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140 Masonic Ave

Redding, CA 96003
  • $944,000
  • STATUS: Active
  • ON SITE: 10 Days
  • ID#: 24-3009
UPDATED: 104 min ago
$944,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
N/A
Type:
Multi-Family
Built:
1977
County:

School Ratings & Info

Description

100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, all new HVAC mini-splits, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,615.00/month ($79,380/year) and annual expenses coming in around $23,600/year (including a maintenance reserve), the property provides just under a 5.85% cap rate. And with Bethel School/Church just 1.8 miles to the east and a new sidewalk & bike path under construction, the property is literally within walking distance to Bethel, Simpson University, and Shasta College, providing a constant supply of quality tenants and high apartment demand. Property owners had planned to remodel each unit as there was natural turnover, but only three units have come up since 2021 (units 2, 5 & 6 are fully remodeled). All of the units are 2 bedrooms with 1 bath.

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IDX information © 2024 Shasta Association of Realtors MLS. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2024-07-21T19:59:02.327.

Licensed in the State of California.
www.search530.com/homes/152467820
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140 Masonic Ave Redding, CA 96003

  • Price: $944,000
  • Status: Active
  • On Site: 10 Days
  • Updated: 104 min ago
  • ID#: 24-3009
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1977
Built
Neighborhood:
N/A
County:
Shasta
Area:
01 - NW Redding
Property Description
100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, all new HVAC mini-splits, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,615.00/month ($79,380/year) and annual expenses coming in around $23,600/year (including a maintenance reserve), the property provides just under a 5.85% cap rate. And with Bethel School/Church just 1.8 miles to the east and a new sidewalk & bike path under construction, the property is literally within walking distance to Bethel, Simpson University, and Shasta College, providing a constant supply of quality tenants and high apartment demand. Property owners had planned to remodel each unit as there was natural turnover, but only three units have come up since 2021 (units 2, 5 & 6 are fully remodeled). All of the units are 2 bedrooms with 1 bath.
Exterior Features

Parking Features Off Street Stories 2

Property Features

Property Sub Type Residential Income

Listing provided courtesy of Chris Haedrich of Capital Rivers Commercial: 530-221-1127.


IDX information © 2024 Shasta Association of Realtors MLS. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2024-07-21T19:59:02.327.

Licensed in the State of California.
 
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Waterman Real Estate
1760 Churn Creek Rd.
Redding CA, 96002