110 Masonic Ave, Redding, CA 96003

$696,000
List Price
$696,000
Status
ACTIVE
Days on Market
4
MLS#
24-2990
Subtype
Residential Income
County
Shasta
Subdivision
N/A

Property Description

100% occupied 6-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 $5,221.00/month ($62,652/year) and annual expenses coming in around $20,500/year (including a maintenance reserve), the property provides just over a 6.0% 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 one unit has come up since 2021 (unit 1 is fully remodeled).

Additional Information

Days on market
4
Year built
1978
Stories
2

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Capital Rivers Commercial.