$711,000
PENDING $35K PRICE DROP

120 Masonic Ave Redding, CA 96003

Estimated payment $4,680/month

Total Views 1,542
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

100% occupied 5-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, brand new roof, freshly painted exterior, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,943.00/month ($68,316.00/year), laundry income averaging around $3,000/year, and annual expenses coming in around $27,875/year (including a maintenance reserve), the property provides just over a 6.1% cap rate. 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.

Highlights
- 100% occupied 5-plex (with one 3 bedroom/2.5 bath unit)
- Below market rents
- All HVAC has been replaced throughout with mini-split systems
- Unit 5 is fully remodeled
- Includes income from onsite laundry
- Low maintenance with new roof, new paint, new HVAC, and little landscaping

Listing Agent

Chris Haedrich

Capital Rivers Commercial License #01484672

Capital Rivers Commercial

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1977

Parking

  • Off-Street Parking

Community Details

  • 5 Units

Listing and Financial Details

  • Assessor Parcel Number 113410021000

Property Details

Home Type

Multi-Family

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Directions: Well located apartment complex directly across Lake Blvd from Raley's shopping center. From I-5 take the HWY 299/Lake Blvd exit; head west on Lake Blvd; turn left (south) on Masonic Avenue; on right.
  • Prop. Type: Residential Income
  • Year Built: 1977
  • Building Stories: 2
  • Subdivision Name: N/A
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Garage/Parking

  • Parking Features: Off Street
  • ParkingOffStreet: Yes

Lot Info

  • Parcel #: 113410021000
  • Lot Dimensions: .19
  • Zoning Description: RED - C-2 - Central Commericial District

Multi Family

  • Number Of Units Total: 5

Map

Range of Values:

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/06/2024 12/06/24 Pending -- -- --
08/05/2024 08/05/24 Price Changed $711,000 -4.7% --
07/09/2024 07/09/24 For Sale $746,000 -- --
Source: Shasta Association of REALTORS®

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Source: Shasta Association of REALTORS®

MLS Number: 24-2993

Shasta Association of REALTORS®