110 - 140 Masonic, Redding, CA 96003
$3,165,000
110 - 140 Masonic Redding, CA 96003
$3,165,000
110 - 140 Masonic
Redding, CA 96003
100% occupied 23-unit apartment complex for sale in northern Redding, CA on 4 separate adjacent parcels with long term tenants, below market rents, all new HVAC mini-splits, 3 of 4 buildings have new roofs, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. There are 6 x 1 Bed/1 Bath units, 16 x 2 Bed/1 Bath units, 1 x 3 Bed/2.5 Bath unit, and 7 of the 23 units have been remodeled in the past year. Current gross monthly rents are at $24,195.00/month ($290,340.00/year) with additional laundry income adding approximately $4,300/year, and annual expenses coming in around $95,730/year (including a maintenance reserve), the property provides just under a 6.3% cap rate with existing income & expenses.
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Price$3,165,000
Listing TypeResidential Income Property TypeResidential Income
Area01 - NW Redding
MLS Listing ID24-3016 Published Date7/10/2024 5:44:00 PM 59 days ago Listing Modified8/20/2024 12:00:00 PM 18 days ago
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