$914,000 Price Analysis    ♡   Redding, CA 96003 Unknown bed 0 bath unknown SqFt ($0/SqFt) 8,276SqFt lot. Built 1977 Listed 2024-07-10, Taxes $3,271 | Ⓧ USDA Ineligible due to price & location near Redding |
100% occupied 6-plex for sale in northern Redding
CA with 2 remodeled units, below market rents for the long term tennts, 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 over a 6.5% cap rate.
And with Bethel School/Church 1.8 miles to the east and a new sidewalk and 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 three units have come up since 2021 (units 2, 5 and 6 are fully remodeled). All of the u nits are 2 bedrooms with 1 bath.
Presented by Chris Haedrich at
Capital Rivers Commercial.
Property MLS #24-3009 from ShastaCounty
Lot Size Dimensions: 0.19
Lot Size Square Feet: 8276
Calculated Total Monthly Association Fees: 0
County: Shasta
Directions: 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.
Source Property Type: Residential Income
Area: 01 - NW Redding
MLS Area Minor: 01 - NW Redding
Parcel Number: 113340009000
Property Subtype: Residential Income
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $202,878 + $83,232 $286,110 | $3,271 |
| 2022 | $198,900 + $81,600 $280,500 | $3,187 |
| 2021 | $43,133 + $85,031 $128,164 | $1,497 |
| 2020 | $42,691 + $84,160 $126,851 | $1,490 |
| 2019 | $41,854 + $82,510 $124,364 | $1,446 |
| 2018 | $41,034 + $80,893 $121,927 | $1,445 |
| 2017 | $21,637 + $80,184 $101,821 | $1,225 |
| 2016 | $21,213 + $78,612 $99,825 | $1,174 |
| 2015 | $20,895 + $77,432 $98,327 | $1,151 |
| 2014 | $20,486 + $75,916 $96,402 | $1,158 |
| 2013 | $101,966 + $113,962 $215,928 | $2,278 |
| 2012 | $99,967 + $111,728 $211,695 | $2,318 |
| 2011 | $98,007 + $109,538 $207,545 | $2,302 |
| 2010 | $97,275 + $108,720 $205,995 | $2,198 |
| 2009 | $97,507 + $108,979 $206,486 | $2,203 |
| 2008 | $95,596 + $106,843 $202,439 | $2,128 |
| 2007 | $93,722 + $104,749 $198,471 | $2,093 |
$914,000
ShastaCounty
Listed 2024-07-10
$944,000
ShastaCounty
Sold 2021-06-08
$2,635,000
Public Record
Sold 2002-04-04
$190,000
Public Record
Property Age: 47
Map directions Map directions
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.