Description
100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, all new HVAC mini-splits, new roof, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,461.00/month ($77,532/year) and annual expenses coming in around $23,000/year (including a maintenance reserve), the property provides just over a 6.35% cap rate. Property owners had planned to remodel each unit as there was natural turnover, but only three units have come up since 2021 (units 7 & 8 are fully remodeled). All of the units are 2 bedrooms with 1 bath.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
100% occupied 6-plex for sale in northern Redding, CA with 2 remodeled units, below market rents for the long term tenants, all new HVAC mini-splits, new roof, fresh coat of exterior paint, and close proximity to shopping, transportation, and schools. With current gross monthly rents at $6,461.00/month ($77,532/year) and annual expenses coming in around $23,000/year (including a maintenance reserve), the property provides just over a 6.35% cap rate. Property owners had planned to remodel each unit as there was natural turnover, but only three units have come up since 2021 (units 7 & 8 are fully remodeled). All of the units are 2 bedrooms with 1 bath.
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