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Sold on 01/13/2023

485 E 7th St, Reno, NV 89512

$751,466

Last sold 01/13/2023 for $871K

  • —

    bed

  • —

    bath

  • 2,146

    Sqft ($406/Sqft)

Multi-family not for sale
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About 485 E 7th St

Property type Multi-family
Neighborhood
Year built 1932
HOA fee $0/month
Lot size 6,970 Sqft
Movoto estimate
Rental estimate
Property description
Participate in the booming growth of Northern Nevada! This stabilized multi-family building produces stable cash flow, has low operating expenses, and is poised for strong long-term appreciation. This turnkey property features 6 recently remodeled studio units, walking distance to downtown and the University of Nevada, Reno.
Listed by
Listing Agent - Wesley Pittman
Listing Office - eXp Realty
Source: NNRMLS mls logo
MLS#220015066 • last updated 3 years ago
Movoto checked NNRMLS for data 11 minutes ago
Overview
Cooling/AC Baseboard, Electric, Varies By Unit
Levels/Style 1 Story
Year Built 1932
SubType Apartment Building (up To 8 Units)
Lot Size (Acres) 0.16
HOA 2 Special Assessments 3
Interior
Flooring Vinyl Tile
Windows Double Pane, Vinyl Frame
Appliances Dryer, Oven/Range, Refrigerator, Washer
Exterior
Construction Masonry
Skirting Pro Forma
Roof Composition/Shingle
Exterior Brick
Foundation Basement/Finished, Concrete/Crawl Space
# Parking Spaces 6
Parking Desc Designated Parking
Sprinklers Automatic, Drip-Front, Front
Fencing Partial
Amenities / Utilities
Utilities City/County Water, City Sewer, Electricity, Water Meter Installed
Water Heater Electric
Green Features Double Pane Windows
Common Features Alley Access, Security Lighting
Location
Area Reno-Downtown Core
County Washoe
Subdivision NV
Middle School Vaughn
High School Wooster
Elementary School Booth
Zoning MD-ID
APN 723218
Multifamily Details
Studio: Avg Rent/Unit 1100
Studio: # Baths 1
Studio - SqFt/Unit 300
# 4+ BR Units 2
Studio: # Units 6
Unit Features Blinds/Shades, Smoke Detector, Varies Per Unit
4+ BR Units: Avg Rent/Unit 100
# Units 6
Unit Features Landlord Pays Utilities, Master Meter-Water, Separate Heating/Cooling, Separate Meters-Electric, Separate Water Heaters, Tenant Pays Utilities
# Buildings 1
Gross Scheduled Income 80400
Net Operating Income 59418
Cap Rate 6
Lot/ Land Details
Road Access Public
$751K
Range: $676K-$826K
Last 30 days 
Rental est.: $855/month
Gross rent multiplier: 84.9
  • Jan 2023
    mls logo MLS # 220015066
  • Jan 13, 2023 Sold
    $871,360 (-17.0%)
  • Dec 22, 2022 Under Contract-No Show
    —
  • Nov 16, 2022 Price Reduced
    $1,050,000 (-8.7%)
  • Nov 4, 2022 Price Reduced
    $1,150,000 (-4.2%)
  • Oct 14, 2022 Listed
    $1,200,000 (+45.5%)
  • Feb 2022
    mls logo MLS # 220001058
  • Feb 24, 2022 Sold
    $825,000 (+3.3%)
  • Feb 1, 2022 Under Contract-Show
    —
  • Jan 29, 2022 Listed
    $799,000
  • Year Property taxes Tax assessment
  • 2025
    $1,838 +7.7%
    $86,919 +0.04%
  • 2024
    $1,707 +7.7%
    $86,885 +8.11%
  • 2023
    $1,585 +8.3%
    $80,368 +17.12%
  • 2022
    $1,463 +7.9%
    $68,622 +11.77%
  • 2021
    $1,356 +6.5%
    $61,398
  • 2020
    $1,273 +7.6%
    $61,398 +13.51%
  • 2018
    $1,184 +6.5%
    $54,091 +32.88%
  • 2016
    $1,112 +86.2%
    $40,707
  • 2015
    $597
    —
  • 485 E 7th St
    $871K
  • Downtown Reno
    $349K -10% y/y
  • 89512
    $460K +27% y/y
  • Reno
    $649K 0% y/y
No chart available
Statistics calculated by Movoto

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4/10
Libby C Booth Elementary School
public Grades PK, K-5
Washoe County School District
3/10
E Otis Vaughn Middle School
public Grades 6-8
Washoe County School District
4/10
Earl Wooster High School
public Grades 9-12
Washoe County School District
Source: GreatSchools.org © 2026. All rights reserved.

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