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2164-2176 Placer St 5 Unit Apartment Building $799,000 ($159,800/Unit) 7.15% Cap Rate Redding, CA 96001
INVESTMENT HIGHLIGHTS
- Motivated Seller!
- Priced Over $100,000 below 2024 Appraisal
- HUGE Upside with Short-Term Rentals
EXECUTIVE SUMMARY
HUGE Price reduction! Over $100,000 below previous appraised value! Opportunity is knocking and the savvy investor is going to jump on this rare chance to own a distinctive multi-family property right in the heart of downtown Redding. This fully updated property features four turn-key apartments with covered parking, plus a charming 3-bedroom, 1-bath home. Live in the house while generating rental income from the apartments, or lease all units for maximum cash flow. Thoughtfully renovated inside and out with modern finishes and new windows, this income-producing property is currently fully occupied with room for upside potential CASH FLOW! Options include Short-Term Rental (AirBnB) or Traveling Nurses/Medical Professionals.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$70,080
|
$15.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$70,080
|
$15.54
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$18,916
|
$4.19
|
| Net Operating Income |
$51,164
|
$11.34
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $70,080 |
| Annual Per SF | $15.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $70,080 |
| Annual Per SF | $15.54 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $18,916 |
| Annual Per SF | $4.19 |
| Net Operating Income | |
|---|---|
| Annual | $51,164 |
| Annual Per SF | $11.34 |
PROPERTY FACTS
| Price | $799,000 | Apartment Style | Low-Rise |
| Price Per Unit | $159,800 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 7.15% | Building Size | 4,511 SF |
| Gross Rent Multiplier | 11.4 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1936/2024 |
| Property Subtype | Apartment | ||
| Zoning | 5-12 family units - Residential. Apartments. | ||
| Price | $799,000 |
| Price Per Unit | $159,800 |
| Sale Type | Investment |
| Cap Rate | 7.15% |
| Gross Rent Multiplier | 11.4 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 4,511 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1936/2024 |
| Zoning | 5-12 family units - Residential. Apartments. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Kitchen
- Yard
- Window Coverings
- Large Bedrooms
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $972.50 | 650 |
| 2+1 | 1 | $1,050 | 750 |
| 3+1 | 2 | $1,423 | 1,000 - 1,400 |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 105-340-009-000 | Improvements Assessment | $806,310 (2025) |
| Land Assessment | $156,060 (2025) | Total Assessment | $962,370 (2025) |
PROPERTY TAXES
Parcel Number
105-340-009-000
Land Assessment
$156,060 (2025)
Improvements Assessment
$806,310 (2025)
Total Assessment
$962,370 (2025)
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2164-2176 Placer St
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