Top Rated
8/10
8/10Mount Rose K-8
Old Southwest Reno
K-8520 Students17:1
Mid-Century River-View Condos · Wingfield Park · Downtown Reno NV
Park Tower Condos For Sale
Nevada Real Estate Group — your Park Tower specialists. Search mid-century high-rise condos for sale in Downtown Reno's landmark 1961 tower on the Truckee River: $190K–$400K+, oversized river-view windows, Wingfield Park at your doorstep, secured entry, and Nevada's zero state income tax.
MEDIAN LIST PRICE (ZIP 89501)
$300K
RSAR / NNRMLS, ZIP 89501, June 2026
DAYS ON MARKET
45
RSAR / NNRMLS, June 2026
BUILDING TYPE
Mid-Century High-Rise
community-data-north.json
BUILT
1961 · 18 stories
280 Island Avenue
Data reviewed by
NREG Research Team
All statistics verified against primary sources (LVR, U.S. Census, FBI, BLS)
Last updated
June 2026
Reviewed monthly · Next review July 2026
KEY TAKEAWAYS
What Should You Know About Park Tower at a Glance?
Park Tower is Downtown Reno's landmark 1961 mid-century high-rise at 280 Island Avenue in ZIP 89501, with condos priced from $190K to $400K+ and a median list price near $300,000 per Reno/Sparks Association of REALTORS and NNRMLS data. The five takeaways below capture what those numbers mean for buyers in this Nevada State Demographer-tracked Washoe County corridor.
- Building type: 18-story mid-century modern high-rise condominium on the Truckee River overlooking Wingfield Park — 144+ single-level flats and the most attainable downtown Reno tower for character and views.
- Median list price (ZIP 89501): $300,000 (June 2026) — ranging from roughly $190K for lower-floor units to $400K+ for upper-floor residences with direct river and Wingfield Park views.
- Best for: Downtown professionals, University of Nevada Reno staff, first-time buyers, downsizers, lock-and-leave owners, remote workers, and investors who want a walkable riverfront condo at an attainable price point.
- HOA and dues: HOA dues run $400–$700/month covering building maintenance, secured entry, common areas, and many shared utilities; request the reserve study and any special-assessment disclosures before writing an offer on a 1961 building.
- Why people choose Park Tower: Wingfield Park and Truckee River views, walkable downtown location, mid-century landmark character, secured-entry living, and Nevada's zero state income tax at a $190K–$400K+ price band.
Last updated June 2026 · Sources: RSAR, U.S. Census, Nevada State Demographer
Where Can You Find Park Tower Condos for Sale?
Park Tower carries a limited number of active listings in ZIP 89501 — mid-century high-rise condos priced $190K to $400K+ per NNRMLS data. According to Reno/Sparks Association of REALTORS, Downtown Reno riverfront condo inventory is tight; well-priced, view-facing units change hands quickly. Listings below refresh daily from live NNRMLS data.
PRICE DISTRIBUTION
How Many Park Tower Condos Are Listed in Each Price Range?
The ZIP 89501 median list price for Park Tower condos sits near $300K per Reno/Sparks Association of REALTORS June 2026 NNRMLS data. Active inventory concentrates in the $190K–$350K range, with a smaller upper tier above $350K for larger upper-floor units with direct Wingfield Park views. Each card shows current listing counts for Park Tower and surrounding ZIP 89501.
Browse Park Tower & Downtown Reno Listings
How Can You Find a Park Tower Condo by Floor, View & Price?
Park Tower listings are filtered by ZIP 89501 — typically only a handful of active condos in the building at any time. Each link opens our live NNRMLS search pre-filtered to that slice, with counts updated daily from Reno/Sparks Association of REALTORS and NNRMLS data.
Which Downtown Reno Riverfront Towers Should You Explore?
Tap a building to see its dedicated page — current listings, price ranges, school district details, and what daily life looks like inside each Downtown Reno riverfront tower.
By Price Range
Updated daily · 8 active listings · MLS data
STAY AHEAD OF THE MARKET
How Can You Get New Park Tower Listings First?
Custom alerts by price, beds, baths, and floor/view features — no spam, unsubscribe anytime. With Park Tower condos turning over at a 45-day median pace per Reno/Sparks Association of REALTORS, buyers who see new listings within hours hold a real edge over buyers who check portals weekly — especially in the $190K–$280K entry band where competition is broadest.
- Custom criteria — neighborhood, price, beds, baths, features
- Instant alerts — emailed within minutes of a new MLS listing
- 1,200+ Henderson buyers used NREG alerts last year
Create your alert
EDUCATION
7/10
8/10
9/10
How Are the Schools Near Park Tower?
Park Tower falls within the Washoe County School District, and downtown attendance boundaries vary by block, so confirm the exact 89501 assignment by address. Reno High School and several Reno schools serve the area, with Davidson Academy and Coral Academy of Science as regional alternatives. Cards below rank standouts by level.
7/10Veterans Memorial ES
Central Reno
K-5540 Students18:1
8/10Jessie Beck ES
South Reno
K-5580 Students18:1
9/10Caughlin Ranch ES
Caughlin Ranch, Reno
K-5640 Students18:1
Campus photos are representative imagery — school names, ratings, and enrollment data refer to the actual schools listed.
Which Schools Near Park Tower Are the Best?
According to GreatSchools.org, top-rated schools near Park Tower include Reno High School (8/10) and Galena High School (9/10), with Mount Rose K-8 (8/10) a strong central option. Davidson Academy on the UNR campus (10/10) is the qualifying gifted alternative — all in the Washoe County School District, cross-checked with the Nevada Report Card.
| Rank | School | Type | Grades | GreatSchools | Neighborhood | Homes Near |
|---|---|---|---|---|---|---|
| 1 | Davidson Academy | Public Charter (gifted) | 6-12 | 10/10 | UNR Campus, Reno | $300,000+ |
| 2 | Galena HS | Public | 9-12 | 9/10 | South Reno | $550,000+ |
| 3 | Reno High School | Public | 9-12 | 8/10 | Midtown Reno | $400,000+ |
| 4 | Mount Rose K-8 | Public | K-8 | 8/10 | Old Southwest Reno | $500,000+ |
| 5 | Coral Academy of Science | Public Charter | K-12 | 8/10 | Reno | $300,000+ |
SAFETY & CRIME
Is Park Tower Safe?
Direct Answer
Park Tower is a secured-entry high-rise in Downtown Reno's urban core. According to Reno Police Department data, downtown carries higher reported activity than outlying suburbs, as any city center does, but the building's controlled lobby access, HOA oversight, and elevated residential floors give Park Tower residents meaningful security. Standard downtown awareness applies at street level, especially after dark.
- Building accessControlled lobby entry
- Common-area oversightHigh-rise condo structure
- Neighborhood characterDowntown Reno core
- Downtown trendOngoing revitalization
What Buyers Should Know
Downtown Reno, including Park Tower, sits in the city's urban core, which reports more activity than suburban neighborhoods per Reno Police Department annual data — a pattern common to any downtown. Park Tower's controlled lobby entry, elevated residential floors, and HOA-maintained common areas provide a layer of security beyond a typical street-level home, and the active riverfront setting keeps foot traffic and visibility high.
The building's secured-entry structure means access to residential floors is controlled, and the HOA oversees and monitors common areas, lobbies, and the parking structure. Buyers used to suburban quiet should expect normal downtown energy — events, nightlife, and the Riverwalk crowd — which most Park Tower residents consider a feature rather than a drawback, given the walkable lifestyle the location delivers.
Downtown Reno has seen meaningful revitalization investment, with the Riverwalk district, new dining, and public events improving the day-to-day environment. Standard urban precautions apply — securing the unit and vehicle, and ordinary street awareness after dark — but the building's controlled access and the active, visible riverfront setting make Park Tower a secure base for downtown living. Verify the building's security features and parking arrangements during your showing.
Sources: Reno Police Department (annual crime statistics), FBI Uniform Crime Reporting (latest available data). Last updated June 2026.
Living In
What's It Like Living in Park Tower, Downtown Reno NV?
The Answer
Park Tower delivers walkable downtown river living: mid-century high-rise flats from $190K to $400K+, Wingfield Park and Truckee River views, secured entry, and Nevada's zero state income tax. Schools are served by the Washoe County School District — confirm the exact downtown 89501 assignment by address at enrollment.
What is Park Tower known for?
Park Tower is known as Downtown Reno's mid-century high-rise landmark — an 18-story 1961 tower at 280 Island Avenue on the south bank of the Truckee River, directly overlooking Wingfield Park. It is prized for its oversized living-room view windows, single-level flats, private decks, and walkable riverfront location, offering genuine mid-century character and unobstructed river-and-park views at a price band well below newer downtown luxury towers.
Who should live in Park Tower?
Park Tower fits downtown professionals and University of Nevada, Reno staff who want a short walk to work, first-time buyers and downsizers seeking an attainable lock-and-leave condo, remote workers who value the Riverwalk and Wingfield Park at their door, and investors who can verify rental rules and warrantability. The $190K–$400K+ price band spans entry lower-floor units to upper-floor river-view residences.
What is daily life like in Park Tower?
Daily life in Park Tower centers on the downtown riverfront: coffee and the Truckee Riverwalk in the morning, free summer concerts on the Wingfield Park island stage, lunch at riverfront restaurants, and Reno Aces games a short walk away. Galleries, the kayak park, and downtown events are all on foot. The University of Nevada, Reno is eight minutes north, and Lake Tahoe is roughly 45 minutes for weekend trips.
Location
Where Is Park Tower
Park Tower sits at 280 Island Avenue on the corner of Arlington and Island Avenue in Downtown Reno, Nevada (ZIP 89501), on the south bank of the Truckee River overlooking Wingfield Park. Approximately 2 minutes from the downtown core, 8 minutes from the University of Nevada, Reno, 10 minutes from Reno-Tahoe International Airport, and 45 minutes from Lake Tahoe.
Downtown Reno Core
2
Min
University of Nevada, Reno
8
Min
Reno-Tahoe Airport
10
Min
Midtown Reno
5
Min
Lake Tahoe
45
Min
Park Tower
At a Glance$300,000
Median List Price (ZIP 89501)
~$300+
Price / Sq Ft (condo tier)
45
Days on Market
$190K–$400K+
Price Range (Park Tower)
- Building Type
- Mid-Century High-Rise Condominium
- Price Range
- $190K–$400K+
- Year Built
- 1961 · 18 stories · 144+ units
- Guard-Gated
- No (secured entry)
- HOA / Month
- $400–$700 (varies by unit)
- River / Park Views
- Wingfield Park & Truckee River
- ZIP Code
- 89501
- School District
- Washoe County School District
- To Downtown Core
- ~2 min (walkable)
- To University of Nevada, Reno
- ~8 min
- To Reno-Tahoe Airport
- ~10 min via US-395
- To Lake Tahoe
- ~45 min via I-80 / NV-431
LIVABILITY REPORT CARD
How Does Park Tower Score?
Park Tower scores among the top Downtown Reno addresses for walkability, riverfront access, and value. The six grades below cover safety, schools, cost of living, amenities, outdoor access, and commute — each sourced from ZIP 89501 data via the Reno Police Department, Washoe County School District, GreatSchools, and Reno/Sparks Association of REALTORS.
Grade B+: Safety
Secured-entry downtown high-rise; urban-core setting means standard city awareness applies, with building access control and HOA oversight per Reno Police data.
Grade B: Schools
Washoe County School District serves the downtown 89501 address — confirm specific elementary, middle, and high assignments by block, as downtown boundaries vary.
Grade A: Cost of Living
$190K–$400K+ for mid-century river-view flats — one of the most attainable high-rise condo tiers in Reno, helped by Nevada's zero income tax.
Grade A+: Walkability
Riverwalk, kayak park, galleries, riverfront dining, and the Reno Aces ballpark are all on foot — among the most walkable addresses in Northern Nevada.
Grade A: Outdoor Access
Wingfield Park, the Truckee River kayak park, and the Riverwalk at the doorstep, with Lake Tahoe and Sierra skiing roughly 45 minutes away.
Grade A: Commute
2 minutes to the downtown core, 8 to UNR, 10 to the airport — ideal for downtown professionals and remote workers who travel.
Source: Compiled from GreatSchools.org, FBI UCR, BLS, and Walk Score. Methodology: 6 weighted categories on a 4.0-equivalent scale. Last refreshed June 2026.
Quick Answer
Is Park Tower a good place to buy a first condo?
Park Tower is one of the most attainable high-rise condo entries in Downtown Reno. Mid-century river-view flats from $190K, walkable to the Riverwalk and Wingfield Park, with HOA-handled building maintenance make it a strong first-condo or downsizer option. Nevada's zero state income tax adds meaningful annual savings for relocating buyers. The critical verification: confirm the building is lender-warrantable and review the reserve study, since a 1961 high-rise carries elevator, plumbing, and facade reserve needs.
Source: Nevada State Demographer
DEMOGRAPHICS
Who Lives in Park Tower?
According to the U.S. Census Bureau, Downtown Reno draws a mix of young professionals, university staff, downsizers, and remote workers who prioritize walkability over square footage. Park Tower fits that profile — buyers who want a riverfront high-rise address and an attainable condo price more than a large suburban lot.
Values at Park Tower have firmed as Downtown Reno revitalization, the Riverwalk district, and limited high-rise supply drew buyers to walkable river-and-park living. The building skews toward owner-occupants and long-term renters, with high educational attainment consistent with the surrounding university-and-healthcare downtown economy — a profile typical of an established mid-century condo tower in an urban core.
89501
Downtown Reno, NV
$55,000+
vs Washoe County $72,000
$300K+
vs Washoe County $520K
~45%
vs Washoe County 57%
~40%
vs Washoe County 36%
~15%
vs Washoe County 27%
Riverwalk at doorstep
Among most walkable in Reno
1.7
vs Washoe County 2.5
Source: U.S. Census Bureau ACS estimates & Nevada State Demographer · Updated
GROWTH & APPRECIATION
How Fast Is the Park Tower Market Growing?
Park Tower and the broader Downtown Reno condo market have appreciated over the past decade, driven by downtown revitalization, the Riverwalk district, in-migration from California, and limited high-rise supply. The Nevada State Demographer projects continued Washoe County growth through 2030, supporting sustained demand for walkable downtown Reno condo addresses.
+4%Estimated YoY median price growth (ZIP 89501, 2026)
2 minTo Downtown Reno core (walkable)
8 minTo University of Nevada, Reno
ZIP 89501 (Downtown Reno) median condo list price trajectory, 2010–2026
Park Tower condos have appreciated with the broader Downtown Reno market — driven by an irreplaceable riverfront position overlooking Wingfield Park, mid-century landmark character that newer infill can't replicate, and sustained buyer demand for walkable downtown living. The building's $190K–$400K+ range remains among the most attainable high-rise entries in Reno, keeping demand broad while high-rise supply downtown stays structurally limited.
Sources: Nevada State Demographer and U.S. Census Bureau ACS. Median price figures from NNRMLS active listings; historical approximations. Last updated June 2026.
LIVABILITY SCORES
How Does Park Tower Score for Livability?
Park Tower posts strong scores across the six livability dimensions that matter most to downtown condo buyers — walkability, riverfront access, and value lead the composite. The rings below break out each category, benchmarked against Nevada State Demographer and Washoe County Assessor data.
- 86A-
Overall Livability
- 74B
Schools
- 80B+
Safety
- 92A
Cost of Living
- 97A+
Walkability
- 90A
Outdoor Access
MARKET TRENDS · LAST 12 MONTHS
How Is the Park Tower Real Estate Market Trending?
Median list price, days on market, and active inventory for ZIP 89501 — the Downtown Reno ZIP covering Park Tower and surrounding riverfront condos — from Northern Nevada Regional MLS and Reno/Sparks Association of REALTORS data. Current median for the Park Tower condo tier sits near $300,000, up approximately 4% year-over-year, with a median 45 days on market. Updated monthly.
Median List Price (ZIP 89501 Park Tower tier)
+4% YoY (May 2025 → May 2026)
vs May 2025
Source: Las Vegas REALTORS
Days on Market
38 → 45 days YoY — well-priced river-view units move fast
vs May 2025
Source: Las Vegas REALTORS
Active Listings (Park Tower / ZIP 89501)
~8 at any time — supply constrained by limited downtown high-rise stock
vs May 2025
Source: Las Vegas REALTORS
45
MEDIAN DAYS ON MARKET
$300K
MEDIAN LIST PRICE
$190K–$400K+
PARK TOWER PRICE RANGE
< 1 hr
OUR RESPONSE TIME
INVENTORY IS TIGHT
Get matched with a
Park Tower specialist.
Market Competitiveness
How Competitive Is the Park Tower Market Right Now?
Park Tower is a low-inventory downtown condo market with steady demand. Typically only a handful of active listings appear in the building at any time within ZIP 89501, and homes take a median 45 days on market per NNRMLS data. Well-priced lower-floor units in the $190K–$280K range move faster, as the buyer pool at that attainable tier is broadest.
55Steady-Demand Downtown
- 45 daysMedian days on market (Park Tower / ZIP 89501)
- $190K–$400K+Park Tower price range
- ~$300+Median price per sq ft (condo tier)
- Mid-Century High-RiseBuilding character
Is Park Tower Right for You?
Who Should Buy a Condo in Park Tower?
Park Tower spans $190K lower-floor entry units to $400K+ upper-floor river-view flats — the most attainable mid-century high-rise address in Downtown Reno. Six buyer profiles below match lifestyles to specific Park Tower options, followed by the honest pros and trade-offs our team walks every client through before they commit.
Which Park Tower Profile Fits Your Buyer Type?
Downtown Professionals
- Walk to work in the downtown core
- Riverwalk and dining at the doorstep
- Lock-and-leave HOA-maintained living
- Nevada zero income tax on earnings
University of Nevada Reno Staff
- Eight minutes north to campus
- Attainable entry from $190K
- Walkable downtown lifestyle off-hours
- Steady resale and rental demand
First-Time Buyers
- Among Reno's lowest high-rise price floors
- Conventional financing on warrantable units
- HOA covers building maintenance
- Walkable, car-light downtown living
Downsizers
- No yard or exterior upkeep
- Single-level flats with river views
- Walk to dining, galleries, and parks
- Nevada zero income tax on retirement income
Remote Workers
- Wingfield Park views from the home office
- 10 minutes to Reno-Tahoe Airport
- Zero Nevada income tax on remote earnings
- Lake Tahoe 45 minutes for weekends
Condo Investors
- Steady downtown long-term rental demand
- Verify HOA CC&Rs and City of Reno rules
- Attainable entry vs newer luxury towers
- Nevada tax advantage improves the carry
Best Fit For
- Downtown professionals — Walk to work, the Riverwalk, and downtown dining; lock-and-leave HOA living; and Nevada zero state income tax — an attainable urban address from $190K.
- University of Nevada Reno staff — Eight minutes north to campus, walkable downtown off-hours, and a low price floor that beats most newer downtown towers for entry cost.
- First-time buyers — Among the lowest high-rise price floors in Reno, conventional financing on a warrantable unit, and HOA-handled building maintenance for a low-effort first home.
- Downsizers — Single-level river-view flats, no yard or exterior upkeep, and a walkable downtown lifestyle — plus zero Nevada income tax on retirement distributions.
- Remote workers — Wingfield Park views from the desk, 10 minutes to the airport for travel, Lake Tahoe 45 minutes away, and zero Nevada income tax on remote earnings.
- Condo investors — Steady downtown rental demand from university and healthcare workers — conditional on verifying HOA CC&Rs, any rental caps, and City of Reno rules before buying.
Ready to explore condos in Park Tower? Our team knows the building's floor tiers, HOA reserve picture, warrantability, and the surrounding downtown Reno riverfront market.
Start Your Park Tower SearchPros
- Wingfield Park and Truckee River views — the building's defining amenity
- Walkable downtown riverfront — Riverwalk, kayak park, dining, and Reno Aces on foot
- Most attainable downtown high-rise entry at $190K–$400K+ versus newer luxury towers
- Mid-century landmark character — oversized view windows and single-level flats
- Zero Nevada state income tax — meaningful annual savings for relocating buyers
- HOA-handled building maintenance and secured entry — true lock-and-leave
- 3% annual property-tax cap under NRS 361.471
Honest Considerations
- A 1961 building carries reserve needs — elevator, plumbing risers, roof, and facade; review the reserve study carefully
- HOA dues of $400–$700/month add to monthly carrying costs (though many shared utilities are included)
- Short-term and nightly rentals may be restricted by the HOA and City of Reno — verify before buying as investment
- Urban downtown setting means standard city awareness, especially at street level after dark
- Limited inventory — only a handful of units list at once, making the search competitive
Building Comparison
How Does Park Tower Compare to Arlington Towers, Riverwalk Towers & Palladio?
A like-for-like comparison of the four most-searched Downtown Reno riverfront condo buildings — median price, days on market, HOA, and best-for fit — using active-listing data refreshed monthly via Reno/Sparks Association of REALTORS and NNRMLS. Prices span roughly $180K for Arlington Towers entry units to about $398K and up for Palladio residences, with Park Tower in the attainable value-and-character middle.
| Submarket | Median Price | $ / Sq Ft | Days on Market | Active Listings | Best For |
|---|---|---|---|---|---|
| Park Tower | $300,000 | ~$300+ | 45 | 8 | Mid-Century · River Views · Value |
| Arlington Towers | $240,000 | ~$260+ | 40 | 12 | Established · Riverfront · Entry Value |
| Riverwalk Towers | $280,000 | ~$290+ | 42 | 10 | Converted · Riverfront · Walkable |
| Palladio | $550,000 | ~$420+ | 55 | 6 | Luxury · Amenities · Newer |
| Downtown Reno (all) | $320,000 | ~$310+ | 40 | 40 | Full Downtown Inventory |
Source: Reno/Sparks Association of REALTORS and NNRMLS data, June 2026. Median prices based on active listings; days on market from closed sales.
Building Deep Dive
What's Inside Each Downtown Reno Riverfront Tower?
Submarket 1
Park Tower
Downtown Reno's 1961 mid-century high-rise on the Truckee River overlooking Wingfield Park — the most attainable full-character riverfront tower, with oversized view windows and Nevada's zero state income tax.
Browse Park Tower homes →$300KMedian Price
45Days on Market
8Active Listings
~$300+Price / Sq Ft
Submarket 2
Arlington Towers
A larger 22-story established riverfront complex next door on Island Avenue — among the lowest downtown high-rise price floors, popular with first-time buyers and investors.
Browse Arlington Towers homes →$240KMedian Price
40Days on Market
12Active Listings
~$260+Price / Sq Ft
Submarket 3
Riverwalk Towers
The former Comstock Hotel converted to riverfront condos steps from Park Tower — walkable downtown living with a converted-building character.
Browse Riverwalk Towers homes →$280KMedian Price
42Days on Market
10Active Listings
~$290+Price / Sq Ft
Submarket 4
Palladio
A newer luxury riverfront tower with an infinity pool, spa, and resort-style amenities — the upper tier of the downtown Reno condo market.
Browse Palladio homes →$550KMedian Price
55Days on Market
6Active Listings
~$420+Price / Sq Ft
Submarket 5
Downtown Reno (all)
The full Downtown Reno condo market — riverfront towers, lofts, and converted buildings across the urban core, from entry value to luxury.
Browse Downtown Reno (all) homes →$320KMedian Price
40Days on Market
40Active Listings
~$310+Price / Sq Ft
Submarket 6
Park Tower — The Downtown Reno Value Landmark
The most attainable way into a full-character Downtown Reno high-rise — the 1961 mid-century landmark on the Truckee River overlooking Wingfield Park, with oversized view windows and single-level flats from $190K to $400K+. Upper floors capture direct river and park views. The downtown tower that pairs genuine mid-century character and direct Wingfield Park frontage with one of the lowest high-rise price floors in Reno.
Browse Park Tower — The Downtown Reno Value Landmark homes →From $190KAttainable Entry
StepsTo Wingfield Park
1961Mid-Century Landmark
10 minTo Reno Airport
Where Is Park Tower on the Map?
Park Tower sits at 280 Island Avenue in Downtown Reno, Nevada (ZIP 89501), on the south bank of the Truckee River overlooking Wingfield Park — approximately 2 minutes from the downtown core, 5 minutes from Midtown, 8 minutes from the University of Nevada, Reno, 10 minutes from Reno-Tahoe International Airport, and 45 minutes from Lake Tahoe.
#1
TEAM IN NEVADA
6,225+
HOMES SOLD SINCE 2009
9,061+
★★★★★ REVIEWS
< 1 hr
AVERAGE RESPONSE
STILL DECIDING?
Not sure which Downtown Reno
tower fits?
BY ZIP CODE
What Does the Market Look Like in ZIP 89501?
ZIP 89501 covers Downtown Reno and the Truckee River corridor, including Park Tower and the riverfront condo towers. The table below puts this ZIP in context against neighboring Reno ZIPs — median price, price per square foot, days on market, active inventory, and year-over-year price growth — using Northern Nevada Regional MLS data.
| ZIP | Primary Area | Median Price | $ / Sq Ft | Days on Market | Active | YoY |
|---|---|---|---|---|---|---|
| 89501 | Downtown Reno · Truckee River · Park Tower | $320K | ~$310 | 42 | 120 | +4.0% |
| 89509 | Old Southwest Reno · Midtown | $520K | ~$330 | 30 | 180 | +3.0% |
| 89503 | Old Northwest Reno | $480K | ~$320 | 32 | 160 | +2.6% |
| 89521 | South Reno · Damonte Ranch | $680K | ~$320 | 32 | 220 | +2.4% |
| 89523 | Somersett · Northwest Reno | $620K | ~$315 | 32 | 210 | +1.9% |
Source: Reno/Sparks Association of REALTORS and NNRMLS. Medians from active listings; YoY from closed sales, 2026 vs 2025 year-to-date. Per-sqft figures approximate. ZIP boundaries per Washoe County GIS.
BY THE NUMBERS
Which Statistics Define Park Tower Real Estate?
Eight verifiable numbers — sourced to the BLS Reno-Sparks MSA report, U.S. Census Bureau, Reno/Sparks Association of REALTORS, and Washoe County Assessor — pin down this building's fundamentals. Park Tower median list price is $300K, days on market run 45, and HOA dues run $400–$700 per month.
$300K
Median list price for Park Tower condos in ZIP 89501 in June 2026.
Reno/Sparks Association of REALTORS
+4%
Year-over-year price growth in Downtown Reno ZIP 89501, May 2025 to May 2026.
Northern Nevada Regional MLS
45
Median days from list to accepted offer in Park Tower / ZIP 89501.
RSAR / NNRMLS, June 2026
$190K–$400K+
Full price range for Park Tower condo units by floor and view.
Northern Nevada Regional MLS
1961
Year Park Tower was built — an 18-story mid-century modern high-rise at 280 Island Avenue.
Washoe County Assessor
144+
Residences in Park Tower, single-level flats across 18 stories on the Truckee River.
community-data-north.json
0%
Nevada state income tax rate — keeping Park Tower ownership costs below comparable California downtown condos.
Nevada Department of Taxation
10 min
Drive time from Park Tower to Reno-Tahoe International Airport via US-395.
City of Reno
WHY PARK TOWER
Why Does Park Tower Stand Out Among Downtown Reno Condos?
From its riverfront position overlooking Wingfield Park to its 1961 mid-century character to a $190K–$400K+ price range, Park Tower delivers an attainable, full-character downtown Reno address. Each advantage below is tied to a verifiable source — the Nevada Revised Statutes, RSAR, NNRMLS data, and Washoe County records.
- City of Reno Parks
Wingfield Park and Truckee River frontage
Park Tower sits directly on the south bank of the river overlooking Wingfield Park — no other downtown condo puts park-and-river views this close to the lobby.
- Washoe County Assessor
Mid-century landmark character
The 1961 18-story tower offers oversized view windows and single-level flats that newer downtown infill rarely matches in light, scale, or character.
- Northern Nevada Regional MLS
Most attainable downtown high-rise entry
At $190K–$400K+, Park Tower is among the lowest price floors for owning a Downtown Reno high-rise — well below newer luxury riverfront towers.
- Nevada Department of Taxation
Nevada zero state income tax
No personal income tax — meaningful annual savings versus California for relocating buyers and investors holding the unit as a rental.
- NRS 361.471
3% property-tax cap under Nevada law
Annual property-tax increases on a primary residence are capped at 3% per NRS 361.471 — predictable carrying costs as values rise.
WHY BUY IN PARK TOWER
What Are the Top Reasons to Buy a Condo in Park Tower?
Park Tower's case rests on location, character, value, and tax savings: Wingfield Park and river views, a 1961 mid-century landmark, walkable downtown living, and a median list price near $300K per Reno/Sparks Association of REALTORS. The reasons below each carry a named source.
Wingfield Park and Truckee River views
Oversized living-room windows and private decks frame unobstructed river, park, and Sierra Nevada views — the building's defining amenity.
City of Reno Parks
Walkable downtown riverfront location
The Riverwalk, kayak park, galleries, riverfront dining, and the Reno Aces ballpark are all on foot from the lobby.
City of Reno
Most attainable downtown high-rise entry
$190K–$400K+ for a mid-century river-view flat — a lower price floor than any newer downtown luxury tower.
Northern Nevada Regional MLS
Zero Nevada state income tax
No personal income tax — meaningful annual savings for relocating buyers and downtown rental investors.
Nevada Department of Taxation
3% property-tax cap
Annual increases on a primary residence are capped by Nevada statute — predictable carrying costs as values appreciate.
NRS 361.471
Limited downtown high-rise supply supports value
Few high-rise condo buildings exist in Downtown Reno, so inventory can't meaningfully expand — structural scarcity supports long-run pricing.
Northern Nevada Regional MLS
Walk to University of Nevada, Reno
UNR is about eight minutes north — a short commute or walk for students, faculty, and staff, supporting steady tenant demand.
University of Nevada, Reno
HOA-handled building maintenance
HOA dues cover building maintenance, secured entry, and many shared utilities — a true lock-and-leave ownership profile.
Park Tower HOA
Steady downtown rental demand
University staff, healthcare workers, and remote professionals drive long-term rental demand — verify HOA CC&Rs and City of Reno rules before buying as investment.
Reno/Sparks Association of REALTORS
10 minutes to Reno-Tahoe Airport
Reno-Tahoe International Airport is roughly 10 minutes via US-395 — among the most airport-accessible addresses in the region.
City of Reno
Building & Floor-Tier Guide
What Are the Key Floor Tiers in Park Tower?
Park Tower is a single 18-story building, so value tracks floor and view tier rather than separate complexes. Lower floors offer the most attainable entry, mid floors balance price and outlook, and upper floors command premiums for direct Wingfield Park and Truckee River views. All units share one HOA, dues schedule, and reserve fund.
Value Entry · Studios / 1BR
Lower-Floor Units
Most attainable downtown high-rise price point
Balanced · 1BR / 2BR
Mid-Floor Units
Improved outlook; strong price-to-view balance
Park & River Views
Upper-Floor River-View Units
Direct Wingfield Park and Truckee River views
22-Story · Riverfront
Arlington Towers
Larger established complex near the river
Luxury · Infinity Pool
Palladio
Newer luxury alternative with resort amenities
Outdoor Recreation
What Outdoor Amenities Does Park Tower Offer?
Park Tower residents live at the heart of Downtown Reno's riverfront — Wingfield Park at the doorstep, the Truckee River kayak park steps away, and the Riverwalk linking galleries, restaurants, and events. The City of Reno Parks & Recreation manages the riverfront park system that makes this one of the most recreation-rich urban addresses in Northern Nevada.
STEPS AWAY
Wingfield Park
Island park + amphitheaterConcerts · Festivals · PicnicsFree
The island park directly across from Park Tower, with an outdoor amphitheater that hosts free summer concerts and the Artown festival. The defining outdoor amenity of a Park Tower address — many units look straight onto it.
1 MIN
Truckee River Kayak Park
In-river whitewater courseKayaking · Tubing · PaddlingFree
An engineered whitewater course right in the Truckee River downtown — a rare in-city paddling amenity steps from the building, popular all summer.
STEPS AWAY
Truckee Riverwalk
Riverfront promenadeWalking · Dining · GalleriesFree
The walkable riverfront promenade connecting Park Tower to downtown galleries, restaurants, the monthly Wine Walk, and the Riverwalk district — the social spine of downtown Reno.
5 MIN
Idlewild Park
49 acresGardens · Tennis · Trails · SkateparkFree
Reno's signature riverfront park just upstream — rose gardens, tennis courts, river trails, and the Reno skatepark, a short drive or river-trail walk from Park Tower.
5 MIN
Reno Aces Ballpark
Greater Nevada FieldBaseball · EventsTicketed
Home of the Reno Aces minor-league baseball team, a short walk east along the river — summer games and downtown events within easy reach of Park Tower residents.
2 MIN
Downtown Reno Arts District
Riverfront galleriesGalleries · Theater · MuseumsVaries
The Nevada Museum of Art, riverfront galleries, and the Pioneer Center for the Performing Arts cluster within a short walk — a dense cultural core unusual for a city of Reno's size.
45 MIN
Lake Tahoe
191 sq miBoating · Beaches · SkiingVaries
North America's largest alpine lake is roughly 45 minutes via I-80 and NV-431 — Park Tower residents can be on the water or the slopes within an hour of leaving downtown.
45–60 MIN
Sierra Nevada Skiing
Multiple resortsSkiing · SnowboardingTicketed
Mt. Rose, Diamond Peak, and the broader Lake Tahoe ski resorts are within an hour — downtown river living in summer, alpine skiing in winter, from one Park Tower address.
The Park Tower Lifestyle
What Does a Weekend in Park Tower Look Like?
A Saturday in Park Tower: coffee on the Riverwalk, a free summer concert at Wingfield Park across the street per the City of Reno Parks, an afternoon Reno Aces game, dinner at a riverfront restaurant, and Lake Tahoe 45 minutes away for Sunday. Walkable river living and zero Nevada income tax.
300+Days of Sun
2 minTo Downtown Core
StepsTo Wingfield Park
45 minTo Lake Tahoe
THIS WEEKEND'S OPEN HOUSES
Can You Tour Park Tower Condos This Weekend?
Park Tower condos show by appointment — weekend open houses are uncommon in the downtown Reno high-rise market. Contact Nevada Real Estate Group at (775) 204-6150 to schedule a private showing or request a video walkthrough. Set up instant alerts to get notified when a unit in your price range and floor tier becomes available.
Quick Answer
What does an HOA cost in Park Tower?
HOA dues in Park Tower typically run $400–$700 per month depending on unit size, generally covering building maintenance, secured entry, common areas, exterior upkeep, and many shared utilities such as water, sewer, and trash. In a 1961 high-rise, reserve-funded capital items — elevator modernization, plumbing risers, roof, and facade — are part of the long-term budget, so always request the full HOA document package, reserve fund study, and any pending special-assessment disclosures during escrow, and confirm the building is treated as warrantable by lenders.
Moving to Park Tower
Should I Move to Park Tower?
California buyers choose Park Tower for walkable downtown river living and Nevada's zero state income tax. California's top rate is 13.3% per the Franchise Tax Board; Nevada's is zero — on a $250,000 income that gap saves roughly $25,000 annually, more than covering a year of Park Tower HOA dues several times over.
Why California Buyers Are Choosing Park Tower
The tax math is the starting point: California's top marginal state income tax is 13.3% — Nevada's is zero. A household earning $250,000 saves roughly $20,000 per year in state income taxes alone. Park Tower adds a second layer: an attainable mid-century high-rise condo from $190K on the Truckee River, walkable to downtown dining and the Riverwalk, with Wingfield Park views that newer, far pricier towers can rarely match.
At a $300,000 budget, buyers in coastal California typically compete for a small dated condo far from the urban core. That same budget in Park Tower secures a mid-century river-view flat steps from Wingfield Park, the Riverwalk, and downtown dining — on a Nevada tax address with zero state income tax and a 3% annual property-tax growth cap.
According to Reno/Sparks Association of REALTORS, the Park Tower median list price runs near $300,000 in ZIP 89501 — on a tax-adjusted basis, that sits well below comparable California downtown-condo pricing once income-tax savings are factored in. Per the Washoe County Assessor, the effective property-tax rate runs roughly 0.5–0.7% of taxable value, capped at 3% annual growth on a primary residence. The U.S. Bureau of Labor Statistics shows the Reno-Sparks MSA running near historic-low unemployment, anchored by healthcare, technology, and logistics employers minutes from downtown.
Park Tower residents are minutes from Reno's downtown core, eight minutes from the University of Nevada, Reno, and ten minutes from Reno-Tahoe International Airport. Remote workers and downtown professionals who want walkable river living with airport access find Park Tower an optimal Nevada base. The broader Washoe County economy is anchored by healthcare (Renown Health), the university, technology (Switch, Tesla Gigafactory), and a growing remote-worker base — much of it within a short drive of downtown.
Cost of Living Snapshot — Park Tower (Downtown Reno, NV) vs. Downtown Sacramento, CA
Day-to-day costs run lower on the Nevada side for relocating buyers. Nevada has no state income tax, no state capital-gains tax, and no personal property tax on vehicles beyond registration. A Park Tower condo carries an effective property-tax rate roughly half of comparable California downtown addresses, and downtown Reno condo pricing starts well below comparable California urban high-rises.
| Metric | Park Tower, NV | Downtown Sacramento, CA |
|---|---|---|
| State Income Tax | None | Up to 13.3% |
| Median List Price (mid-century high-rise condo) | ~$300K | ~$450K–$700K |
| Effective Property Tax Rate | ~0.5%–0.7% | ~1.0%–1.2% |
| HOA / Month | $400–$700 | Varies · $500–$900+ |
| Walkable Riverfront | Yes (Truckee River / Wingfield Park) | Yes (American River, varies) |
| Secured-Entry High-Rise | Yes (1961 landmark) | Varies by building |
| Reno Airport Access | ~10 min | Sacramento Intl ~15 min |
Figures are approximate, for illustration. Contact our team for current market data.
Park Tower Rental Market — Rent vs. Own
Long-term rentals at Park Tower attract steady demand from University of Nevada, Reno staff, downtown healthcare workers, and remote professionals who want walkable river-and-park living — though the building HOA CC&Rs and City of Reno ordinance govern short-term and nightly rentals, which may be restricted; verify current rules and any rental caps for a specific unit before purchasing as an investment. Long-term rentals for downtown Reno condos in the Park Tower tier typically run $1,400–$2,200/month per Reno/Sparks Association of REALTORS regional data. For buyers planning a 5+ year hold, purchasing builds equity while Nevada's zero state income tax applies to any appreciation at sale.
Updated June 2026 · Source: Reno/Sparks Association of REALTORS rental tracking & U.S. Census Bureau ACS
Planning a move to Park Tower? Our team specializes in Downtown Reno high-rise condo relocation — virtual tours, HOA document and reserve-study review, warrantability checks, and closing coordination for buyers transitioning from California or relocating to Northern Nevada.
Start Your Park Tower SearchRELOCATION TIMELINE
How to Relocate to Park Tower in 8 Steps
From first research to keys-in-hand, here's the 8-12 week timeline most Park Tower condo buyers follow. Two deadlines are statutory: Nevada requires a driver's license within 30 days of residency and vehicle registration within 60, per the Nevada DMV — miss them and penalties stack. Confirm building warrantability early, since older high-rises can carry lender overlays.
Research the floor tiers
Compare Park Tower floor and view tiers — lower floors offer the most attainable entry, upper floors command premiums for direct Wingfield Park and river views. Know which tier fits your budget and outlook priorities before your first showing.
Get pre-approved and confirm warrantability
Most Park Tower purchases fit conforming loan limits, but a 1961 high-rise can carry lender overlays — confirm the building is warrantable and ask about FHA approval and any owner-occupancy ratios before you write an offer.
Hire a Downtown Reno condo specialist
HOA reserve-study review, special-assessment history, and warrantability analysis all move real money in an older high-rise. Work with an agent who has closed downtown Reno condo transactions.
Tour in person or virtually
Tour units on multiple floors if possible — evaluate the view from each tier, light, deck orientation, noise from downtown events, and the parking arrangement. Our team offers video walkthroughs for out-of-state buyers.
Write and negotiate the offer
Pair list-price strategy with a request for seller-paid closing costs or HOA credits; downtown Reno condo sellers have some flexibility at a 45-day median DOM, particularly for units needing updates.
HOA due diligence
Request the full HOA document package: CC&Rs, bylaws, meeting minutes, reserve fund study, operating budget, and any pending special assessments. In a 1961 building, scrutinize elevator, plumbing, roof, and facade reserve line items.
Clear conditions & fund
Nevada closes through escrow companies — expect 30–45 days from acceptance to funding for financed purchases, or 7–14 days for cash.
Close, move, and register
Transfer utilities and internet, get building access credentials and parking from the HOA, then handle the Nevada DMV — license within 30 days, registration within 60.
ECONOMY & JOBS
What Drives the Economy Near Park Tower?
Park Tower residents are minutes from the Reno-Sparks MSA job base and eight minutes from the University of Nevada, Reno. According to the U.S. Bureau of Labor Statistics, MSA unemployment runs near historic lows — driven by Renown Health, UNR, Tesla, and Switch, with downtown government, legal, and hospitality jobs adding to the local base.
$55,000+Median household income (Downtown Reno area)U.S. Census ACS estimate
UNRMajor employer minutes from Park TowerUniversity + downtown core
5 minTo downtown government & legal coreWalkable / short drive
10 minTo Reno-Tahoe International AirportVia US-395
Top Employers Accessible from Park Tower
- University of Nevada, RenoR1 research university about eight minutes north — the downtown area's largest nearby employer and a steady source of tenant demand
- Renown HealthNorthern Nevada's largest healthcare system, minutes from downtown Reno
- Washoe County & City of Reno GovernmentCounty and city offices, courts, and legal services cluster in the downtown core, walkable from Park Tower
- Tesla Gigafactory NevadaBattery & EV manufacturing at Tahoe-Reno Industrial Center (~30 min via I-80)
- SwitchHyperscale data centers, Tahoe-Reno Industrial Center (~30 min via I-80)
- Downtown Hospitality & TourismCasinos, hotels, and the Riverwalk district provide year-round downtown employment within walking distance
Sources: U.S. Bureau of Labor Statistics, Nevada State Demographer. Last updated June 2026.
BUILDING COMPARISON
How Does Park Tower Compare to Arlington Towers, Riverwalk Towers & Palladio?
Choosing between Downtown Reno riverfront towers? This table compares Park Tower ($300K, 1961 mid-century with direct park views), Arlington Towers ($240K, established entry value), Riverwalk Towers ($280K, converted hotel), and Palladio ($550K, newer luxury with resort amenities) across price, days on market, HOA, and best-for fit. Metrics from RSAR, the U.S. Census, and BLS Reno-Sparks MSA.
| Metric | Park Tower | Arlington Towers | Riverwalk Towers | Palladio |
|---|---|---|---|---|
| Median List Price | $300K | $240K | $280K | $550K |
| Price / Sq Ft | ~$300 | ~$260 | ~$290 | ~$420 |
| Days on Market | 45 | 40 | 42 | 55 |
| HOA / Month | $400–$700 | $350–$600 | $400–$650 | $500–$900 |
| Year / Style | 1961 Mid-Century | 1960s High-Rise | Converted Hotel | Newer Luxury |
| Property Type | High-Rise Condo | High-Rise Condo | Condo (converted) | Luxury Condo |
| Guard-Gated | No (secured entry) | No (secured entry) | No (secured entry) | No (secured entry) |
| River / Park Views | Wingfield Park — direct | Riverfront | Riverfront | Riverfront |
| Best For | Value · Character · Views | Entry Value · Investors | Walkable · Converted | Luxury · Amenities |
Sources: Reno/Sparks Association of REALTORS, U.S. Census ACS. Last updated June 2026.
Cost of Ownership
What Will Park Tower Cost You Each Month?
A median $300,000 Park Tower condo purchase runs about $2,400–$2,800 monthly with 20% down at 7% per Freddie Mac's rate survey — principal, interest, Washoe County taxes, insurance, and HOA dues included. The three tabs below let you model your own payment, compare renting, and budget HOA tiers by unit size.
Payment Estimator
Estimate Your Park Tower Payment
$2,099
Estimated Monthly Payment
- Principal & Interest$1,597
- Property Tax$152
- Insurance$150
- HOA$200
- PMI$0
Estimated calculations only — consult a lender for exact figures. Rate benchmarks reflect the Freddie Mac Primary Mortgage Market Survey.
BUY VS RENT
Should you buy or rent in Park Tower right now?
At current rates the monthly gap narrows once equity and tax effects are counted — and Nevada's zero state income tax improves the ownership math for relocating buyers compared to renting downtown or staying in California.
OWN (20% DOWN, 7%)
$2,417 / mo
- Principal & Interest (20% down)
- $1,597
- Property Tax (~0.6%)
- $150
- Homeowners Insurance
- $70
- HOA (avg. unit)
- $550
- Reserve / Misc
- $50
5-year net cost:~$95,000
Equity built:~$42,000
RENT (MEDIAN LONG-TERM)
$1,800 / mo
- Median Long-Term Rental (Downtown Reno condo)
- $1,800
- Renters Insurance
- $20
- Equity Built / Month
- $0
- Tax Benefit
- $0
- Annual Increase Risk
- ~4%
5-year net cost:~$118,000
Equity built:$0
Avg annual rent increase: 4.0%
The 5-year breakeven
Owning a median Park Tower condo for five years produces approximately $42,000 in equity while the long-term renter builds none — and Nevada's zero state income tax (vs California's up to 13.3%) can add meaningful savings for relocating buyers over the same period. Appreciation above the modeled 3% widens the gap further.
Model assumptions: 7.0% 30-yr fixed (Freddie Mac PMMS), 3% annual appreciation, 4% annual rent growth, 0.6% effective property tax, $550/mo HOA.
HOA Fees by Community
HOA Fees by Park Tower Unit Tier
Park Tower HOA fees vary by unit size — larger upper-floor residences and those with more square footage tend toward the higher end, while compact lower-floor units sit at the lower end. Always request the full HOA financials and reserve study before committing, given the building's 1961 vintage.
Compact / Lower-Floor Units
$400–$550 / mo
Studios and one-bedroom flats
$400–$550
Includes:
Building maintenance, secured entry, common areas, exterior upkeep, water, sewer, trash, reserve contribution
Larger / Upper-Floor Units
$550–$700 / mo
Two-bedroom and upper-floor river-view flats
$550–$700
Includes:
Building maintenance, secured entry, common areas, exterior upkeep, shared utilities, parking, and a larger reserve contribution by square footage
COMMUTE & TRANSPORTATION
How Easy Is Getting Around from Park Tower?
From Park Tower, the downtown core is a 2-minute walk, the University of Nevada, Reno 8 minutes, and the airport 10 minutes. Many errands and meals are handled on foot, and RTC buses serve downtown. Most residents are professionals, university staff, or remote workers per U.S. Census ACS data.
Drive Times from Park Tower
- 2 minDowntown Reno CoreWalkable
- 8 minUniversity of Nevada, RenoVia N Virginia St
- 5 minMidtown RenoVia S Virginia St
- 10 minReno-Tahoe Intl AirportVia US-395
- 5 minReno Aces BallparkWalkable along the river
- 12 minSparksVia I-80
- 45 minLake Tahoe (Incline Village)Via I-80 / NV-431
- 40 minMt. Rose Ski ResortVia NV-431
Transportation Options
Drive times based on average non-rush-hour conditions. Sources: Google Maps traffic data, RTC Washoe.
Quick Answer
How long does it take to close on a condo in Park Tower?
Most Park Tower condo purchases close in 30–45 days; cash offers close in 7–14 days. Financed purchases require the lender to approve the building as warrantable — a key step in a 1961 high-rise — so confirm warrantability and any FHA approval before writing an offer.
Quick Answer
What credit score do you need to buy a Park Tower condo?
Park Tower purchases generally fit conforming loan limits, so financing is more accessible than at luxury price points. Conventional condo loans typically want a 620+ credit score, with the best rates at 740+; many programs allow as little as 5% down on a warrantable unit, and FHA may be an option if the building is FHA-approved. The bigger gate is building warrantability — a 1961 high-rise can carry lender overlays on owner-occupancy ratios, reserves, and litigation, so confirm the building qualifies with your lender before making an offer. Cash buyers face no credit requirement but should still budget 1–2% for closing costs.
Park Tower FAQ — 18 Answers
What Do Park Tower Buyers Most Frequently Ask?
Most AskedWhat is the median home price in Park Tower?
Park Tower condos are priced from roughly $190,000 for lower-floor units to $400,000 or more for upper-floor residences with direct Truckee River and Wingfield Park views, per Northern Nevada Regional MLS data for ZIP 89501. The current median list price in the building runs near $300,000 according to Reno/Sparks Association of REALTORS, making Park Tower one of the most attainable ways to own a high-rise condo in Downtown Reno — well below newer luxury riverfront towers that can exceed $700,000.
What makes Park Tower different from other Downtown Reno condos?
Park Tower is an 18-story mid-century modern landmark built in 1961 at 280 Island Avenue, directly on the south bank of the Truckee River overlooking Wingfield Park. Most downtown condos are newer infill or converted hotels; Park Tower offers genuine mid-century character — oversized living-room windows, single-level flats, and private decks framing unobstructed river, park, and Sierra Nevada views at an attainable $190K–$400K+ price band.
What types of units are in Park Tower?
Park Tower is a high-rise condominium building of single-level flats. Floor plans run from compact studios and one-bedroom layouts to larger two-bedroom residences, most featuring dramatically oversized living-room windows, a compact kitchen-and-dining layout, and a private deck with floor-to-ceiling sliding glass doors. Upper-floor and park-facing units capture the strongest Truckee River and Wingfield Park views, with all homes under a single building HOA.
Is Park Tower a gated community?
No — Park Tower is not a guard-gated community. It is a secured-entry downtown high-rise, meaning controlled building access rather than a staffed perimeter gate. Security comes through the locked lobby entry, the building HOA, and the active downtown setting. Buyers seeking 24-hour guard-gated security should look at gated communities such as Montreux or ArrowCreek in the Reno foothills instead.
What are HOA fees like in Park Tower?
HOA dues at Park Tower typically run $400–$700 per month depending on unit size, generally covering building maintenance, common areas, secured entry, exterior upkeep, and many shared utilities such as water, sewer, and trash. Contact Nevada Real Estate Group at (775) 204-6150 for current HOA dues on any specific listing — dues, reserve fund health, and any pending special assessments should all be verified during the inspection period.
Does Park Tower have river and park views?
Yes — Park Tower sits directly on the south bank of the Truckee River, and many residences overlook the river and Wingfield Park through oversized living-room windows and private decks. Wingfield Park, on its island in the river, hosts free summer concerts on its outdoor stage. Upper-floor and north-facing units command the strongest unobstructed river, park, and Sierra Nevada views — the building amenity that most defines Park Tower ownership and pricing.
What schools serve Park Tower?
Park Tower is in Washoe County and served by the Washoe County School District, which covers Downtown Reno. Families should verify the specific school assignment for the 89501 downtown address with WCSD at enrollment, as downtown attendance boundaries can vary by block. Reno High School and several well-regarded Reno elementary and middle schools serve the broader area, with Davidson Academy and Coral Academy of Science as regional charter alternatives.
How walkable is Park Tower?
Park Tower is among the most walkable addresses in Reno. The Truckee Riverwalk, the downtown kayak park, art galleries, riverfront restaurants, and the Reno Aces ballpark are all within a short walk, and the building sits two minutes from the downtown core. Residents can handle daily errands, dining, and entertainment on foot, with the University of Nevada, Reno about eight minutes north and Reno-Tahoe International Airport roughly ten minutes away.
What are property taxes like in Park Tower?
Property taxes for Park Tower fall under Washoe County's jurisdiction. Nevada's effective property-tax rate runs roughly 0.5–0.7% of taxable value, and the state caps annual increases on a primary residence at 3% under Nevada Revised Statutes 361.471. On a $300,000 Park Tower condo, the annual tax bill typically runs approximately $1,500–$2,100 per Washoe County Assessor data. Nevada also levies no state income tax, a meaningful advantage for relocating buyers and investors holding the unit as a rental.
Can I rent out a Park Tower condo?
Rental rules at Park Tower are governed by the building HOA CC&Rs and City of Reno ordinance — long-term leasing is common for downtown condos, while short-term and nightly rentals are more restricted and may be limited by both the HOA and city permitting. Before purchasing a Park Tower condo as an investment, verify the building's CC&Rs, any rental caps, and City of Reno short-term rental rules. Operating a non-permitted short-term rental carries fines and can affect resale.
How competitive is the Park Tower condo market?
Park Tower inventory is limited — the building holds 144+ units, and only a handful list at any one time, so well-priced, view-facing residences move quickly. Per NNRMLS data for ZIP 89501, well-priced downtown Reno condos in the entry-to-mid range typically go under contract in roughly 45 days, while higher-floor park-view units and units needing updates can take longer. When a Park Tower unit is priced correctly for its floor and view, buyer competition can accelerate the timeline significantly.
What is the investment case for Park Tower condos?
Park Tower offers an attainable entry into Downtown Reno high-rise ownership — an irreplaceable riverfront location, mid-century landmark character, and Wingfield Park views, at $190K–$400K+. Downtown Reno's ongoing revitalization, limited high-rise supply, and Nevada's zero state income tax support the long-run case. Buyers planning a 5+ year hold benefit from both appreciation potential and steady downtown rental demand from UNR staff, healthcare workers, and remote professionals — subject to HOA and City of Reno rental-rule verification.
How does Park Tower compare to other Downtown Reno towers?
Park Tower is the value-and-character option among Downtown Reno riverfront high-rises — $190K–$400K+ for mid-century flats with park views. Adjacent Arlington Towers (a larger 22-story complex) starts near $180K, the converted Riverwalk Towers from about $200K, and the newer luxury Palladio from roughly $398K with an infinity pool. Park Tower buyers trade resort-style amenities for an iconic 1961 building, larger view windows, and direct Wingfield Park frontage.
What should I budget for monthly costs in Park Tower?
At a $300,000 Park Tower purchase with 20% down at 7% interest, principal and interest runs approximately $1,597 per month. Add Washoe County property tax of roughly $150–$175 per month, HOA dues of $400–$700 per month covering building maintenance and many shared utilities, and homeowners insurance. Total monthly carrying costs for a financed purchase typically run $2,400–$2,800, with Nevada's zero state income tax keeping the overall cost of ownership lower than comparable California downtown condos.
What do Park Tower buyers need to know about the HOA?
Before writing an offer on any Park Tower condo, request the full HOA document package: CC&Rs, bylaws, meeting minutes from the past two years, the reserve fund study, the current operating budget, and any pending or recently levied special assessments. In a 1961 high-rise, elevator modernization, plumbing risers, roof, and facade work are common reserve line items — a reserve fund below 70% funded is a yellow flag. Confirm the building carries master hazard insurance on the structure and that lenders treat it as warrantable.
What is the minimum down payment to buy in Park Tower?
Most Park Tower purchases fall well within conforming loan limits, so financing is more accessible than at luxury price points. Conventional loans on a warrantable condo typically allow as little as 5% down for qualified buyers, and some first-time-buyer programs go lower; on a $300,000 purchase, 5% is $15,000 and 20% is $60,000. FHA financing may be available if the building is FHA-approved — confirm warrantability and any owner-occupancy ratios with your lender, since older high-rises can carry lender overlays. Budget an additional 1–2% for closing costs. Call Nevada Real Estate Group at (775) 204-6150 to confirm current programs for downtown Reno condos.
Is Park Tower a good investment or rental property?
Park Tower is one of the more attainable downtown Reno rental plays — an iconic riverfront address with steady tenant demand from University of Nevada, Reno staff, downtown healthcare workers, and remote professionals who want walkable river-and-park living. At $190K–$400K+, the entry cost is lower than newer luxury towers, and Nevada's zero state income tax improves the carry. The critical step: verify the building's CC&Rs and any rental caps, and confirm City of Reno rules before buying as an investment — some downtown buildings restrict short-term and nightly rentals.
Can Nevada Real Estate Group help me buy or sell a Park Tower condo?
Yes — Nevada Real Estate Group represents buyers and sellers throughout Downtown Reno, including Park Tower high-rise transactions. Our agents prepare a custom CMA using NNRMLS closed data specific to ZIP 89501 and Park Tower's floor-and-view tiers, and we know the building's HOA structure and warrantability picture. Call (775) 204-6150 or submit the form below for a no-obligation consultation.
Updated June 2026
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PEOPLE ALSO ASK
What Else Do People Ask About Park Tower?
Beyond the main FAQ, these are the questions Park Tower buyers most frequently type into Google and AI assistants — each answered with verifiable specifics: prices sourced from the Reno/Sparks Association of REALTORS, HOA dues from building records, building history from the Washoe County Assessor, and GreatSchools 2026 school ratings.
Is Park Tower a good investment?
Park Tower offers an attainable entry into Downtown Reno high-rise ownership — an irreplaceable riverfront location with limited high-rise supply. Downtown revitalization, steady rental demand from UNR and healthcare workers, Nevada zero state income tax, and the 3% property-tax cap under NRS 361.471 create favorable long-term math. Buyers planning 5+ year holds have historically seen solid appreciation in ZIP 89501 — verify HOA rental rules and warrantability first.
What is Park Tower in Reno?
Park Tower is an 18-story mid-century modern high-rise condominium at 280 Island Avenue in Downtown Reno, Nevada, on the south bank of the Truckee River overlooking Wingfield Park. Built in 1961 with 144+ single-level flats, it is one of the city's most recognizable residential landmarks, prized for oversized view windows, private decks, and a walkable riverfront location at a $190K–$400K+ price band.
Can I do a short-term rental in Park Tower?
Short-term rentals at Park Tower are subject to two layers of rules: (1) the City of Reno short-term rental ordinance and permitting; and (2) the building HOA CC&Rs, which may restrict or prohibit nightly rentals and cap leasing. Both must be verified before purchasing as a short-term rental investment. Long-term leasing is more commonly permitted; confirm any rental caps and the current HOA position before buying.
Does Park Tower have parking?
Park Tower provides building parking for residents, though arrangements vary by unit — some units convey a deeded or assigned space and others use shared or permitted parking. Downtown street parking is also available nearby. Confirm the specific unit's parking arrangement, whether it is deeded, and any HOA parking fees during your showing and the inspection period.
How old is Park Tower and is that a concern?
Park Tower was built in 1961, so it is a mature mid-century high-rise. Age is not a concern when the HOA reserves are healthy — request the reserve fund study and review elevator, plumbing-riser, roof, and facade line items. A well-funded reserve and a documented maintenance history are strong signals; a reserve below 70% funded or a pattern of special assessments is a yellow flag worth investigating before buying.
What are the best units in Park Tower?
Upper-floor units on the higher tiers typically command premium pricing for direct, unobstructed Wingfield Park and Truckee River views — these are the $350K–$400K+ residences. Entry lower-floor units in the $190K–$275K range offer the most attainable downtown high-rise ownership. North-facing and park-facing units with larger decks and the best river outlook are the most sought-after within each floor tier.
Is Downtown Reno worth living in versus the suburbs?
For buyers who want walkability, riverfront access, and a short commute to UNR or the downtown core, Park Tower and Downtown Reno are uniquely positioned — most daily needs are on foot. For buyers who prioritize larger homes, yards, and top-tier suburban schools, South Reno and Northwest Reno master plans offer more space at $500K–$700K versus $190K–$400K+ for a downtown condo. It is a lifestyle choice as much as a price one.
What is the view like from Park Tower?
Park Tower's views are its signature feature — oversized living-room windows and private decks frame the Truckee River, Wingfield Park's island and amphitheater, the downtown skyline, and the Sierra Nevada beyond. Upper floors deliver the most expansive, unobstructed outlook, while lower floors trade some view for a lower price. Many units look directly onto Wingfield Park, where free summer concerts play on the island stage.
WHY NEVADA REAL ESTATE GROUP
Why Is Nevada Real Estate Group the #1 Real Estate Team in Nevada?
Deep knowledge of Downtown Reno condo buildings — HOA structures, reserve studies, warrantability, and the floor-tier price map — plus 150+ licensed agents and 9,061+ verified five-star reviews. With 6,225+ closed transactions and $4.1B+ in total volume, Nevada Real Estate Group ranks #1 in Nevada, covering every Park Tower tier from entry lower-floor units to upper-floor river-view flats.
#1
Real estate team in Nevada
Ranked Top 100 nationwide, RealTrends 2025
150+
Licensed Nevada agents
Henderson, Summerlin, Las Vegas, North Las Vegas
$4.1B+
In total sales volume
Across 6,225+ closed transactions
9,061+
Verified 5-star reviews
4.9/5 (Google, Zillow, FastExpert)
16+
Years in the Las Vegas Valley
Founded by Chris Nevada · License S.181401
#1
TEAM IN NEVADA
6,225+
HOMES SOLD SINCE 2009
9,061+
★★★★★ REVIEWS
< 1 hr
AVERAGE RESPONSE
WORK WITH THE BEST
Nevada's #1 team is
ready to help you move.
Ready to make a move?
Want to Talk to a Park Tower Real Estate Expert?
6,225+ transactions. $4.1B+ in total volume. Chris Nevada and the Nevada Real Estate Group team serve buyers and sellers across Northern Nevada — we know Park Tower's floor tiers, HOA reserve picture, and warrantability firsthand. Call (775) 204-6150 or tell us what you're looking for and we'll find your home.
NEARBY COMMUNITIES
Which Communities Are Near Park Tower?
Compare Park Tower with neighboring Downtown Reno towers and nearby Reno areas. Each card pairs the walk or drive time to Park Tower with the community's price positioning, so you can judge whether an adjacent building or neighborhood buys you a meaningfully different lifestyle.
A–Z INDEX
Which Reno and Downtown Communities Can You Explore?
Key Reno and Downtown communities — from Park Tower's mid-century river-view condos to Midtown's walkable district to South Reno's master plans. Every linked entry opens a dedicated page with current NNRMLS listings, price ranges, and details for that specific community.
KEEP LEARNING
What Else Should You Read About Park Tower and Downtown Reno?
These guides extend the research most Park Tower buyers do next — exploring the other Downtown Reno riverfront towers, understanding the broader downtown condo market, and reviewing Reno neighborhood comparisons — each written from the same NNRMLS data and primary sources used throughout this page.
GUIDE
Arlington Towers Community Guide
The larger 22-story established riverfront complex next door — among the lowest downtown high-rise price floors, from $180K.
Read →GUIDE
Downtown Reno Real Estate Guide
The full Downtown Reno condo market — riverfront towers, lofts, and converted buildings from $180K to $1M+ across the urban core.
Read →MARKET REPORT
Reno Market Hub
Truckee Meadows and Northern Nevada market data, neighborhood comparisons, and every Reno community page in one place.
Read →Sources & Methodology
Where Does This Park Tower Data Come From?
Every statistic on this page is sourced from a primary or government dataset, and we refresh these numbers monthly. The organizations below — from the U.S. Census Bureau to the Reno/Sparks Association of REALTORS — supply the underlying data; follow any link to verify a figure or pull deeper detail than we publish here.
- Reno/Sparks Association of REALTORS (RSAR) — Median sold price, days on market, list-to-sold ratio, and monthly MLS statistics for ZIP 89501 (Downtown Reno / Park Tower). rsar.realtor
- Northern Nevada Regional MLS (NNRMLS) — Active listings, inventory counts, price-per-square-foot, and building-level data for Park Tower and Downtown Reno. nnrmls.com
- U.S. Census Bureau — Population, demographics, household income, age distribution, and education attainment (ACS) for Reno city and ZIP 89501. data.census.gov
- Nevada State Demographer — City and county population estimates and growth projections for Washoe County and the Reno-Sparks MSA. census.gov/quickfacts
- U.S. Bureau of Labor Statistics — Reno-Sparks MSA unemployment rate, employment by sector, and wage data used in the economy section. bls.gov/reno-sparks
- Washoe County Assessor — Property tax rates, assessed values, year-built records, and parcel data for Park Tower and Downtown Reno (ZIP 89501). washoecounty.gov/assessor
- Washoe County School District — School assignments, enrollment, and district performance data for the Downtown Reno 89501 attendance area. washoeschools.net
- GreatSchools.org — K-12 school ratings, test scores, and student-teacher ratios for schools near Park Tower. greatschools.org
- Nevada Report Card — Official Nevada DOE school performance data cross-referenced with GreatSchools ratings. nevadareportcard.nv.gov
- City of Reno Parks & Recreation — Wingfield Park, Truckee Riverwalk, the kayak park, and downtown park and event information used in the recreation section. reno.gov/parks
- Freddie Mac PMMS — Mortgage rate weekly survey used in the payment calculator and buy-vs-rent model. freddiemac.com/pmms
- Nevada Revised Statutes — Property tax cap (NRS 361.471) and Nevada residency / DMV deadlines cited in the relocation guide. leg.state.nv.us/nrs
- Reno Police Department — Annual crime statistics for Downtown Reno and ZIP 89501 used in the safety section. reno.gov/police
Methodology: Listing data is sourced via Repliers IDX feed (Las Vegas MLS) and refreshed every 15 minutes. Demographic and economic data are pulled monthly via Census/BLS APIs. School data is refreshed quarterly. All comparisons are like-for-like (same metric, same time period).
Last refresh: June 2026 · Next scheduled refresh: July 2026