1425 Magnolia Ave, Redding, CA 96001 (MLS# 20-3926)

$4,200,000

1425 Magnolia Ave
Redding, CA 96001
MLS# 20-3926
Status: Closed

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Property Description
The Magnolia 36 is a unique TURN-KEY asset that provides an attractive apartment unit located in the heart of Redding. Downtown is embarking on a major redevelopment with over $200,000,000 in improvements all which are walking distance to Magnolia. The recent professional FULL Interior & Exterior high-end renovation features Luxury Vinyl Flooring, Plush Carpeting, Hotel-Style Bathrooms, Kitchens with New Cabinets, Appliances & Granite Counters. All units have new HVAC, New Windows & LED Lighting. The grounds include a HUGE laundry room & resort style pool with BBQ area. Added improvements: New Roof, New Sealed & Striped Parking Lots, New Siding, New Patios, New Doors, New full Paint Work. Over $450,000 in potential annual gross income providing an VERY attractive 7.6% CAP Rate!

Details

Address Information

Street Number: 1425

Street Name: Magnolia Ave

Cross Street: Placer

State/Province: CA

Postal Code: 96001

County: Shasta

Property Description

Current Price: $4,200,000

Type: Residential Income

Area: 01 - NW Redding

List Price: 4249000

Subdivision: N/A

Parcel Number: 105-310-017-000

Lot Dim or Acres: 22,216

GP Zone: NOT AVAILABLE

Zoning: NOT AVAILABLE

Stories: 1

Year Built: 1961

Year Built Desc: Under Construction

Remarks

Directions: North on Placer St. turn right on Magnolia.

Contract Information

Status: Closed

List Date: 2020-08-12

Sold Date: 2020-12-01

Under Contract Date: 2020-09-22

Sold Price: $4,200,000

Commission SO: 2

Commission SO Type: %

Property Features

Unit Type: 5 or More

Parking: Off Street; On Street

Unit Description: 1 Bedroom; 2 Bedroom

All Units Include: Air Conditioner; Cable; Refrigerator

Some Units Include: Balcony/Deck; Patio; Storage

Heating: Heat Pump

Cooling: Heat Pump

Existing Rntl Terms: Month to Month

Available Terms: All Cash to Seller; Cash to New Loan

Possession: Arrange

Photo: Agent Upload

Selling Terms: Conventional

Listing Office: Realty 110, Inc.

Last Updated: February - 01 - 2023

1425 Magnolia Ave, Redding, CA 96001 - MLS# 20-3926

The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Information deemed reliable but not guaranteed.