The little old house at 347 West Street that resisted the downtown Jacobs expansion buyout spree for years has finally been bought by Jacobs Entertainment, according to Washoe County records, for $1.2 million, more than double, even up to triple, its estimate on several realtor websites.
It had been bought for just over $140,000 in 2015.
It’s believed by many to be the oldest house in Reno, on Lot 8 of Block E on the original Reno townsite, built within a year or so of the city’s founding in 1868.
The lot was originally purchased for $200.
In a quote in an RGJ article today, Jeffrey Jacobs says he is willing to sell it to anyone for $1 if they are willing to relocate the Benham-Belz House, as it is known by historians.
The initial occupants were the Benham family who then moved to Spokane, before they sold the home to Reno barber John Belz in 1883. His daughter Florence lived in the house until she died in 1981 at the age of 87.
The current sellers included John Gorham, a co-owner of the nearby beleaguered Bonanza Inn, which should be auctioned on soon, and coincidentally or not, Jacobs Entertainment has now decided to pass on bidding for after making headlines for being interested in that property as well.
UNR, Jacobs Entertainment and others with an eye on new development have had spotty records in terms of saving historical structures in recent years, either leaving them on crutches to slowly rot, moving a few in costly endeavors and demolishing others.