140 Masonic Ave Redding, CA 96003

This exceptional investment opportunity presents a 6-unit apartment building located at 140 Masonic Ave, Redding, CA 96003. The property, built in 1977 and extensively renovated in 2023, boasts a total of 4,768 square feet on a 0.19-acre lot. The building features two stories and is situated in a desirable location close to shopping, transportation, and educational institutions including Bethel School/Church, Simpson University, and Shasta College. Currently operating at 100% occupancy, the property comprises six 2-bedroom, 1-bathroom units, generating a substantial net operating income (NOI) of $59,623 annually, representing a 6.52% capitalization rate. Recent improvements include a new roof, fresh exterior paint, and the complete replacement of all HVAC systems with energy-efficient mini-split units. Units 2, 5, and 6 have undergone full renovations. Below-market rents for long-term tenants offer significant upside potential. Additional income is generated from laundry facilities, averaging approximately $1,300 annually. Annual expenses, including a maintenance reserve, are approximately $23,500. The property is zoned GC - General Commercial and has APN numbers 113340009000 & 113340008000. This turnkey investment offers a compelling combination of strong cash flow, attractive location, and recent upgrades, making it an ideal addition to any portfolio. The current gross monthly rent is $6,820.