$716,000
Redding, CA 96003
MLS# 24-2993
Status: Closed
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Property Description
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.
Details
Maps
Address Information
Cross Street: Lake Blvd
Street Number: 120
Street Name: Masonic Ave
State/Province: CA
Postal Code: 96003
County: Shasta
Property Description
Property Sub Type: Residential Income
List Price: 711000
Parcel Number: 113410021000
Lot Dim or Acres: .19
GP Zone: RED GI - General Industry
Zoning: RED - C-2 - Central Commericial District
Year Built Desc: 30+
Stories: 2
Current Price: $716,000
Area: 01 - NW Redding
Subdivision: N/A
Year Built: 1977
Remarks
Public Remarks: 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.
Directions: 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; on right.
Contract Information
Listing Contract Date: 2024-07-09
Status: Closed
List Date: 2024-07-09
Sold Date: 2025-05-19
Under Contract Date: 2024-12-06
Sold Price: $716,000
Unit Type
5 or More: 1
Parking
Off Street: 1
Selling Terms
Conventional: 1
Property Features
Unit Type: 5 or More
Parking: Off Street; Off Street
Selling Terms: Conventional
Supplements
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
IDX
Listing Office: Capital Rivers Commercial
Last Updated: August - 18 - 2025
Information deemed reliable but not guaranteed.