkets.

Location

State NV

County Washoe

Community Evans Northeast Addition

Area Evans Northeast Addition

Zoning MD-UD

Rooms

Family Room None

Other Rooms Unfinished Basement

Dining Room None

Kitchen None

Interior

Heating Oil

Flooring Varies

Fireplace No

Laundry None

Exterior

Exterior Feature None

Parking Features Alley Access

Pool None

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Y/N No

Roof Type Composition,Shingle

Garage No

Building

Lot Description Level

Story 1

Foundation Concrete Perimeter, Wood, Other

Water Public

Structure Type Wood Siding,Other

New Construction No

Schools

Elementary Schools Booth

Middle Schools Vaughn

High Schools Wooster

Others

Tax ID 007-231-06

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Other

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Listed by RE/MAX Gold

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+1(916) 759-1084

kristi@ghentteam.com

336 E 7th ST Reno, NV 89512