110 Masonic Ave | Redding, CA 96003
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110 Masonic Ave
Redding, CA 96003
Multifamily Property For Sale · 6 Units
Investment Highlights
- 100% occupied 6-plex
- All HVAC has been replaced throughout with mini-split systems
- Below market rents, only one unit turned over since 2021
- Unit 1 is fully remodeled
Executive Summary
All units are 1 bed 1 bath. 100% occupied 6-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,221.00/month ($62,652/year) and annual expenses coming in around $21,280/year (including a maintenance reserve), the property provides just over a 6.0% 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. Property owners had planned to remodel each unit as there was natural turnover, but only one unit has come up since 2021 (unit 1 is fully remodeled).
PROPERTY FACTS
| Price Per Unit | $163,863 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,520 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 2.21/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price Per Unit | $163,863 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,520 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 2.21/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
PROPERTY TAXES
| Parcel Number | 113-410-020-000 | Improvements Assessment | $534,928 CAD |
| Land Assessment | $151,034 CAD | Total Assessment | $685,962 CAD |
PROPERTY TAXES
Parcel Number
113-410-020-000
Land Assessment
$151,034 CAD
Improvements Assessment
$534,928 CAD
Total Assessment
$685,962 CAD
zoning
| Zoning Code | GC |
| GC |
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