140 Masonic Ave, Redding, CA 96003
$914,000
140 Masonic Ave Redding, CA 96003
$914,000
140 Masonic Ave
Redding, CA 96003
100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, new roof, all new HVAC mini-splits, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,820.00/month ($81,840/year), additional laundry income averaging around $1,300/year, and annual expenses coming in around $23,500/year (including a maintenance reserve), the property provides just over a 6.5% 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.
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Price$914,000
Year Built1977 Listing TypeResidential Income Property TypeResidential Income
Area01 - NW Redding
MLS Listing ID24-3009 Published Date7/10/2024 1:43:00 PM 59 days ago Listing Modified8/5/2024 5:30:00 PM 33 days ago
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