140 Masonic Avenue

140 Masonic Ave, Redding, CA 96003

  • For Sale $914,000
  • 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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Attachments

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

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

  • 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

  • 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

  • Subway

    0.22 miles

  • Turtle Bay School

    0.84 miles

  • Rocky Point School

    1.36 miles

  • Health Sciences

    1.74 miles

  • University Center

    1.75 miles

  • 9000;Shasta College Community Leadership Center

    1.75 miles

  • Sequoia Middle School

    1.78 miles

  • Buckeye Elemtary School

    1.91 miles

  • University Preparatory School

    2.01 miles

  • Boulder Creek Elementary School

    2.02 miles

  • Shasta High School

    2.11 miles

Frequently Asked Questions

How much does 140 Masonic Avenue cost?

The space currently listed for sale at 140 Masonic Avenue asks for $914,000.

What is the total square footage of 140 Masonic Avenue?

140 Masonic Avenue totals 4,768 square feet.

When was this property built?

140 Masonic Avenue was built in 1977.

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Contact Listing Broker

broker

Chris Haedrich

Capital Rivers Commercial