$562,400
MLS# 17-6085
Status: Closed
11200 sqft
1 / 12
Property Description
RARE OPPORTUNITY TO OWN STORAGE FACILITY AS AN INVESTMENT. RENTS ARE LOW AND CAN EASILY BE RAISED! THE FACILITY WAS BUILT IN 1984 AND IS IN GOOD CONDITIONS. 71 UNITS PLUS A STUDIO APT. 8% AVERAGE VACANCY RATE FOR 2017. BIG MONEY MAKER! THE SALE INCLUDED THE LAND AND THE STORAGE FACILITY. OWNER SPENT AROUND $10,000 ON LEAK PREVENTION ON ROOF. SEE WEBSITE http://branstetter-stor-all.business.si
Details
Address Information
Cross Street: HWY 273
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
List Price: 565900
Parcel Number: 049-180-024-000
Lot Dim or Acres: 1.2
Sq Ft - Building: 11200
Sq Ft - Lot: 52272
GP Zone: AND AG - Agriculture
Zoning: AND - C-1 - General Commercial
Year Built Desc: 30+
Current Price: $562,400
Area: 01 - NW Redding
Year Built: 1984
Remarks
Public Remarks: RARE OPPORTUNITY TO OWN STORAGE FACILITY AS AN INVESTMENT. RENTS ARE LOW AND CAN EASILY BE RAISED! THE FACILITY WAS BUILT IN 1984 AND IS IN GOOD CONDITIONS. 71 UNITS PLUS A STUDIO APT. 8% AVERAGE VACANCY RATE FOR 2017. BIG MONEY MAKER!
THE SALE INCLUDED THE LAND AND THE STORAGE FACILITY. OWNER SPENT AROUND $10,000 ON LEAK PREVENTION ON ROOF.
SEE WEBSITE
http://branstetter-stor-all.business.si
Directions: From downtown Redding take Hwy 273 South towards Anderson, Turn Right into Branstetter Lane.
Business Type
Mini Storage: 1
Present Use
Mini Storage: 1
Exterior
Wood: 1
Roof
Metal: 1
Parking
Off Street: 1
Private: 1
Sale Inclusions
Business: 1
Land: 1
Miscellaneous
Burglar Alarm: 1
Signage: 1
Utilities
Public Water: 1
Sewer: 1
Available Terms
All Cash to Seller: 1
Cash to New Loan: 1
Owner May Carry: 1
Submit: 1
Expense Data Source
Books: 1
Broker Estimate: 1
Owner Actual: 1
Tax Return: 1
Possession
Close of Escrow: 1
Photo
Agent Upload: 1
Selling Terms
Cash: 1
Financial Info
Complete Package: Yes
Gross Income $: 56000
Net Income $: 39500
Cap Rate: 7
Contract Information
Status: Closed
Sold Date: 2018-01-18
Under Contract Date: 2017-12-11
Sold Price: $562,400
List Date: 2017-12-04
Property Features
Business Type: Mini Storage
Present Use: Mini Storage
Parking: Off Street; Private
Sale Inclusions: Business; Land
Exterior: Wood
Roof: Metal
Expense Data Source: Books; Broker Estimate; Owner Actual; Tax Return
Miscellaneous: Burglar Alarm; Signage
Utilities: Public Water; Sewer
Available Terms: All Cash to Seller; Cash to New Loan; Owner May Carry; Submit
Photo: Agent Upload
Possession: Close of Escrow
Selling Terms: Cash
Supplements
ESTIMATED INCOME FOR 2017 GROSS $56,000 (ABOUT $4700 A MONTH IN RENTS) AND NET $39,500 AFTER ALL EXPENSES. 6.9% CAP RATE. 100% OCCUAPNCY WOULD GENERATE ESTIMATED NET INCOME OF $45,000 AND THAT'S WITHOUT RAISING RENTS (7.9% CAP RATE). BIG MONEY MAKER!
IDX
Listing Office: Next Move Realty
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.