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Two-Home Residential Income Property

704/706 State Street Redding, CA 96001

704/706 State Street, Redding, CA, 96001
$394,000
For Sale
Claim this Listing
$394,000

MULTI_FAMILY - Redding, CA

Property Size1,531 SF
Price / SF$257.35
AddedJul 8
Days on Market8
Last RefreshJul 15 at 2:06 am

Property Features for 704/706 State Street

General Information

Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 4
Standard status
Active
APN
104-350-036-000

Utilities

Cooling system
Central Air

Building Details

Year built
1934
Floors in Building
1
Number of units
2
Building materials
Stucco

Listing agent Faith Barrett License #02057240

Listing office Real Brokerage Technologies 1420 Kettner Blvd. #100, La Mesa, CA

Listing date Jul 8, 2026

MLS# 26-3285 Listing URL

Copyright © 2026 Shasta Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

This residential income property consists of two homes on one lot, offering flexible use as rental units or multi-generational housing. The front home includes 2 bedrooms, 1 bathroom, and a bonus room, with each bedroom having a walk-in closet, plus an attached 2-car carport. Recent updates include new interior and exterior paint, flooring, windows, a water heater, and an updated bathroom with a tiled shower.

The newer back home also offers 2 bedrooms and 1 bathroom, with approximately 719 square feet, a single-car garage, and central heat and air. It features a spacious fenced backyard.

The two separate residences provide a practical setup for an owner seeking two income-producing units on a shared lot.

Key Highlights

  • Two homes on one lot, providing flexible living and rental income potential
  • Front home: 2 bed, 1 bath plus bonus room, with an attached 2‑car carport and approx. 812 sq ft
  • Front home recent updates include new interior/exterior paint, flooring, windows, water heater, and an updated tiled‑shower bath

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $27.4k $17.88
− Vacancy −$1.4k −$0.90
EGI $26.0k $16.98
− OpEx −$7.8k −$5.09
NOI $18.2k $11.89
1,531 SF · lease $17.88/SF/yr · vacancy 5.03% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$260.0K
$227.5K – $303.3K (±1% cap)
NOI $18,198 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$239.2K
$209.3K – $279.1K (±1% cap)
NOI $16,746 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$340.9K
$298.3K – $397.7K (±1% cap)
NOI $23,860 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

(Bike/Boat/Book/etc) Store Locksmith (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Catering Service Veterinary Clinic Plumbing Service

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Duplex - Two dwellings on one lot, including an updated front home and a newer rear home with fenced backyard.
Where is this duplex located?
The property is located at 704/706 State Street Redding, CA.
What is the asking price?
The asking price for this property is $394,000.
What are key features of this property?
This property features: Two homes on one lot, providing flexible living and rental income potential; Front home: 2 bed, 1 bath plus bonus room, with an attached 2‑car carport and approx. 812 sq ft; Front home recent updates include new interior/exterior paint, flooring, windows, water heater, and an updated tiled‑shower bath
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