140 Masonic Avenue

For Sale

140 Masonic Ave, Redding, CA 96003

This Redding property for sale is located at 140 Masonic Ave. The current listed sale price for 140 Masonic Avenue is $914,000. 140 Masonic Avenue is situated on a lot that is 0.19 acre in size.

Contacts

broker

Chris Haedrich

Capital Rivers Commercial

Property Details

  • Property Type Multi-Family
  • Property Size 4,768 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 Oct 24, 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, new roof, all new HVAC mini-splits, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,820.00/month ($81,840/year), additional laundry income averaging around $1,300/year, and annual expenses coming in around $23,500/year (including a maintenance reserve), the property provides just over a 6.5% 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 2, 5 & 6 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 2, 5 & 6 have been fully remodeled
  • Truly low maintenance with new roof, paint, HVAC and little landscaping

Attachments

Getting around

  • 54/100

    Walk Score ®

  • 25/100

    Transit Score ®

  • 51/100

    Bike Score ®

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Location

  • City Redding, CA
  • Zip Code 96003

Points of Interest

  • Arco

    0.09 miles

  • Fast Track

    0.13 miles

  • United Gas

    0.92 miles

  • Pacific Pride

    1.15 miles

  • Valero

    1.23 miles

  • Chevron

    1.24 miles

  • ChargePoint

    1.30 miles

  • Fuelgood

    1.59 miles

  • Gas 4 Less

    1.68 miles

  • Tesla Supercharger

    2.23 miles

  • Gold Hills Golf

    2.34 miles

  • Henderson Open Space

    2.76 miles

  • McConnel Foundation public parking

    2.80 miles

  • Visitor and Staff Parking

    3.46 miles

  • North Parking Lot

    3.51 miles

  • South Parking Lot

    3.55 miles

  • East Parking Lot

    3.69 miles

  • Copley Mountain OHV Staging Area

    5.70 miles

  • Clear Creek Road Park & Ride

    6.43 miles

  • China Gardens Trail

    7.08 miles

  • Tiffany House B&B

    0.53 miles

  • Rodeway Inn Redding

    0.70 miles

  • Turtle Bay Lodge

    0.70 miles

  • Value Inn & Suites

    0.72 miles

  • Travelodge Redding

    0.73 miles

  • Best Western Plus: Twin View Inn & Suites

    1.21 miles

  • Comfort Suites Redding

    1.29 miles

  • Motel 6 Redding North

    1.32 miles

  • Fairfield Inn & Suites Redding

    1.37 miles

  • Ramada Limited Redding

    1.37 miles

  • Raley's

    0.22 miles

  • TJ Maxx

    1.70 miles

  • Trader Joe's

    1.73 miles

  • Dollar General Market

    1.77 miles

  • Kohl's

    1.80 miles

  • Macy's

    1.90 miles

  • Sprouts Farmers Market

    1.91 miles

  • Mount Shasta Mall

    1.97 miles

  • Mt. Shasta Mall

    1.97 miles

  • Foundry Square

    1.97 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Chris Haedrich

Capital Rivers Commercial