$800,000
Redding, CA 96001
MLS# 23-2238
Status: Closed
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Property Description
Prime Investment Opportunity! a well maintained 7-unit apartment building in Redding. Each spacious unit boasts 2 bedrooms, 1 bath, and central HVAC, and each unit comes with a convenient 1-car attached garage. With a excellent gross income of over $75,000 per year with a 6.18% CAP rate, this property provides a lucrative return on investment. PLUS there's upside potential with ample room for rent increases in the coming years, which can increase profits without the need of adding more capital investment. Whether you're a seasoned investor or just starting your real estate journey, this opportunity is not to be missed. Seize the chance to secure a prosperous future.
Details
Maps
Address Information
Cross Street: HWY 273
Street Number: 2124
Street Name: Branstetter Ln
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
Property Sub Type: Residential Income
List Price: 799000
Parcel Number: 049-120-021-000
Lot Dim or Acres: 27,878
GP Zone: NOT AVAILABLE
Zoning: NOT AVAILABLE
Year Built Desc: 30+
Stories: 1
Current Price: $800,000
Area: 04 - SW Redding
Subdivision: N/A
Remarks
Public Remarks: Prime Investment Opportunity! a well maintained 7-unit apartment building in Redding. Each spacious unit boasts 2 bedrooms, 1 bath, and central HVAC, and each unit comes with a convenient 1-car attached garage. With a excellent gross income of over $75,000 per year with a 6.18% CAP rate, this property provides a lucrative return on investment. PLUS there's upside potential with ample room for rent increases in the coming years, which can increase profits without the need of adding more capital investment. Whether you're a seasoned investor or just starting your real estate journey, this opportunity is not to be missed. Seize the chance to secure a prosperous future.
Directions: HWY 273 to Bransetter go West.
Unit Type
5 or More: 1
Complex: 1
Parking
# Spaces Garage: 7
Off Street: 1
Unit Description
2 Bedroom: 1
All Units Include
Air Conditioner: 1
Cable: 1
Patio: 1
Washer/Dryer Hookups: 1
Ownership
Conservatorship: 1
Available Terms
All Cash to Seller: 1
Cash to New Loan: 1
Expense Data Source
Owner: 1
Possession
Close of Escrow: 1
Photo
Agent Upload: 1
Selling Terms
Cash: 1
Owner Expenses
Water: 1
Garbage: 1
Tenant Expenses
Electric: 1
Gas: 1
Existing Rntl Terms
Month to Month: 1
Unit 1
Unit #: 2124-A
# Bedrooms: 2
# Baths: 1
Rent: 900
Parking: 1 Car Garage
Unit 2
Unit #: 2124-B
# Bedrooms: 2
# Baths: 1
Rent: 900
Parking: 1 Car Garage
Unit 3
Unit #: 2124-C
# Bedrooms: 2
# Baths: 1
Rent: 900
Parking: 1 Car Garage
Unit 4
Unit #: 2124-D
# Bedrooms: 2
# Baths: 1
Rent: 925
Parking: 1 Car Garage
Unit 5
Unit #: 2128-A
# Bedrooms: 2
# Baths: 1
Rent: 900
Parking: 1 Car Garage
Unit 6
Unit #: 2128-B
# Bedrooms: 2
# Baths: 1
Rent: 900
Parking: 1 Car Garage
Unit 7
Unit #: 2128-C
Bed: 2
Bath: 1
Rent: 900
Parking: 1 Car Garage
Contract Information
Status: Closed
List Date: 2023-06-09
Sold Date: 2023-08-04
Under Contract Date: 2023-06-15
Sold Price: $800,000
Property Features
Unit Type: 5 or More; Complex
Parking: Off Street; Off Street
Unit Description: 2 Bedroom
All Units Include: Air Conditioner; Cable; Patio; Washer/Dryer Hookups
Ownership: Conservatorship
Owner Expenses: Garbage; Water
Tenant Expenses: Electric; Gas
Existing Rntl Terms: Month to Month
Expense Data Source: Owner
Available Terms: All Cash to Seller; Cash to New Loan
Possession: Close of Escrow
Photo: Agent Upload
Selling Terms: Cash
IDX
Listing Office: Realty 110, Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.