1425 Magnolia Ave, Redding, CA 96001
$4,200,000
Property Type:
Residential Income
Status:
Closed
Current Price:
$4,200,000
List Date:
8/12/2020
Last Modified:
8/31/2024
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!
More Information MLS# 20-3926
Address Information
Street Number: 1425
Street Name: Magnolia Ave
Cross Street: Placer
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
Current Price: $4,200,000
Type: Residential Income
Area: 01 - NW Redding
List Price: 4249000
Subdivision: N/A
Parcel Number: 105-310-017-000
Lot Dim or Acres: 22,216
GP Zone: NOT AVAILABLE
Zoning: NOT AVAILABLE
Stories: 1
Year Built: 1961
Year Built Desc: Under Construction
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.
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
Listing Office: Realty 110, Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.