110, 120, 130, 140 Masonic Avenue

110, 120, 130, 140 Masonic Ave, Redding, CA 96003

  • For Sale $3,165,000
  • Property Type Multi-Family
  • Property Size 17,640 SF
  • Units 23
  • Lot Size 0.76 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Multi-Tenant
  • Year Renovated 2023
  • Date Updated Aug 14, 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 23-unit apartment complex for sale in northern Redding, CA on 4 separate adjacent parcels with long term tenants, below market rents, all new HVAC mini-splits, 3 of 4 buildings have new roofs, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. There are 6 x 1 Bed/1 Bath units, 16 x 2 Bed/1 Bath units, 1 x 3 Bed/2.5 Bath unit, and 7 of the 23 units have been remodeled in the past year. Current gross monthly rents are at $24,195.00/month ($290,340.00/year) with additional laundry income adding approximately $4,300/year, and annual expenses coming in around $95,730/year (including a maintenance reserve), the property provides just under a 6.3% cap rate with existing income & expenses. Bringing the rents to market increases the proforma cap rate to 7.0%. 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.

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Attachments

Highlights

  • 100% occupied 23 unit apartment complex on 4 separate adjacent properties
  • Below market rents, and 7 of the units have been remodeled
  • All HVAC has been replaced throughout with mini-split systems
  • 6.28% cap rate on existing income & expenses with 7.0% cap on market rent proforma
  • Gross rent multiplier at 11.3 on existing income and 10.4 on market rents

Contacts

broker

Chris Haedrich

Capital Rivers Commercial

Location

Getting Around

  • Walk Score ®

    54/100 Somewhat Walkable

  • Transit Score ®

    25/100 Some Transit

  • Bike Score ®

    51/100 Bikeable
Powered by Walk Score ®
  • 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

  • Valero

    1.57 miles

  • Fuelgood

    1.59 miles

  • Gas 4 Less

    1.68 miles

  • Valero

    1.73 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

  • Clear Creek Road Park & Ride

    6.43 miles

  • China Gardens Trail

    7.08 miles

  • Whiskeytown National Recreation Area Visitors Center Lot

    7.33 miles

  • Tiffany House B&B

    0.53 miles

  • Rodeway Inn Redding

    0.70 miles

  • Turtle Bay Lodge

    0.70 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

  • Sheraton Redding at Sundial Bridge

    1.38 miles

  • Round Table Pizza

    0.05 miles

  • Panda South Chinese Restaurant

    0.07 miles

  • McDonald's

    0.11 miles

  • Little Caesars

    0.11 miles

  • Carl's Jr.

    0.14 miles

  • Popeyes

    0.15 miles

  • Papa Murphy's

    0.20 miles

  • Kampi Sushi

    0.21 miles

  • Fresh Fire Grill

    0.22 miles

  • Bartels Giant Burger

    0.37 miles

  • Turtle Bay School

    0.84 miles

  • Rocky Point School

    1.35 miles

  • Health Sciences

    1.74 miles

  • University Center

    1.75 miles

  • Sequoia Middle School

    1.78 miles

  • Buckeye Elemtary School

    1.91 miles

  • Boulder Creek Elementary School

    2.01 miles

  • University Preparatory School

    2.01 miles

  • Shasta High School

    2.11 miles

  • Pioneer High School

    2.12 miles

Frequently Asked Questions

How much does 110, 120, 130, 140 Masonic Avenue cost?

The space currently listed for sale at 110, 120, 130, 140 Masonic Avenue asks for $3,165,000.

What is the total square footage of 110, 120, 130, 140 Masonic Avenue?

110, 120, 130, 140 Masonic Avenue totals 17,640 square feet.

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Contact Listing Broker

broker

Chris Haedrich

Capital Rivers Commercial