1849 Parallel Street
Property Description
Excellent investment opportunity with strong cash flow, significant recent upgrades, and upside potential. This well-maintained fourplex features a desirable unit mix of two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, currently generating $3,725 per month in rental income. Current rents are believed to be below market, offering investors the opportunity to increase income over time while benefiting from an established tenant base that includes several long-term tenants. Major capital improvements help keep maintenance costs low, including a new roof installed in 2025, two new HVAC systems installed in 2025 and 2026, and one unit that was completely remodeled in 2023. Additional amenities include an on-site laundry room, three garage spaces, and four covered carport parking spaces, providing convenience and value for tenants. Ideal for both investors and owner-occupants, this property offers the opportunity to live in one unit while rental income from the remaining units helps offset ownership costs. With long-term tenants, a solid rental history, low-maintenance improvements, and potential for future rent growth, this property presents an attractive combination of stability, income, and upside. Conveniently located in Shasta Lake City with easy access to Interstate 5, shopping, dining, and outdoor recreation. A rare opportunity to acquire a turn-key multi-family property with strong fundamentals, pride of ownership, and future income potential.
Broker Details
Waterman Real Estate (916) 410-1284
MLS ID: 3257 State License Number: 01469749
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $440,000 |
| Year Built: | 1980 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 0 |
ID: 3yd-SHASTACA-26-2773
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