120 Masonic Ave, Redding, CA 96003

$746,000
List Price
$746,000
Status
ACTIVE
Days on Market
4
MLS#
24-2993
Subtype
Residential Income
County
Shasta
Subdivision
N/A

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.

Additional Information

Days on market
4
Year built
1977
Stories
2

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Calculator source: Real Geeks

Listing courtesy of Capital Rivers Commercial.