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Sold on 05/19/2025
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  • Exterior
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  • Kitchen
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  • Bedroom
  • Bath

120 Masonic Ave, Redding, CA 96003

  • $716,000

    Last sold 05/19/2025 after 314 Days

  • —

    bed

  • —

    bath

Multi-family not for sale
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About 120 Masonic Ave

Property type Multi-family
Neighborhood
Year built 1977
HOA fee $0/month
Rental estimate
Property description
100% occupied 5-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits, brand new roof, freshly painted exterior, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $5,943.00/month ($68,316.00/year), laundry income averaging around $3,000/year, and annual expenses coming in around $27,875/year (including a maintenance reserve), the property provides just over a 6.1% cap rate. Property includes laundry room with laundry income. Unit 5 interior has been fully remodeled and unit 3 is a 2-story 3 bedroom/2.5 bath apartment with indoor laundry. Highlights - 100% occupied 5-plex (with one 3 bedroom/2.5 bath unit) - Below market rents - All HVAC has been replaced throughout with mini-split systems - Unit 5 is fully remodeled - Includes income from onsite laundry - Low maintenance with new roof, new paint, new HVAC, and little landscaping
Listed by
Listing Agent - Chris Haedrich
Listing Office - Capital Rivers Commercial
Source: Shasta Association of REALTORS® mls logo
MLS#24-2993 • last updated 1 year ago
Movoto checked Shasta Association of REALTORS® for data 11 minutes ago
Overview
Levels/Style 2
MLS # 24-2993
SubType Residential Income
Status Closed
Year Built 1977
Interior
Exterior
Parking Off Street
Location
APN 113410021000
Zoning RED - C-2 - Central Commericial District
Directions Well Located Apartment Complex Directly Across Lake Blvd From Raley's Shopping Center. From I-5 Take The HWY 299/Lake Blvd Exit; Head West On Lake Blvd; Turn Left (south) On Masonic Avenue; On Right.
Multifamily Details
Total # of Units 5
Community Information
Area 1 - NW Redding
Rental est.: $1,519/month
Gross rent multiplier: 39.0
  • May 2025
    mls logo MLS # 24-2993
  • May 19, 2025 Sold
    $716,000 (+0.7%)
  • Dec 6, 2024 Pending
    —
  • Aug 5, 2024 Price Change
    $711,000 (-4.7%)
  • Jul 9, 2024 Listed
    $746,000
  • 120 Masonic Ave
    $716K
  • Sulphur Creek Hill
    —
  • 96003
    $434K -3% y/y
  • Redding
    $450K -1% y/y
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