110 Masonic Avenue 6-plex
$681,000
110 Masonic Avenue, Redding, CA 96003
6.23
Cap Rate
42,457
NOI
Details:
Highlights:
- 100% occupied 6-plex multifamily unit.
- All units are 1 bedroom and 1 bathroom.
- All HVAC has been replaced throughout with mini-split systems.
- Unit 1 was fully remodeled in 2022.
- Can be combined with 130 and 140 Masonic Avenue for up to 18 total units.
Description:
100% occupied 6-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits in 2021, and close proximity to shopping, transportation, and schools. All units are 1 bed 1 bath with current gross monthly rents at $5,346.00/month ($64/152/year) and annual expenses coming in around $21,695/year (including a maintenance reserve), the property provides just over a 6.2% cap rate. Unit 1 was remodeled in 2022 and the units are rarely vacant. Steady demand in this area of the City.
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; property is on the right.
Redding Electric Utility
Documents:
| Title | ||
|---|---|---|
| MasonicAve-Redding_BrochureV4.pdf |
Location
Gallery
