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Masonic Avenue Apartments

$1,773,000

130 & 140 Masonic Avenue, Redding, CA 96003

Active
Last Updated: 04/24/2025

6.55

Cap Rate

116,112

NOI

Details:
Cap Rate:    6.55%
NOI:    $116,112
Building Size:    9,416 sqft
Lot Area:    0.38 acres
Occupancy:    100%
Units:    12
Floors:    2
Highlights:
  • 100% occupied 12 unit apartment complex on 2 separate adjacent properties
  • 5 of the units have been completely remodeled
  • All HVAC has been replaced throughout with mini-split systems in 2021
  • approximately 6.38% cap rate on existing income & expenses
  • Gross rent multiplier at 11.0 on existing income
Description:

2 adjacent 100% occupied 6-plexes for sale in northern Redding, CA on 2 separate adjacent parcels with great tenants, below market rents, all new HVAC mini-splits in 2021, new roofs in 2021, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. All 12 are 2 Bed/1 Bath units, and 5 of the 12 units have been remodeled. Current gross monthly rents are at $13,628.00/month ($163,536.00/year) with additional laundry income adding approximately $1,300/year, and annual expenses coming in around $48,700/year (including a maintenance reserve), the property provides a cap rate of approximately 6.55% with existing income & expenses.

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

Map:
Documents:
Title
MasonicAve-Redding_BrochureV4.pdf
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Today's Available Mortgage Rates

130 & 140 Masonic Avenue, Redding, California 96003

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 06/06/2025
BankLender #1049
5 Year Fixed
25 Year Amortization
Interest rate 5.96% 5 Year Fixed
Mo. Payment$7,739 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 68% LTV $0 Lender fees
Loan Amount $1,205,640 Loan Amount
AgencyLender #633
7 Year Fixed
30 Year Amortization
Interest rate 6.06% 7 Year Fixed
Mo. Payment$6,954 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 65% LTV $8,500 Lender fees
Loan Amount $1,152,450 Loan Amount
AgencyLender #633
10 Year Fixed
30 Year Amortization
Interest rate 6.14% 10 Year Fixed
Mo. Payment$7,014 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 65% LTV $8,500 Lender fees
Loan Amount $1,152,450 Loan Amount
Largest Commercial Real Estate Lending
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