110 Masonic Avenue 6-plex
110 Masonic Ave
Redding, CA 96003
FOR SALE
Property Type:
MultiFamily ApartmentsAmount:
$681,000
Last Verified:
Feb 16, 2025Daily Email Blast
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Highlights
- 100% occupied 6-plex
- All units are 1 bedroom and 1 bathroom
- All HVAC has been replaced throughout with mini-split systems
- Unit 1 was fully remodeled in 2022
Description
100% occupied 6-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits in 2021, and close proximity to shopping, transportation, and schools. All units are 1 bed 1 bath with current gross monthly rents at $5,346.00/month ($64/152/year) and annual expenses coming in around $21,695/year (including a maintenance reserve), the property provides just over a 6.2% cap rate. Unit 1 was remodeled in 2022 and the units are rarely vacant. Steady demand in this area of the City.
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.
Year Built: 1978
Building Size: 3456sq ft
Lot Size: 0.19 acres