Bought with Big Valley Properties
$4,200,000
$4,249,000
1.2%For more information regarding the value of a property, please contact us for a free consultation.
1425 Magnolia Ave Redding, CA 96001
Key Details
Sold Price $4,200,000
Property Type Single Family Home
Sub Type Residential Income
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20-3926
Sold Date 12/01/20
Originating Board Shasta Association of REALTORS®
Year Built 1961
Lot Dimensions 22,216
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!
Location
State CA
County Shasta
Direction North on Placer St. turn right on Magnolia.
Interior
Cooling Heat Pump
Exterior
Garage Off Street, On Street
Parking Type Off Street, On Street
Building
Story 1
Level or Stories 1.0
Others
Senior Community No
Tax ID 105-310-017-000
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP