McCormick Mansion

1452 Oregon St, Redding, CA

$695,000

Price

6.49%

Cap Rate

$45,126.68

NOI

Gallery
Street
Map
Overview
Cap Rate
6.49%
NOI
$45,126.68
Building Size
4,626 sqft
Lot Area
0.26 acres
Occupancy
100%
Class
A
Year Built
1879
Floors
3
Description

This historic two-story Victorian office building is located in the heart of downtown Redding, California. The building was built in 1879 and has been beautifully restored, retaining its original architectural details. The interior features 11 small offices, two bathrooms on each floor, a full kitchen, and a third-floor storage area. One of the suites includes the full restroom with shower. In addition, there is a third floor with lower ceilings and not conditioned that is accessed from the interior stairwell that includes a small half-bath. The building includes on-site parking and a two-car detached garage. The inviting courtyard is a great place to relax, entertain clients, or rent out for weddings and corporate events. The building is currently managed for individual office suites and is fully leased with professional tenants. The property is also located close to many downtown amenities providing wonderful walkability and immediately next to the new Courthouse making it perfect for any law firm. Proforma reflects strong cashflow and returns!

Located in Downtown Redding on the corner of Oregon Street and Butte Street, just north of the new Shasta County Courthouse.

Highlights
  • Strong Proforma Cashflow
  • Historic Shingle Style Victorian Architecture
  • 11 Office with Lots of Natural Light
  • Two Restrooms on each Floor
  • Additional Storage Area on Third-Floor
  • Inviting Courtyard and Second Floor Decks
  • Two-car Detached Garage and On-Site Parking
  • Close to Restaurants, Shops, and Other Amenities
Location
Gallery