Blue Oak Court

Blue Oak Court is an 80-unit, 100% affordable family community at 2300 Highway 273 in Anderson, California, about ten minutes south of Redding in Shasta County. Built in 2008 with a 9% LIHTC allocation and a USDA Rural Development Section 538 guaranteed loan, the property has been professionally managed by Cambridge Real Estate Services since it was placed in service. The July 2026 rent roll shows 98.75% occupancy.

The unit mix is built for families: 24 two-bedroom, 40 three-bedroom and 16 four-bedroom units across ten two- and three-story walk-up buildings, averaging roughly 1,150 square feet. Community amenities include a pool and BBQ pavilion, a playground, a community room, and a courtyard shaded by the mature blue oak the property is named for. Units have in-unit washer/dryer hookups.

The property is restricted at 30%, 50%, 55% and 60% AMI under a TCAC regulatory agreement that runs through 2063, along with a USDA Section 538 regulatory agreement. The in-place $2.3M Section 538 loan amortizes through 2049, and the program's annual Mortgage Interest Subsidy ($96,670 over the trailing twelve months) more than offsets the loan's interest expense. Twenty-two units are leased to Housing Choice Voucher holders, and those rents have room to grow toward the Section 8 payment standard.

Blue Oak Court is offered unpriced on an open solicitation basis, all-cash or with assumption of the in-place USDA 538 debt. It fits preservation buyers planning to hold, or to resyndicate with 4% credits and tax-exempt bonds.