130 Masonic Ave

Home » All Multifamily Properties » California & West » 130 Masonic Ave

Address: 130 Masonic Ave, Redding, CA 96003, USA

California & West + Apartment Buildings

Created date: July 10, 2024

Date last updated: October 24, 2024

100% occupied 6-plex (all 2 bed/1 bath)
Below market rents,
All HVAC has been replaced throughout with mini-split systems
Units 7 & 8 have been fully remodeled
Low maintenance with new roof, new paint, new HVAC, and little landscaping

Property Description

100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, all new HVAC mini-splits, new roof, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,461.00/month ($77,532/year) and annual expenses coming in around $23,000/year (including a maintenance reserve), the property provides just over a 6.35% cap rate. And with Bethel School/Church just 1.8 miles to the east and a new sidewalk & bike path under construction, the property is literally within walking distance to Bethel, Simpson University, and Shasta College, providing a constant supply of quality tenants and high apartment demand. Property owners had planned to remodel each unit as there was natural turnover, but only three units have come up since 2021 (units 7 & 8 are fully remodeled). All of the units are 2 bedrooms with 1 bath.

Available

Request Information

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$859,000
No. of Units:	6
Average Occupancy:	6.36
Year Built:	1977
Lot Size:	0.19 Sq ft
Opportunity Zone:	No
Price per unit:	$143,167
Property Website	Click Here