Current Price:$1,760,005 List Date:4/25/2022Last Modified:2/07/2024
Description
100% Leased Investment - 5 year modified gross lease to private school. 6.25% Cap Rate. The property was improved for the school in 1986 and offers programs from age 2 to age 12. The property consists of two parcels and is improved with a former residential tri-plex that is now used for housing and classrooms. The second parcel is improved with the main building that is 4,534 square feet. Corner location with easy access to all of Redding. The tenant has a superb reputation in the community and has been in operation at this site since 1986. DO NOT DISTURB TENANT OR VISIT PROPERTY WITHOUT CONTACTING BROKER.
More Information MLS# 22-2014
Address Information
Street Number: 1410-1420Street Name: VictorCross Street: Old Alturas AvenueState/Province: CAPostal Code: 96003County: Shasta
Property Description
Current Price: $1,760,005Type: CArea: 02 - NE ReddingList Price: 1875000Parcel Number: 071-260-037 and 038Sq Ft - Building: 8287Sq Ft - Lot: 35283SqFt - Bldg Rentable: 8287SqFt - Bldg Usable: 8287Lot Dim or Acres: 35283GP Zone: RED 10-20 u/a - 10-20 dwelling units per acreZoning: RED - RM - Multiple Family DistrictsYear Built: 1986Year Built Desc: 30+
Remarks
Directions: Located on the south west corner of Old Alturas and Victor.
Contract Information
Status: ClosedSold Date: 2022-06-30Under Contract Date: 2022-05-09Sold Price: $1,760,005List Date: 2022-04-25Commission SO: 3Commission SO Type: %
Addl Lease Info
# Months Remaining: 60# of Tenants: 1
Property Features
Business Type: See RemarksPresent Use: SchoolParking: Off StreetExterior: StuccoRoof: TileLease Term: 3 - 5 YearsLease Type: Modified GrossExpense Data Source: ProjectedFloors: Tile; Wall to Wall CarpetUtilities: Gas; Public Water; Sewer; TelephoneHeat/Cool: Central Air; Central HeatAvailable Terms: All Cash to Seller; Cash; Cash to New LoanPossession: Close of EscrowSelling Terms: Exchange
Listing Office: Haedrich & Co., Inc.
Last Updated: February - 07 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.