130 Masonic Ave Redding, CA 96003-2519

Property Details for 130 Masonic Ave

Lot size

0.10 lot acres

Property type

Apartment buildings

APN

113-410-009-000

APU

113410009000

Description

This exceptional investment opportunity presents a meticulously maintained six-unit apartment building located at 130 Masonic Avenue in Redding, California. The property boasts a desirable location in northern Redding, close to shopping, transportation, and educational institutions including Bethel School/Church, Simpson University, and Shasta College, ensuring consistent tenant demand. Built in 1977 and extensively renovated in 2023, this two-story building comprises 4,648 square feet on a 0.19-acre lot. All six units are two-bedroom, one-bathroom apartments, currently enjoying 100% occupancy. Recent upgrades include a new roof, fresh exterior paint, and the complete replacement of all HVAC systems with energy-efficient mini-split units. Two units have undergone full renovations, showcasing the potential for further value enhancement through planned unit upgrades as vacancies occur. The property currently generates a gross annual income of $77,532, with annual expenses estimated at $23,000, resulting in a compelling cap rate of 6.36%. The property is zoned GC - General Commercial and features APN numbers 113410010000 & 113410009000. This turnkey investment offers a blend of immediate income and long-term growth potential, making it an attractive addition to any portfolio. Below-market rents for long-term tenants provide further upside potential. The property's proximity to new infrastructure, including a sidewalk and bike path currently under construction, further enhances its appeal and future value.

Location Insight

City

Redding

County

Shasta

State

California

Longitude

-122.381

Latitude

40.6091

CBSA code

39820

CBSA name

REDDING, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments