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Single-Family to Four Plex

Redding Land

2150 Laurel Ave, Redding, CA 96001

Listing Price: $3,200,000

Lot Size
26.08 acres
Price/Acre
$122,699
Land Type
Land

Investment Overview

Marcus & Millichap is proud to present four buildable parcels in Redding California. The subject property consists of four parcels totaling 26.08 +/- acres, of which 12.2 +/- acres are buildable.

1. 2130 MILO AVE REDDING CA 96001 APN: 104-460-008 (3.05 +/- Acres)
2. 2120 LAUREL AVE REDDING CA 96001 APN: 104-460-011 (2.32 +/- Acres)
3. 2150 LAUREL AVE REDDING CA 96001 APN: 104-510-006 (18.34 +/- Acres)
4. 3014 WEST ST REDDING CA 96001 APN: 104-450-009 (2.37 +/- Acres)

The four parcels of land are located just outside downtown Redding, near Mercy Hospital, the major trauma center for the area, with spectacular views from the hills.

Currently zoned for 48 single-family homes, or 48 Duplexes, the buyer will have the opportunity to take advantage of the unique economy the US finds itself in today. Demand for single-family homes has never been stronger, as has demand for single-family rentals or duplex rentals. Due to the COVID Pandemic, there is also an increased interest in for-rent houses and duplexes. Only adding to the trend is the remote work phenomenon that has taken hold, fueling growth in many cities across the nation with more affordable housing and access to the Great Outdoors. Redding is the gateway to Mt Shasta, the Sacramento River, the Trinity Alps and countless activities for outdoor enthusiasts. Thus, with the current zoning, the builder could take advantage of either building and selling single-family homes, or building and leasing 48 Duplexes, 96 units, all with whatever
features they feel would best fit the market.

As far as House sales, they increased by 20 percent statewide in 2020, and Redding was no exception to the increase of prices. With historically low interest rates, the strong desire for space due to COVID restrictions, and low inventory many smaller interior cities in California have seen strong growth. Redding is the largest city in the area, with almost 100,000 residents. At the end of 2020, the unemployment in Redding was only 5 percent, despite the pandemic. All these factors combine to create a unique opportunity for the right buyer to take advantage of this unique moment in history to create a lasting legacy in Redding with a tremendous investment.

Investment Highlights

  • 26.08 +/-Acres with Spectacular Views from the Hills
  • Currently Zoned for 48 Lots Allowing the Buildout of Either 48 SFHomes or 48 Duplexes
  • West Street Gives Direct Access to Mercy Medical Center and Downtown Redding
  • Ample Space Allows the Builder to Create a High-End Neighborhood with Large Backyards
  • Opportunity to Take Advantage of California Real Estate in Largest City North of Sac

Exclusively Listed By

Single-Family to Four Plex

Redding Land

Listing Price: $3,200,000

Lot Size
26.08 acres
Price/Acre
$122,699
Land Type
Land

Investment Highlights

  • 26.08 +/-Acres with Spectacular Views from the Hills
  • Currently Zoned for 48 Lots Allowing the Buildout of Either 48 SFHomes or 48 Duplexes
  • West Street Gives Direct Access to Mercy Medical Center and Downtown Redding
  • Ample Space Allows the Builder to Create a High-End Neighborhood with Large Backyards
  • Opportunity to Take Advantage of California Real Estate in Largest City North of Sac

Investment Overview

Marcus & Millichap is proud to present four buildable parcels in Redding California. The subject property consists of four parcels totaling 26.08 +/- acres, of which 12.2 +/- acres are buildable.

1. 2130 MILO AVE REDDING CA 96001 APN: 104-460-008 (3.05 +/- Acres)
2. 2120 LAUREL AVE REDDING CA 96001 APN: 104-460-011 (2.32 +/- Acres)
3. 2150 LAUREL AVE REDDING CA 96001 APN: 104-510-006 (18.34 +/- Acres)
4. 3014 WEST ST REDDING CA 96001 APN: 104-450-009 (2.37 +/- Acres)

The four parcels of land are located just outside downtown Redding, near Mercy Hospital, the major trauma center for the area, with spectacular views from the hills.

Currently zoned for 48 single-family homes, or 48 Duplexes, the buyer will have the opportunity to take advantage of the unique economy the US finds itself in today. Demand for single-family homes has never been stronger, as has demand for single-family rentals or duplex rentals. Due to the COVID Pandemic, there is also an increased interest in for-rent houses and duplexes. Only adding to the trend is the remote work phenomenon that has taken hold, fueling growth in many cities across the nation with more affordable housing and access to the Great Outdoors. Redding is the gateway to Mt Shasta, the Sacramento River, the Trinity Alps and countless activities for outdoor enthusiasts. Thus, with the current zoning, the builder could take advantage of either building and selling single-family homes, or building and leasing 48 Duplexes, 96 units, all with whatever
features they feel would best fit the market.

As far as House sales, they increased by 20 percent statewide in 2020, and Redding was no exception to the increase of prices. With historically low interest rates, the strong desire for space due to COVID restrictions, and low inventory many smaller interior cities in California have seen strong growth. Redding is the largest city in the area, with almost 100,000 residents. At the end of 2020, the unemployment in Redding was only 5 percent, despite the pandemic. All these factors combine to create a unique opportunity for the right buyer to take advantage of this unique moment in history to create a lasting legacy in Redding with a tremendous investment.

Exclusively Listed By

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