This Multifamily Property is Off-Market.

3980 Churn Creek,
Redding, CA 96002 ·

46 Units · Multifamily For Sale

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Loma Vista Apartments

Price N/A Cap Rate 7%
No. Units 46 Gross Rent Multiplier 11
Building Size 35,792 SF Occupancy 75%
Property Type Multifamily Year Built 1980
Property Sub-type Mid/High-Rise Lot Size 1.37 AC
Property Use Type Investment
Listing ID: 13918735 Date Created: 05/11/2004 Last Updated: 05/23/2005

Description

Great location, built in 1980. Stucco building with wood trim. 13 garages and 81 open spaces for parking. Large vacancy rate reflect change of mngmnt, and a fire in one bldg. Ins. Statement of loss has been completed. A 5% vacancy factor estimate was used. Gross income was derrived from actual, expenses based on 35%. Current vacancy rate in Redding is from 2 to 3%. Call agt for financing options. Good upside.

Churn Creek south of Hartnell on the west side of Churn Creek.

Highlights

  • Priced below Replacement Cost
  • 13 garages and 81 open spaces for parking
  • Pool plus managers unit & onsite laundry
  • 32 2 bdrm 1 bth, 12 1bdrm 1 bth, 1 3 bdrm 1 bth
  • wood frame/stucco construction
  • 1 2 bdrm managers unit

Research

3980 Churn Creek,, Redding, CA 96002 (Shasta County)

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