120 Masonic Ave Redding, CA 96003

100% occupied 5-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, brand new roof, freshly painted exterior, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,943.00/month ($68,316.00/year), ...laundry income averaging around $3,000/year, and annual expenses coming in around $27,875/year (including a maintenance reserve), the property provides just over a 6.1% 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 includes laundry room with laundry income. Unit 5 interior has been fully remodeled and unit 3 is a 2-story 3 bedroom/2.5 bath apartment with indoor laundry. Highlights - 100% occupied 5-plex (with one 3 bedroom/2.5 bath unit) - Below market rents - All HVAC has been replaced throughout with mini-split systems - Unit 5 is fully remodeled - Includes income from onsite laundry - Low maintenance with new roof, new paint, new HVAC, and little landscaping Continue reading