Building Details

Year built 1929

Floors in Building 1

Number of units 4

Architectural style Other

Listing Agency: Wells Commercial R.E. & Investment i***@wellscommercial.com Show Phone

Listed By: David Wells · License #01700566 Show Phone

Added: Aug 30 Last Checked: Aug 31 at 3:06AM

Report an Issue

MLS# 273255

Copyright © 2026 Humboldt Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This apartment property contains 14 residential units within a 7,218-square-foot complex on 9.5 acres. Built in 1929, the improvements occupy a hilltop setting surrounded by a forested hillside, with a nature trail extending toward the Eel River. The property was formerly operated as fishing cabins and is now mostly occupied by long-term tenants, providing an established residential use. Zoning is identified as Single Family. The City of Rio Dell has indicated flexibility regarding proposed changes to the property, according to the available listing information.

Key Highlights

• 14 residential units across 9.5 acres
• 7,218‑square‑foot apartment complex built in 1929
• Hilltop setting with a forested hillside

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$85,950

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.68%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,719,000 $1.7M

Cap Rate 7%

$1,227,857 $1.2M

Cap Rate 9%

$955,000 $955.0K

Market Conditions

NOI Build-Up for 7,218 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$168.0K $23.28/SF

− Vacancy

−$11.8K −$1.63/SF

EGI

$156.3K $21.65/SF

− OpEx

−$70.3K −$9.74/SF

NOI

$85.9K $11.91/SF

Area

Humboldt County, CA

Vacancy

7.00%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,719,000

Cap Rate 7%

$1,227,857

Cap Rate 9%

$955,000

Alternative Uses

Best Use

Apartment 5plus

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,950 @ 7.0% cap · market cap 8.68%

Second Best

—

—

no second resolved use

Theoretical Best

Flex RnD

$2.73M

$2.39M – $3.18M (±1% cap)

NOI $190,808 @ 7.0% cap · market cap 19.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Parking Lot & Garage Auto Parts Store Storage Facility Dental Office Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14

Residential units

Location Intelligence

Trade Area within ½ mile

73

Businesses Nearby

Explore this area Business Placement

Demographics for 95562, CA

3,475

Population

1,604

Households

2.2

Avg Household Size

38

Median Age

10%

College-Educated

90%

High-School Grad

16.6 sq mi

ZIP Area

209

Density / Sq Mi

$45,801

Median Household Income

$28,526

Median Earnings

$1,057

Median Rent

$310,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Gated Flex Industrial Property

1397 Eeloa Avenue, Rio Dell, CA 95562

$649,000

7,000 SF

View details

Renovated Quadplex with Unit Mix

644 Pacific Ave, Rio Dell, CA 95562

$850,000

View details

Victorian Duplex with Secondary Unit

275 Orchard St, Rio Dell, CA 95562

$369,900

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Hilltop residential complex with forested acreage and a nature trail leading toward the Eel River.

Where is this apartment building located?

The property is located at 140 N Pacific Avenue Rio Dell, CA.

What is the asking price?

The asking price for this property is $990,000.

What are key features of this property?

This property features: 14 residential units across 9.5 acres; 7,218‑square‑foot apartment complex built in 1929; Hilltop setting with a forested hillside