Contacts

Chris Haedrich

Capital Rivers Commercial

Property Details

Property Type Multi-Family
Property Size 3,456 SF
Units 6
Lot Size 0.19 Acre
Additional Rent Contact for pricing
Property Tenancy Multi-Tenant
Year Built 1978
Year Renovated 2023
Date Updated Dec 11, 2024

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; property is on the right.All units are 1 bed 1 bath. 100% occupied 6-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,221.00/month ($62,652/year) and annual expenses coming in around $21,280/year (including a maintenance reserve), the property provides just over a 6.0% 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 owners had planned to remodel each unit as there was natural turnover, but only one unit has come up since 2021 (unit 1 is fully remodeled).

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Highlights

100% occupied 6-plex
Below market rents, only one unit turned over since 2021
All HVAC has been replaced throughout with mini-split systems
Unit 1 is fully remodeled

Attachments

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Getting around

54/100
Walk Score ®
25/100
Transit Score ®
51/100
Bike Score ®

Powered by Walk Score ®

City Redding, CA
Zip Code 96003

Points of Interest

Arco

0.03 miles
Fast Track

0.07 miles
United Gas

0.98 miles
Pacific Pride

1.09 miles
Valero

1.18 miles
Chevron

1.19 miles
ChargePoint

1.34 miles
Fuelgood

1.64 miles
Tesla Supercharger

2.25 miles

Gold Hills Golf

2.28 miles
McConnel Foundation public parking

2.77 miles
Henderson Open Space

2.80 miles
Visitor and Staff Parking

3.41 miles
North Parking Lot

3.46 miles
South Parking Lot

3.50 miles
East Parking Lot

3.64 miles
Copley Mountain OHV Staging Area

5.70 miles
Clear Creek Road Park & Ride

6.48 miles
China Gardens Trail

7.12 miles

Tiffany House B&B

0.58 miles
Rodeway Inn Redding

0.75 miles
Turtle Bay Lodge

0.76 miles
Value Inn & Suites

0.77 miles
Travelodge Redding

0.78 miles
Best Western Plus: Twin View Inn & Suites

1.15 miles
Comfort Suites Redding

1.24 miles
Motel 6 Redding North

1.26 miles
Fairfield Inn & Suites Redding

1.31 miles
Ramada Limited Redding

1.32 miles

Raley's

0.17 miles
TJ Maxx

1.71 miles
Trader Joe's

1.73 miles
Dollar General Market

1.77 miles
Kohl's

1.81 miles
Macy's

1.90 miles
Sprouts Farmers Market

1.92 miles
Mount Shasta Mall

1.98 miles
Mt. Shasta Mall

1.98 miles
JCPenney

2.01 miles

In-Depth Research Available for this Property

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