Two-Home Residential Income
704/706 State Street Redding, CA 96001
704/706 State Street, Redding, CA, 96001
$394,000
For Sale
$394,000
MULTI_FAMILY - Redding, CA
Property Size1,531 SF
Price / SF$257.35
Days on Market11
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 Agency
Real Brokerage Technologies
(855) 450-0442
1420 Kettner Blvd. #100, La Mesa, CA
Listed by
Faith Barrett · License #02057240
(530) 339-1788
Added: Jul 8 Checked: Jul 18 at 7:06 pm
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.
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
NOI $18,198 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$239.2K
$209.3K – $279.1K
NOI $16,746 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$340.9K
$298.3K – $397.7K
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
Similar For Sale Nearby
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
