Building Details

Year built 1929

Floors in Building 1

Number of units 14

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

Listed By: David Wells · License #01700566 Show Phone

Added: Aug 30 Changed: Oct 7 Last Checked: Oct 15 at 12:06PM

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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 across 7,218 square feet on 9.5 acres. Built in 1929, the complex sits on a hilltop above a forested hillside and was formerly used as fishing cabins. Most units are currently rented to long-term tenants.

The property includes a nature trail that descends toward the Eel River, adding a distinctive outdoor feature to the residential setting. Zoning is Single Family. The City of Rio Dell has indicated flexibility regarding proposed changes, providing context for evaluating future plans alongside the existing apartment configuration.

Key Highlights

• 14 residential units across 7,218 square feet
• 9.5‑acre hilltop property with a forested hillside
• Most units rented to long‑term tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,950

Cap Rate

8.60%

Suggested Prices Based on Cap Rates

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

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 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 8.60%

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 19.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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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

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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?

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Frequently Asked Questions

What type of property is this?

Apartment building - Mostly leased residential units occupy a wooded hilltop setting with an on-site 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 $999,000.

What are key features of this property?

This property features: 14 residential units across 7,218 square feet; 9.5‑acre hilltop property with a forested hillside; Most units rented to long‑term tenants