Description
100% occupied 6-plex for sale in northern Redding, CA with long term tenants, below market rents, all new HVAC mini-splits in 2021, and close proximity to shopping, transportation, and schools. All units are 1 bed 1 bath with current gross monthly rents at $5,346.00/month ($64/152/year) and annual expenses coming in around $21,695/year (including a maintenance reserve), the property provides just over a 6.2% cap rate. Unit 1 was remodeled in 2022 and the units are rarely vacant. Steady demand in this area of the City. Property owners had planned to remodel each unit as there was natural turnover, but only one unit has come up since 2021 (unit 1 is fully remodeled). Highlights - 100% occupied 6-plex - Below market rents, only one unit turned over since 2021 - All HVAC has been replaced throughout with mini-split systems - Unit 1 is fully remodeled
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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 long term tenants, below market rents, all new HVAC mini-splits in 2021, and close proximity to shopping, transportation, and schools. All units are 1 bed 1 bath with current gross monthly rents at $5,346.00/month ($64/152/year) and annual expenses coming in around $21,695/year (including a maintenance reserve), the property provides just over a 6.2% cap rate. Unit 1 was remodeled in 2022 and the units are rarely vacant. Steady demand in this area of the City. Property owners had planned to remodel each unit as there was natural turnover, but only one unit has come up since 2021 (unit 1 is fully remodeled). Highlights - 100% occupied 6-plex - Below market rents, only one unit turned over since 2021 - All HVAC has been replaced throughout with mini-split systems - Unit 1 is fully remodeled
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