140 Masonic Ave, Redding, CA 96003

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 $6,875.00/month ($82,500/year), additional laundry income averaging around $1,300/year, and annual expenses coming in around $24,745/year (including a maintenance reserve), the property provides just over a 6.45% cap rate. Units 2, 5 & 6 were fully remodeled in 2021. All of the units are 2 bedrooms with 1 bath. 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.