3980 Churn Crk Rd, Redding, CA 96002 (MLS# 22-3408)

$4,900,000

3980 Churn Crk Rd
Redding, CA 96002
MLS# 22-3408
Status: Closed

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Property Description
46 Unit Apartment Complex in Redding has been owner managed for over 17 years. Owners have taken pride in ownership and the property has been very well maintained. The property is comprised of (12) 1 Bedroom Units, (33) 2 Bedroom Units & (1) 3 Bedroom Unit, 13 Private Garages, Plus a Swimming Pool and Coin-Operated Laundry Room. Units features energy efficient dual pane windows, 18,000 btu AC's, garbage disposals and a spacious layout. The rental market in Redding is strong and these properties rarely come to market. Annual Gross income comes in just over $321,000 providing a 5.83% Cap Rate with nice upside potential in rental rate increases. Please do not disturb tenants.

Details

Address Information

Street Number: 3980

Street Name: Churn Crk Rd

Cross Street: Loma Vista

State/Province: CA

Postal Code: 96002

County: Shasta

Property Description

Current Price: $4,900,000

Type: Residential Income

Area: 03 - SE Redding

List Price: 5520000

Subdivision: N/A

Parcel Number: 068-200-035-000

Lot Dim or Acres: 59677

GP Zone: NOT AVAILABLE

Zoning: NOT AVAILABLE

Stories: 2

Year Built: 1981

Year Built Desc: 30+

Remarks

Directions: Churn Creek South of Cypress, on the Corner of Churn Creek & Loma Vista.

Contract Information

Status: Closed

List Date: 2022-07-06

Sold Date: 2022-10-14

Under Contract Date: 2022-08-01

Sold Price: $4,900,000

Commission SO: 2.5

Commission SO Type: %

Property Features

Unit Type: 5 or More; Complex

Exterior: Stucco

Parking: Off Street

Unit Description: 1 Bedroom; 2 Bedroom; 3 + Bedroom

All Units Include: Air Conditioner; Cable

Heating: Heat Pump

Cooling: Heat Pump

Ownership: Seller

Tenant Expenses: Cable; Electric

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

Possession: Close of Escrow

Photo: Agent Upload

Selling Terms: Conventional

Listing Office: Realty 110, Inc.

Co Office Name: Realty 110, Inc.

Co Listing Agent: Kimberly Hale

Last Updated: January - 13 - 2023

3980 Churn Crk Rd, Redding, CA 96002 - MLS# 22-3408

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.