1369 Spruce St - Apartments FOR SALE


Redding, CA 96001
$880,000 USD
916-204-9804
1369 Spruce St, Redding, CA for Sale
$880,000 USD
Apartments - FOR SALE
1/14
null | 7.39% Cap Rate

1369 Spruce St
Redding, CA 96001


HIGHLIGHTS

  • Diverse Unit Mix: Three-Unit Building With 2-1Bds and 1 Studio, A Fourplex With 4 Studios, And Four Individual Private Cottages, 3-1BDs & 1-2BD
  • Additional Income: Includes 4 One-Car Garages For Added Rental Income
  • On-Site Laundry: Attractive Amenity For Residents & Additional Income For Owner
  • Strong Rental Demand: Attractive To A Variety Of Tenants, Providing Steady Cash Flow Potential
  • Prime Location: Located On A 0.41-Acre Lot, Offering A Private Community Feel

OVERVIEW

The Heitzeberg Group of Marcus & Millichap is pleased to present The Villa Apartments, a unique multi-unit property offering a diverse mix of residential units in a well established community setting. Situated on a spacious 0.41-acre lot, this property consists of a combination of apartments, cottages, and garages, all within their own private space. This diverse unit configuration presents an excellent opportunity for investors looking for steady rental income with future growth potential. With a population of around 92,000, Redding is the largest city in Shasta County and a key regional hub in Northern California. Located approximately 150 miles north of Sacramento at the northern end of the Sacramento Valley, the city is positioned near the confluence of the Sacramento and Keswick Rivers. Its strategic location makes it a gateway to outdoor recreational areas like Shasta- Trinity National Forest and Lassen Volcanic National Park, which are popular for activities such as hiking and boating. The city’s economy is diverse, with significant employment provided by Shasta Regional Medical Center and the Redding School District. Additionally, Redding has a growing presence in tourism and outdoor recreation, leveraging its proximity to attractions like Shasta Lake and the Trinity Alps. This blend of economic activities and natural beauty underscores Redding's role as both a residential and tourist destination in Northern California. With a well-rounded unit mix and the benefit of a private community, Villa Apartments offers a compelling investment opportunity at just $80,000 per unit with positive cash flow from day one!

FOR SALE DETAILS

PRICE

$880,000 USD

PRICE/SF

$198 USD /SF

# OF UNITS

11

PRICE/UNIT

$80,000

CAP RATE

7.39%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Villa Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

-

APN/PARCEL ID

104-010-009

ASK ABOUT THIS PROPERTY

Isaak HeitzebergMarcus and Millichap Investment ServicesMore Info
916-204-9804

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Isaak HeitzebergMarcus and Millichap Investment ServicesMore Info
916-204-9804

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.