Maximize Your Investment at 506 Modoc Ave, Reno, NV 89509
Welcome to 506 Modoc Ave, an exceptional tri-plex offering an outstanding investment opportunity in the heart of Reno. This property combines charm, modern amenities, and significant potential for growth, ideal for both investors and homeowners.
Property Highlights:
• Well-Proportioned Units: Each unit averages 760 sq ft of living space, providing ample room for comfort and functionality.
• Strong Rental Potential: The two larger units should command 2,300permontheach, while the smaller unit should be 1,200 per month. Currently, the rents far below market have not seen vacancies in more than 5 years...
• Extensive Upgrades: The seller has invested significantly in upgrades over the years, ensuring no detail has been overlooked. Key improvements include:
• New Sewer Line: Replaced in 2012, providing peace of mind and reducing future maintenance concerns.
• New Water Lines: Installed to enhance plumbing reliability and efficiency.
• Private Outdoor Spaces: Each unit features large, private fenced front and rear yards—ideal for entertaining, relaxing, or enjoying a garden retreat.
• Charming Interiors: Each unit showcases delightful interior finishes, providing a warm and inviting atmosphere for residents.
• Durable Stone Exterior: The property boasts a beautiful stone exterior, combining visual appeal with low maintenance needs.
• Ample Parking: Each of the larger units includes 2 dedicated parking spaces (one garage and one driveway), while the smaller unit has 1 off-street parking space; plus, there's plentiful street parking available on this desirable corner lot.
Prime Location:
• Convenience at Your Fingertips: Located just minutes from downtown Reno, offering easy access to a variety of dining, shopping, and entertainment options.
• Recreational Opportunities: Enjoy nearby parks and outdoor activities, perfect for residents who love an active lifestyle.
• Community Vibe: Experience the charm of a peaceful neighborhood, making it an attractive option for families and tenants alike.
Why Invest Now?
With rents well below market rates, this tri-plex presents a golden opportunity for significant income growth. The combination of beautiful units, prime location, and inviting outdoor spaces makes 506 Modoc Ave a sound addition to your real estate portfolio.
Act Fast!
This exceptional investment won't last long. Contact us today to and explore the remarkable potential awaiting you at 506 Modoc Ave Reno NV 89509
******PLEASE DO NOT DISTURB THE OCCUPANTS******
Active
$895,000
506 Modoc St, Reno, NV 89509
--beds
0baths
2,258sqft
Est.:
Triplex
Built in 1937
-- sqft lot
$872,800 Zestimate®
$396/sqft
$-- HOA
What's special
Ample parkingCharming interiorsDurable stone exteriorInviting outdoor spaces
- 18 days
- on Zillow |
- 743 |
- 40 |
Zillow last checked: 7 hours ago
Listing updated: July 18, 2025 at 08:30pm
Listed by:
Karen Greathouse B.1000788 775-677-4663,
Greathouse Real Estate
Source: NNRMLS,MLS#: 250053312

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Forced Air, Natural Gas
Cooling
- Wall/Window Unit(s), Varies by Unit
Appliances
- Included: Disposal, Electric Oven, Electric Range, Refrigerator, Washer
- Laundry: In Unit, Washer Hookup, Varies By Unit
Features
- Ceiling Fan(s)
- Flooring: Carpet, Tile, Varies, Vinyl, Wood
- Windows: Blinds, Drapes, Vinyl Frames, Wood Frames, Varies
- Has basement: No
- Number of fireplaces: 1
- Fireplace features: Wood Burning
Interior area
- Total structure area: 2,258
- Total interior livable area: 2,258 sqft
Video & virtual tour
Property
Parking
- Total spaces: 5
- Parking features: Assigned, Detached, Garage, Parking Pad, Varies by Unit
Features
- Levels: One
- Stories: 1
- Patio & porch: Patio
- Exterior features: Awning(s), Rain Gutters
- Pool features: None
- Spa features: None
- Fencing: Full
Lot
- Size: 7,840.8 Square Feet
- Features: Corner Lot, Level
Details
- Additional structures: None
- Parcel number: 01420312
- Zoning: MF
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Cedar, Stone, Stone Veneer
- Foundation: Crawl Space
- Roof: Composition,Pitched
Condition
- Year built: 1937
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected, Electricity Connected, Internet Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected, Cellular Coverage, Water Meter Installed
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Hamlin
Location
- Region: Reno
Financial & listing details
- Price per square foot: $396/sqft
- Tax assessed value: $118,198
- Annual tax amount: $1,596
- Date on market: 7/19/2025
- Listing terms: 1031 Exchange,Cash,Conventional,FHA,VA Loan
- Total actual rent: 49140
- Tenant pays: Internet, Water, Trash Collection, Telephone, Gas, Electricity
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