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High Quality Fourplex Investment

$715,000

150 Masonic Ave, Redding, CA 96003

Active
Last Updated: 12/14/2023

5.45

Cap Rate

38,995

NOI

Details:
Cap Rate:    5.45%
NOI:    $38,995
Building Size:    3,696 sqft
Lot Area:    0.22 acres
Occupancy:    75%
Units:    4
Year Built:    1978
Floors:    2
Highlights:
  • Freshly remodeled fourplex with 3 of the 4 units renovated floor-to-ceiling
  • Completely transformed exterior with modern aesthetic and resealed parking lot
  • Each unit has 2 bedrooms and 1.5 bathrooms
  • Walking distance to shopping and biking distance to BSSM, Simpson University and Shasta College
  • Onsite laundry offers opportunity for additional income
Description:

First class recently remodeled fourplex in northern Redding, CA within walking distance to groceries and shopping, and biking distance to BSSM, Shasta College and Simpson University. 3 of the 4 units have been completely remodeled, offering a wealth of upgrades, including new flooring, texture, fresh paint, chic lighting, and modern finishes, fixtures and fans. Each approximate 924 square foot unit exudes contemporary comfort and includes 2 bedrooms with 1.5 bathrooms. 3 of the 4 units are rented and the 4th should be leased shortly with applications coming in. The exterior has undergone a recent transformation, showcasing high-quality finishes that elevate the curb appeal with a modern design and carefully chosen materials to create a welcoming façade that stands out in the neighborhood. With ample parking for residents and guests, the front lot has been freshly resealed and striped to further elevate the exterior aesthetic and decrease future maintenance for the next owner. New onsite laundry provides additional revenue source as well. Fourplex next door (170 Masonic) also available for sale offering an opportunity to purchase 8 units together.

Ideally located off Lake Blvd in north Redding near shopping directly across from Raley's. From I-5 exit 299/Lake Blvd, head west and turn left (south) on Masonic Avenue. The property is on the right.

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