1314 Olive Ave, Redding, CA 96001
$550,000
Property Type:
Residential Income
Status:
Closed
Current Price:
$550,000
List Date:
1/19/2024
Last Modified:
8/31/2024
Description
Thoroughly renovated triplex in the heart of West Redding just 5 mins from both major hospitals. Currently generating $48,000 in annual gross income with unfurnished units and long-term tenants. Renovations include a new roof, new windows & mini-splits throughout, complete interior & exterior paint, as well as brand new nu-flo sewer lines from the units all the way to the street. Higher-end design features include: luxury vinyl plank floors, brand new Meek's cabinets, corian countertops, counter-to-ceiling tile backsplash, new stainless steel appliances, plus recessed lighting throughout.
More Information MLS# 24-341
Address Information
Cross Street: Shasta St
Street Number: 1314
Street Name: Olive Ave
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
Type: Residential Income
List Price: 599000
Parcel Number: 105-130-005-000
GP Zone: NOT AVAILABLE
Zoning: NOT AVAILABLE
Year Built Desc: 30+
Stories: 2
Current Price: $550,000
Area: 01 - NW Redding
Subdivision: N/A
Year Built: 1950
Remarks
Public Remarks: Thoroughly renovated triplex in the heart of West Redding just 5 mins from both major hospitals. Currently generating $48,000 in annual gross income with unfurnished units and long-term tenants. Renovations include a new roof, new windows & mini-splits throughout, complete interior & exterior paint, as well as brand new nu-flo sewer lines from the units all the way to the street. Higher-end design features include: luxury vinyl plank floors, brand new Meek's cabinets, corian countertops, counter-to-ceiling tile backsplash, new stainless steel appliances, plus recessed lighting throughout.
Directions: From Hwy 44 & I-5, head West on Hwy 44 into downtown Redding. Stay on hwy 44 as it turns into shasta st. downtown. Turn L on Olive St. Property is on the right.
Contract Information
Listing Contract Date: 2024-01-19
Status: Closed
List Date: 2024-01-19
Sold Date: 2024-03-15
Under Contract Date: 2024-02-13
Sold Price: $550,000
How to Show
LBX Notice in Doc's: Yes
Unit Type
Triplex: 1
Sub Zoning
Non Conforming: 1
Exterior
Wood: 1
Parking
Assigned: 1
Off Street: 1
On Street: 1
Unit Description
1 Bedroom: 1
2 Bedroom: 1
Miscellaneous
Lawn Sprinklers: 1
Laundry in Complex: 1
Smoke Detectors: 1
All Units Include
Refrigerator: 1
Storage: 1
Some Units Include
Patio: 1
Ownership
Seller: 1
Heating
Forced Air: 1
Cooling
Central: 1
Available Terms
All Cash to Seller: 1
Cash: 1
Subj to Inspection: 1
Expense Data Source
Estimate: 1
Owner: 1
Projected: 1
Possession
Close of Escrow: 1
Photo
Agent Upload: 1
Selling Terms
Conventional: 1
Owner Expenses
Electric: 1
Insurance: 1
Bldg/Grnds Mnt: 1
Bldg/Grnds Mnt $ Amt: 100
Water: 1
Electric $ Amount: 20
Insurance $ Amount: 163
Real Estate Tax: 1
RE Tax $ Amount: 138.1
Water $ Amount: 45
Financial Info
Complete Package: No
Gross Income $: 48000
Operating Expenses $: 6500
Net Income $: 41500
Cap Rate: 6
Tenant Expenses
Cable: 1
Electric: 1
Garbage: 1
Gas: 1
Existing Rntl Terms
Lease: 3
Written Lease: Yes
Deposit Held: 1
Deposit $ Amount: 5350
Unit 1
Unit #: 1314 Olive Ave.
# Bedrooms: 1
# Baths: 1
Rent: 1250
Deposit: 1550
SqFt: 600
Parking: Off-alley in back
Lease: Ends 7/24
Stories: upstairs
Remarks: no pets
Unit 2
Unit #: 1316 Olive Ave.
# Bedrooms: 1
# Baths: 1
Rent: 1250
Deposit: 1450
SqFt: 600
Parking: Street
Lease: Ends 07/24
Stories: 1
Remarks: no pets
Unit 3
Unit #: 1318 Olive Ave.
# Bedrooms: 2
# Baths: 1
Rent: 1500
Deposit: 2350
SqFt: 700
Parking: Dedicated Driveway
Lease: 07/24
Remarks: pet rent / pet dep.
Property Features
Unit Type: Triplex
Sub Zoning: Non Conforming
Exterior: Wood
Parking: Assigned; Off Street; On Street
Unit Description: 1 Bedroom; 2 Bedroom
All Units Include: Refrigerator; Storage
Some Units Include: Patio
Heating: Forced Air
Cooling: Central
Miscellaneous: Lawn Sprinklers; Laundry in Complex; Smoke Detectors
Ownership: Seller
Owner Expenses: Bldg/Grnds Mnt; Electric; Insurance; Real Estate Tax; Water
Tenant Expenses: Cable; Electric; Garbage; Gas
Existing Rntl Terms: Deposit Held
Expense Data Source: Estimate; Owner; Projected
Available Terms: All Cash to Seller; Cash; Subj to Inspection
Possession: Close of Escrow
Photo: Agent Upload
Selling Terms: Conventional
Listing Office: Upward Realty
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.