130 Masonic Avenue 6-plex
130 Masonic Ave
Redding, CA 96003
FOR SALE
Property Type:
MultiFamily ApartmentsAmount:
$859,000
Last Verified:
Feb 17, 2025Daily Email Blast
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Highlights
- 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
Description
100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents, all new HVAC mini-splits in 2021, new roof in 2021, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,753.00/month ($81,036/year) and annual expenses coming in around $24,000/year (including a maintenance reserve), the property provides just over a 6.6% cap rate. 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.
Year Built: 1977
Building Size: 4648sq ft
Lot Size: 0.19 acres