120 Masonic Ave Redding, CA 96003-2520

This exceptional 5-unit apartment building, located at 120 Masonic Ave in Redding, CA, presents a compelling investment opportunity. Built in 1977 and extensively renovated in 2023, this two-story property boasts 4,768 square feet on a 0.19-acre lot (APN: 113410021000). Currently operating at 100% occupancy, the property generates a strong NOI of $43,441, yielding a 6.11% cap rate based on the $711,000 asking price. Recent upgrades include a brand-new roof, fresh exterior paint, and the complete replacement of all HVAC systems with energy-efficient mini-splits. The property features a mix of unit sizes, including a desirable three-bedroom, two-and-a-half-bathroom unit, and includes a laundry room generating supplemental income averaging $3,000 annually. Unit 5 has undergone a full interior remodel. Below-market rents offer significant upside potential. The property's prime location near Bethel School/Church, Simpson University, and Shasta College ensures consistent tenant demand and proximity to shopping and transportation. The General Commercial (GC) zoning provides flexibility for future uses. Annual expenses, including a maintenance reserve, are approximately $27,875. Current gross monthly rent is $5,943. This is a turnkey investment ready for immediate income generation.