140 Masonic Avenue
$914,000
140 Masonic Avenue, Redding, CA 96003
6.46
Cap Rate
59,055
NOI
Details:
Highlights:
- 100% occupied 6-plex (all 2 bed/1 bath).
- Below market rents.
- All HVAC has been replaced throughout with mini-split systems.
- Units 2, 5 & 6 have been fully remodeled.
- Truly low maintenance with new roof, paint, HVAC and little landscaping.
- Can be combined with 110 and 130 Masonic Avenue for up to 18 total units.
Description:
100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, new roof, all new HVAC mini-splits, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,875.00/month ($82,500/year), additional laundry income averaging around $1,300/year, and annual expenses coming in around $24,745/year (including a maintenance reserve), the property provides just over a 6.45% cap rate. Units 2, 5 & 6 were fully remodeled in 2021. All of the units are 2 bedrooms with 1 bath.
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
