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120 Masonic Ave

Redding, CA 96003
  • $746,000
  • STATUS: Active
  • ON SITE: 8 Days
  • ID#: 24-2993
UPDATED: 24 min ago
$746,000
  • 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 5-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,503.00/month ($66,036/year), laundry income averaging at $2,300/year, and annual expenses coming in around $21,940/year (including a maintenance reserve), the property provides just over a 6.2% 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 includes laundry room with laundry income. Unit 5 interior has been fully remodeled and unit 3 is a 2-story 3 bedroom/2.5 bath apartment with indoor laundry.

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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: 2024-07-18T09:59:27.767.

Licensed in the State of California.
www.searchshasta.com/homes/152438020
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120 Masonic Ave Redding, CA 96003

  • Price: $746,000
  • Status: Active
  • On Site: 8 Days
  • Updated: 24 min ago
  • ID#: 24-2993
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 5-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,503.00/month ($66,036/year), laundry income averaging at $2,300/year, and annual expenses coming in around $21,940/year (including a maintenance reserve), the property provides just over a 6.2% 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 includes laundry room with laundry income. Unit 5 interior has been fully remodeled and unit 3 is a 2-story 3 bedroom/2.5 bath apartment with indoor laundry.
Exterior Features

Parking Features Off Street Stories 2

Property Features

Compensation Disclaimer The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed. Property Sub Type Residential Income Unit Type Five Or More Yes

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: 2024-07-18T09:59:27.767.

Licensed in the State of California.
 
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Wise House Realty | United Realty Group
1823 Court St.
Redding CA, 96003