1045 Riverside Drive

Description

Welcome to Loomis Manor at 1045 Riverside Dr, a prime multifamily investment property located in one of Reno's most sought-after areas, across from the picturesque Truckee River. This building offers an exceptional location within walking distance of Downtown Reno, the Riverwalk district, and the scenic parks along the river. It's surrounded by numerous restaurants, retail shops, and recreational opportunities, making it an ideal choice for renters looking to live in a vibrant and convenient neighborhood., This 18-unit apartment property boasts a 100% occupancy rate and is ideally located on Riverside Drive, just steps from the Truckee River and Downtown Reno. The building spans 9,679 square feet on a 0.44-acre lot and was originally constructed in 1934, with extensive renovations completed on 11 units in 2022. Residents enjoy ample parking, with a ratio of 1.86 spaces per 1,000 square feet, as well as modern kitchens, updated bathrooms, and spacious living areas. With strong value-add potential through continued renovations, the property is well-positioned to benefit from the neighborhood's ongoing growth and popularity among young professionals and families, offering investors attractive long-term rental income and appreciation prospects.