Downtown Reno Homes under $500,000

Welcome to Downtown Reno, a vibrant and dynamic neighborhood that perfectly blends the excitement of urban living with the charm of a close-knit community. Nestled in the heart of Washoe County, this bustling area is renowned for its rich history, eclectic culture, and a plethora of entertainment options. Whether you’re drawn to the bright lights of the casinos, the serene beauty of the Truckee River, or the diverse culinary scene, Downtown Reno has something for everyone.

One of the most appealing aspects of Downtown Reno is the affordability of its housing market. For those looking to invest in their first home or downsize without compromising on location, there are fantastic options available for under $500,000. These homes offer not only great value but also the opportunity to experience the vibrant lifestyle that Reno has to offer. From charming historic bungalows to modern condos with stunning city views, you’ll find a variety of choices that cater to different tastes and needs.

Living in Downtown Reno means you’re just steps away from an array of amenities, including parks, shops, and art galleries. Plus, with a strong sense of community and numerous events throughout the year, residents enjoy a lifestyle that is both engaging and enriching.

Discover your dream home in Downtown Reno today, and embrace the unique blend of excitement and comfort that this remarkable area offers. Whether you’re a first-time buyer or looking to invest, Downtown Reno is the perfect place to call home.

Newest Downtown Reno Homes under $500,000

$349,000

1 Beds ⋅ 2 Baths ⋅ 260012134 MLS

Excellent SW-facing Arlington Towers condo unit with amazing views of the Western Sierras, Truckee River below, and city lights. Utilize the large private balcony to witness those majestic Nevada sunsets in the evening. Spacious and open unit with vinyl plank flooring, ceramic tile, modern cabinets, and floor to ceiling windows in both living room and bedroom. Arlington Towers is a Premier Full-service building in the Heart of Downtown Reno, offering 24-hour secure access, parking garage, pool, fitness center, meeting room with kitchen, on-site postal boxes and laundry facilities, and a quiet reading room.

100 N Arlington Ave Unit 11G, Reno

$185,000

1 Beds ⋅ 1 Baths ⋅ 260012072 MLS

Urban living meets modern convenience in this stylish 1-bedroom downtown condo! Located minutes from the river and vibrant dining and entertainment, this home puts the best of the city right at your doorstep. Inside, you'll find an open and inviting layout featuring hardwood floors in the main living area, cozy carpet in the bedroom, and a sleek, contemporary kitchen.

450 N Arlington Ave Unit UNIT 806, Reno

$249,950

1 Beds ⋅ 1 Baths ⋅ 260011861 MLS

Location, luxury & low maintenance - downtown living with all the views and natural amenities! Featuring the Truckee River, Sierra Nevada Mountains, and Reno City views! Located next to Barbarra Benett & Wingfield Park with their badminton and basketball courts as well as a natural lap around the park, walking and running trails, basketball and recreation areas, restaurants, bars, nightlife, festivals, entertainment, and a organic store behind the building; Park Towers offers an exceptional combination of location, lifestyle, convenience, and investment potential in the heart of Reno. Whether you are an athlete, retiree, primary homeowner, University student, or an investor looking for a Short term rental friendly property (AIRBN, VRBO, Furnished Finders) and beyond this property is perfect for many situations. UNR is only 7 minutes away! The floor plan provides defined living spaces while abundant natural light creates a bright and inviting atmosphere throughout. Enjoy true low-maintenance, walkable Downtown Reno living with nearly everything you need close by. INVESTMENT OPPORTUNITY! One of the property's most distinctive features is its rare rental flexibility, with potential for short-term and mid-term rental strategies, including platforms such as Airbnb, VRBO, and Furnished Finder, subject to current HOA requirements. This flexibility may make Unit 602 especially attractive to buyers seeking a Downtown Reno investment property. The HOA makes ownership even easier by covering many major expenses, including water, sewer, trash, heating, cooling, and exterior maintenance—providing the convenience of a lock-and-leave lifestyle with fewer day-to-day maintenance responsibilities. Whether you're searching for a Downtown Reno condo, Truckee River residence, UNR-area property, second home, investment opportunity, or simply a low-maintenance home this is an option you don't want to skip!

280 Island Ave Unit APT 602, Reno

$379,900

2 Beds ⋅ 2 Baths ⋅ 260011809 MLS

Step into downtown Reno living at its finest in this beautifully updated condo at the Arlington Towers. From the moment you walk in, the updated kitchen sets the tone that this unit is full of great upgrades. There are sleek stainless appliances and granite countertops, complemented by warm bamboo flooring throughout that naturally makes this unit feel larger. Both bathrooms have also been nicely updated with tile flooring and newer style cabinetry. From top to bottom this unit is polished. The showstopper, though, is the wraparound balcony. Wrapped in walls of windows, it floods the unit with natural light. With its north-facing orientation, it delivers a front-row seat to the glittering downtown skyline after dark. From summer fireworks to balloon races, you can catch a glimpse of it all right from home. Another bonus is the living room wall to wall power curtains making closing up for the night a breeze. Location doesn't get more dialed-in than this. Tucked just past the new Arlington Bridge, you're steps from the Truckee River recreation paths for morning walks or sunset strolls and surrounded by some of downtown's best eateries. Everything you need is right outside your door. The Arlington Towers itself delivers full service, low-maintenance living. You have onsite 24/7 front desk security (including building cameras) for peace of mind, an on-site management office, a dedicated recreation space, a fitness center, and a pool. Select utilities are included in the HOA fee, and an assigned parking space is available for an additional monthly fee. Everything you need is at one address. *Note: Some photos are virtually staged*

100 N Arlington Ave Unit UNIT 12K, Reno

$399,999

2 Beds ⋅ 2 Baths ⋅ 260011674 MLS

Enjoy spectacular East facing views from this one of a kind 2 Bedroom Penthouse on the top floor of Arlington Towers. Sweeping city views, river views and park views make leaving your patio something you will never want to do. Enjoy firework shows throughout various times of the year or Balloons flying high from Ranch San Rafael during the Reno Hot Air Balloon Races. In addition, the Eastern views give you that beautiful morning sun and afternoon shade great for morning coffee or a nice evening on the patio. This unit itself offers ample storage, its own Washer/Dryer closet with a Washer and Dryer near the entry of the unit tucked off to the side of the kitchen behind foldable closet doors, a vanity to do makeup preparing for the day or evening and an elongated closet with even more storage. One great thing about this unit is that the 2nd bedroom has a sliding wall allowing you to make the living room larger or close off for a true 2nd bedroom. Whether you're looking for a primary residence, low-maintenance city retreat, or investment property, this Arlington Towers condo offers a combination of location, views, and convenience that's hard to duplicate

100 N Arlington Ave Unit UNIT 23L, Reno

$285,000

1 Beds ⋅ 2 Baths ⋅ 260011669 MLS

Enjoy elevated downtown living from this 1-bedroom condo in Arlington Towers, featuring expansive windows and impressive views of the Truckee River and surrounding mountains. The bright, open-concept living area offers plenty of natural light and flows seamlessly into the kitchen connecting the kitchen and living room to one and other finished off with LVP Flooring throughout. Step outside onto the private covered balcony and take in sweeping views overlooking the Truckee River and the Sierra Nevada mountains. The wall-to-wall windows make the scenery a focal point from inside the home as well. Located in the heart of downtown Reno, this condo puts the Truckee Riverwalk, Wingfield Park, restaurants, entertainment, and downtown amenities just outside your door. Whether you're looking for a primary residence, low-maintenance city retreat, or investment property, this Arlington Towers condo offers a combination of location, views, and convenience that's hard to duplicate

100 N Arlington Ave Unit #10G, Reno

$349,950

2 Beds ⋅ 2 Baths ⋅ 260011483 MLS

Luxury riverside living 14 stories high! Park Towers, where the energy of Downtown Reno meets the natural beauty of the Truckee River and surrounding mountains. Unit 1403 features large windows in every room throughout the home, filling the residence with abundant natural light while showcasing sweeping views of the mountains, city skyline, and river. Enjoy true low-maintenance living in one of Reno's most walkable locations. Just outside your door are the Truckee River, Barbara Bennett Park, Wingfield Park, scenic walking and running trails, basketball and recreation areas, restaurants, nightlife, festivals, entertainment, and an organic grocery co-op. Midtown Reno and the University of Nevada, Reno are also just minutes away. A standout feature of this property is its rare short-term and mid-term rental flexibility, offering potential opportunities for Airbnb, VRBO, Furnished Finder, and other furnished rental strategies, subject to applicable HOA rules and local regulations. Whether you're looking for a primary residence, second home, or investment property, this flexibility adds another dimension to the property's appeal. The HOA further simplifies ownership by covering many major expenses, including water, sewer, trash, heating, cooling, and exterior maintenance, allowing you to spend less time maintaining your home and more time enjoying the surrounding lifestyle. From professionals and UNR students to active residents, retirees, investors, or anyone seeking a stylish downtown retreat, Unit 1403 offers a unique combination of convenience, recreation, scenery, and accessibility. With parks, dining, shopping, groceries, recreation, entertainment, and the Truckee River all within easy reach, Park Towers delivers a downtown Reno lifestyle that is difficult to replicate.

280 Island Ave Unit APT 1403, Reno

$399,000

1 Beds ⋅ 1 Baths ⋅ 260011422 MLS

From the 18th floor of this corner unit embrace yourself with gorgeous eastern views of Nevada, Downtown Reno and catch some fireworks from over the Reno Aces ballpark from time to time. The oversized patio makes for a great place to sit back with a cup of coffee in the morning or an evening glass of wine. This well maintained 1 Bedroom corner unit has been freshly painted and upgraded with new carpet and padding. This unit comes with a single parking space along with a private storage unit on the 4th floor. The building offers security at the front desk, state of the art gym, bike storage and convenient walkability to all things downtown. Just recently a small market took residence near the entrance of the building selling small essentials needed on a day to day basis.

255 N Sierra St Unit #1811, Reno

$319,000

2 Beds ⋅ 3 Baths ⋅ 260011085 MLS

This two-level condo at Riverwalk Towers offers an open floorplan with main-floor living and dining area, full-size kitchen, guest bath and in-unit laundry. Upstairs, both bedrooms have their own bathrooms, along with west-facing views of the city, mountains and Nevada sunsets. The building offers controlled access, assigned underground parking, a fitness center, pool, spa and outdoor gathering areas. Located near the Truckee River, restaurants, entertainment and downtown events, Unit 412 is a standout choice for anyone looking for a low-maintenance home or investment property in the center of Reno.

200 W 2nd St Unit APT 412, Reno

$186,900

1 Beds ⋅ 1 Baths ⋅ 260011059 MLS

Enjoy elevated downtown living from this beautifully positioned 7th-floor, one-bedroom, one-bath condominium at The Belvedere. Offering spectacular western views of the Sierra Nevada mountains and Reno skyline, this turnkey residence is ideal for those seeking a low-maintenance lifestyle in the heart of downtown Reno. The inviting living space features large aluminum windows with blinds in both the bedroom and living area, ceramic tile, luxury vinyl flooring, and granite countertops. The kitchen offers a convenient breakfast bar, an electric oven/stove, a refrigerator, a built-in microwave, and ample cabinetry. Extra-large coat closet offering generous storage for overflow items or use as a convenient pantry. The Belvedere offers an array of amenities, including a fitness center, club room, rooftop pool and spa currently undergoing renovation (seller will pay off assessment at COE), and secure parking. The HOA provides an impressive list of included utilities and services, including water, electricity, heating, cooling, trash, building maintenance, and secure parking. This unit is being offered completely furnished, including kitchenware, accessories, and furnishings, making it truly move-in ready and ideal for a primary residence, second home, or convenient downtown retreat. Ideally located within walking distance of downtown dining, the Pioneer Center for the Performing Arts, Lawlor Events Center, Wingfield Park, Reno Aces Ballpark, the Truckee River, UNR, shopping, and everyday conveniences. Enjoy quick access to I-80, with Lake Tahoe, world-class skiing, hiking, and outdoor recreation just a short drive away. This is a wonderful opportunity to enjoy the energy and convenience of downtown Reno while taking in beautiful mountain and city views from your own 7th-floor retreat.

450 N Arlington Ave Unit 715, Reno

$349,000

2 Beds ⋅ 3 Baths ⋅ 260010992 MLS

Experience an exceptional downtown Reno lifestyle in this rare two-story corner residence at Riverwalk Tower. Tucked away at the end of the hallway on the 7th and 8th floors, this sophisticated home offers an enviable combination of privacy, space, and breathtaking views. With nearly 1,500 square feet of living space and nearly 270-degree panoramic views, this residence captures the Reno skyline, surrounding mountains, and filtered views of the Truckee River. Floor-to-ceiling windows fill the open-concept living areas with natural light, while two private balconies provide the perfect setting for morning coffee or sunsets. The distinctive floor plan features two spacious primary suites, each with a spa-inspired bathroom, oversized walk-in shower, and luxurious jetted bathtub. The main level also includes a convenient laundry room and half bath. The beautifully refreshed interior has been meticulously repainted and features high-end SPC luxury vinyl plank flooring throughout. The kitchen offers granite countertops, rich cherry cabinetry, stainless steel appliances, and an Energy Star-rated GE refrigerator. A breakfast bar opens to the main living area. Travertine flooring adds an elegant touch to the kitchen and bathrooms. Additional features include a washer, dryer, and refrigerator, one assigned parking space, and a private 4' x 6' storage unit. Located in the heart of downtown Reno, Riverwalk Tower places you within walking distance of renowned restaurants, Midtown, the Pioneer Performing Arts Center, Wingfield Park, the Reno Aces Ballpark, and the Truckee River. Enjoy quick access to UNR, while Lake Tahoe's world-class skiing and outdoor recreation are just a short drive away.

200 W 2nd St Unit APT 707, Reno

$399,000

1 Beds ⋅ 2 Baths ⋅ 260010730 MLS

Experience downtown Reno living at The Montage, a coveted downtown building. This beautifully updated 1,011 sq ft condo offers low maintenance living, great views, and a prime location steps from the Truckee River, dining, entertainment, and downtown events. A flexible additional space can serve as a potential second bedroom, guest space, or office, with a Murphy bed, privacy enclosure, full wall mirrors, and built in closet storage. Enjoy stainless steel appliances, stylish updates, and a beautiful private balcony for morning coffee or meals with views. Available furnished or unfurnished. Secure underground parking, EV charging, 24/7 staffed front desk, and a dog park are at the building. Updated common areas, spacious gym, and pool renovation nearing completion. HOA includes building insurance, water, sewer, trash, and on site security. Beautiful year round views and spectacular snowy views. Recent professional inspection 8/13/2026 found no major issues, only one minor cosmetic item. Virtually staged photos have been provided for visualization purposes only. Actual property may differ.

255 N Sierra St Unit 1715, Reno

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Data last updated on 06/28/2017.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Northern Nevada Regional MLS. Real estate listings held by brokerage firms other than owner of this page are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.

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