Contacts

Chris Haedrich

Capital Rivers Commercial

Property Details

Property Type Multi-Family
Property Size 4,648 SF
Units 6
Lot Size 0.19 Acre
Additional Rent Contact for pricing
Property Tenancy Multi-Tenant
Year Built 1977
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.100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, all new HVAC mini-splits, new roof, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,461.00/month ($77,532/year) and annual expenses coming in around $23,000/year (including a maintenance reserve), the property provides just over a 6.35% 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 three units have come up since 2021 (units 7 & 8 are fully remodeled). All of the units are 2 bedrooms with 1 bath.

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Highlights

100% occupied 6-plex (all 2 bed/1 bath)
Below market rents,
All HVAC has been replaced throughout with mini-split systems
Units 7 & 8 have been fully remodeled
Low maintenance with new roof, new paint, new HVAC, and little landscaping

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

0.07 miles
Fast Track

0.11 miles
United Gas

0.94 miles
Pacific Pride

1.13 miles
Valero

1.21 miles
Chevron

1.22 miles
ChargePoint

1.32 miles
Fuelgood

1.61 miles
Gas 4 Less

1.70 miles
Tesla Supercharger

2.24 miles

Gold Hills Golf

2.32 miles
Henderson Open Space

2.78 miles
McConnel Foundation public parking

2.79 miles
Visitor and Staff Parking

3.44 miles
North Parking Lot

3.49 miles
South Parking Lot

3.54 miles
East Parking Lot

3.67 miles
Copley Mountain OHV Staging Area

5.69 miles
Clear Creek Road Park & Ride

6.45 miles
China Gardens Trail

7.09 miles

Tiffany House B&B

0.55 miles
Rodeway Inn Redding

0.72 miles
Turtle Bay Lodge

0.72 miles
Value Inn & Suites

0.74 miles
Travelodge Redding

0.75 miles
Best Western Plus: Twin View Inn & Suites

1.19 miles
Comfort Suites Redding

1.27 miles
Motel 6 Redding North

1.30 miles
Fairfield Inn & Suites Redding

1.35 miles
Ramada Limited Redding

1.35 miles

Raley's

0.20 miles
TJ Maxx

1.70 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

1.97 miles
Mt. Shasta Mall

1.98 miles
Foundry Square

1.99 miles

In-Depth Research Available for this Property

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