$4,200,000
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
Maps
Address Information
Cross Street: Placer
Street Number: 1425
Street Name: Magnolia Ave
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
Type: Residential Income
List Price: 4249000
Parcel Number: 105-310-017-000
Lot Dim or Acres: 22,216
GP Zone: NOT AVAILABLE
Zoning: NOT AVAILABLE
Year Built Desc: Under Construction
Stories: 1
Current Price: $4,200,000
Area: 01 - NW Redding
Subdivision: N/A
Year Built: 1961
Remarks
Public Remarks: 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!
Directions: North on Placer St. turn right on Magnolia.
Unit Type
5 or More: 1
Parking
Off Street: 1
On Street: 1
Unit Description
1 Bedroom: 1
2 Bedroom: 1
All Units Include
Air Conditioner: 1
Cable: 1
Refrigerator: 1
Some Units Include
Balcony/Deck: 1
Patio: 1
Storage: 1
Heating
Heat Pump: 1
Cooling
Heat Pump: 1
Available Terms
All Cash to Seller: 1
Cash to New Loan: 1
Possession
Arrange: 1
Photo
Agent Upload: 1
Selling Terms
Conventional: 1
Existing Rntl Terms
Month to Month: 1
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
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
IDX
Listing Office: Realty 110, Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.
