927 Magnolia Ave, Redding, CA 96001

$67,500
List Price
$67,500
Status
ACTIVE
Days on Market
59
MLS#
21-3636
County
Shasta
Subdivision
N/A

Property Description

Zoned for 4 plex+1., sewer is about a 220 ft run, so think outside the box, how about 24 garage units 12 on each side cascading down the hill. See photo example of what this could be. Rental rates for garage space at $140 to $150 per month would yield an annual return of $43,500 with limited management 100% occupancy, there are many apartment units in the area in need of garage space. Additional land maybe available in easement abandonment.Or try Sec.8 or affordable housing element??Make your move, sellers are ready to deal.

Additional Information

Days on market
59
Acres
0.38
Lot description
City
Elementary school
Red 03.5-06 U/A - 03.5-06 Dwelling Units Per Acre

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Calculator source: Real Geeks

Listing courtesy of Re/Max Five Star.