190 Locust Street

Description

190 Locust is an 8-unit multifamily property in Reno's supply-constrained 89502 submarket — offered on its own or alongside its nearly identical sister building at 900 Willow Street for buyers who want to double up to 16 doors in a single transaction. The two properties are separately parceled, so investors can take one or both. Constructed in 1964 with concrete block and masonry bearing walls, this two-story building carries eight uniform 506 SF one-bedroom, one-bath units across 4,048 SF of building on a 5,461 SF lot zoned Mixed-Use (MU). 190 Locust also includes a 276 SF basement area — currently used for storage but plumbed with real potential for conversion into a common-area laundry room, opening up a new income stream and a straightforward lift to NOI. The address puts tenants minutes from Renown Regional Medical Center — northern Nevada's largest hospital and one of the region's most reliable rental-demand drivers — with Midtown Reno, the South Wells Avenue corridor, downtown, the Truckee Riverwalk, and the University of Nevada all within easy reach. The all-one-bedroom floor plan set matches Reno's expanding pool of single medical professionals, young workers, and students, making 190 Locust an easy fit for value-add operators, 1031 exchange buyers seeking stabilized-with-upside product, and out-of-state investors targeting the medical district.