3629 Bechelli Ln
Redding, CA 96002
The Oasis · Multifamily Property For Sale · 44 Units

3629 Bechelli Lane is a rare opportunity to acquire a well-kept, value-add multifamily complex located in south Redding. Bechelli Oaks Apartments is a garden-style, 44 unit apartment building located in Redding, California. The property consists of a desirable unit mix of 17 one-bedroom/one-bath units and 26 two-bedroom/one-bath units with attached garages, bonus room and w/d hook-ups, plus a manager's two-bedroom/one bath unit, all on the ground level. Residents enjoy a beautiful courtyard and community pool experience and their own attached porch space. A laundry room with 5 washers/dryers are available with coin operation to bring in an additional income stream. The property was constructed in 1976 near the newly proposed Costco Center. Redding has a historically strong rental submarket due to three college level schools that support the student base of an estimated 15,000. The population within a five mile radius of the property was in excess of 25,000 in 2018. Residents enjoy access to reputable schools within the Redding/Shasta Unified School District. The property is strategically located in the center of Redding suburbia being 3 miles south of Downtown Redding Residents are 2 miles from the region's largest regional mall, Mount Shasta Mall that is experiencing a growth pattern adding Sprouts Farmer's Market, Home Goods and Chick-fil-A in 2020. Bechelli Oaks Apartments has recently installed new roofs, asphalt, flooring, double pane windows, gutters/downspouts, exterior paint, toilets, hot water heaters and fencing. All HVAC systems have filters changed 3-4 times a year with bi-annual maintenance contracts. The savvy investor will assume organic turnover and more substantial income increases, allowing for achieving a 5.5 cap rate within an estimated 12 months. Please do not disturb management or residents All tours must be scheduled through the listing agent.