$1,760,005
Redding, CA 96003
MLS# 22-1980
Status: Closed
8287 sqft
1 / 12
Property Description
100% Leased Investment - 5 year modified gross lease to private school. 6.25% Cap Rate. The property was improved for the school in 1986 and offers programs from age 2 to age 12. The property consists of two parcels and is improved with a former residential tri-plex that is now used for housing and classrooms. The second parcel is improved with the main building that is 4,534 square feet. Corner location with easy access to all of Redding. The tenant has a superb reputation in the community and has been in operation at this site since 1986. DO NOT DISTURB TENANT OR VISIT PROPERTY WITHOUT CONTACTING BROKER.
Details
Maps
Address Information
Cross Street: Old Alturas Avenue
Street Number: 1410-1420
Street Name: Victor
State/Province: CA
Postal Code: 96003
County: Shasta
Property Description
List Price: 1875000
Parcel Number: 071-260-037 and 038
Lot Dim or Acres: 35283
Sq Ft - Building: 8287
SqFt - Bldg Rentable: 8287
Sq Ft - Lot: 35283
SqFt - Bldg Usable: 8287
GP Zone: RED 10-20 u/a - 10-20 dwelling units per acre
Zoning: Redding RM-12 Residential Multi-Family
Year Built Desc: 30+
Current Price: $1,760,005
Area: 02 - NE Redding
Year Built: 1986
Remarks
Public Remarks: 100% Leased Investment - 5 year modified gross lease to private school. 6.25% Cap Rate. The property was improved for the school in 1986 and offers programs from age 2 to age 12. The property consists of two parcels and is improved with a former residential tri-plex that is now used for housing and classrooms. The second parcel is improved with the main building that is 4,534 square feet. Corner location with easy access to all of Redding. The tenant has a superb reputation in the community and has been in operation at this site since 1986. DO NOT DISTURB TENANT OR VISIT PROPERTY WITHOUT CONTACTING BROKER.
Directions: Located on the south west corner of Old Alturas and Victor.
Business Type
See Remarks: 1
Present Use
School: 1
Exterior
Stucco: 1
Roof
Tile: 1
Floors
Tile: 1
Wall to Wall Carpet: 1
Parking
Off Street: 1
Lease Type
Modified Gross: 1
Lease Term
3 - 5 Years: 1
Addl Lease Info
# of Tenants: 1
# Months Remaining: 60
Utilities
Gas: 1
Public Water: 1
Sewer: 1
Telephone: 1
Available Terms
All Cash to Seller: 1
Cash: 1
Cash to New Loan: 1
Expense Data Source
Projected: 1
Heat/Cool
Central Air: 1
Central Heat: 1
Possession
Close of Escrow: 1
Selling Terms
Exchange: 1
Contract Information
Status: Closed
Sold Date: 2022-06-30
Under Contract Date: 2022-05-09
Sold Price: $1,760,005
List Date: 2022-04-22
Property Features
Business Type: See Remarks
Present Use: School
Parking: Off Street
Exterior: Stucco
Roof: Tile
Lease Term: 3 - 5 Years
Lease Type: Modified Gross
Expense Data Source: Projected
Floors: Tile; Wall to Wall Carpet
Utilities: Gas; Public Water; Sewer; Telephone
Available Terms: All Cash to Seller; Cash; Cash to New Loan
Possession: Close of Escrow
Selling Terms: Exchange
IDX
Listing Office: Haedrich & Co., Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.