571 Saint Lawrence Ave

Description

Seize this rare opportunity to purchase a brick masterpiece in historic Newlands Terrace within walking distance of downtown Reno, along with an accessory unit and an oversized 2-car garage (wall between garages). This would be an outstanding property for investors or owner-occupiers wishing to offset their monthly payment with rental income. Home is under contract so open house is cancelled. Original 1,728 sf, 2 bed/2 bath home offers custom brickwork, an attractive front porch, fine craftsmanship, hardwood floors, and lots of storage space. The sq ft includes basement space. Seller mostly finished basement in 2016. 571 1/2 St. Lawrence is a 1988-built 852 sf, 2 bed/1 bath accessory unit atop a spacious garage. Tons of garage space. Separate access from alley. Original home's wiring has been updated and central air and gas furnaces have been added to both units. New roof in 2009 for original home; new roof in 2021 for the back unit. New furnace in back unit in 2022. New water heater in main home in 2022. Portions of sewer line have been replaced. Enjoy the spacious, pleasant, and private backyard with a large deck and a brick workspace with French doors, slate floors, and radiant heating that could be used for a wide variety of purposes (office, storage, workshop, etc.). The oversized garage has a pass-through door into the backyard making it more convenient for the occupant of the original home. Tenants are on month-to-month leases and pay all utilities except for sewer. Current leases are $2,200 per month for main home and and $1,300 for rear unit. Not at full market rent.