110 Masonic AveRedding, CA 96003

This exceptional investment opportunity presents a six-unit apartment building located at 110 Masonic Ave, Redding, CA 96003. The property boasts a desirable location in northern Redding, offering convenient access to shopping, transportation, and educational institutions including Bethel School/Church, Simpson University, and Shasta College, all within walking distance thanks to a new sidewalk and bike path under construction. The 3,456 square foot building sits on a 0.19-acre lot (APN 113410020000) and features six one-bedroom, one-bathroom units, currently enjoying 100% occupancy with long-term tenants. All units are equipped with brand new mini-split HVAC systems. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $41,369, resulting in a 6.06% capitalization rate. Current gross monthly rents total $5,221 ($62,652 annually), while annual expenses, including a maintenance reserve, approximate $21,280. While the owners had planned to remodel units as they became vacant, only one unit (unit 1) has turned over since 2021 and has been fully remodeled. Below-market rents present a significant opportunity to increase profitability. This well-maintained property offers a compelling investment prospect with substantial potential for future growth and appreciation. The asking price is $681,000.