Alexander Townhomes Multifamily
For Sale
Contact for pricing
3260 Alexander Dr, Redding, CA 96002
Well-maintained 24-unit multifamily property in Redding, California.
Property Size18,300 SF
Price / SF$177.60
Days on Market110
Property Features for 3260 Alexander Dr
General Information
Standard status
Active
Size
18,300 SF
Property subtype
Multifamily
Occupancy
97%
Investment Type
Stabilized
Net Operating Income
$207,646
Building Details
Year Built
1972
Buildings
3
Units
24
Tenancy
Multi
Listing Agency:
ALIVE Commercial Real Estate
(530) 401-1885
Listed By:
Spencer Moyer · License #CA 01940191
Source:
Crexi
Added: May 15
Changed: Aug 13
Last Checked: Aug 31 at 3:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ALIVE Commercial Real Estate
Investment Insights
Based on property information with market context.
Alexander Townhomes, built in 1972, is a 24-unit multifamily community located on Alexander Drive in Redding, California. The property consists of twenty-three two-bedroom, one-bath units and one three-bedroom, one-and-a-half-bath unit, each with townhouse layouts. Units feature vinyl plank flooring, updated lighting and electrical fixtures, and solid wood kitchen cabinetry. The property is in a family-oriented location adjacent to Rother Elementary School and near Parsons Junior High and Enterprise High School. The multifamily market in Redding has limited supply, vacancy rates near 3.5%, and steady demand, with minimal new construction. This supports a stable and affordable rental environment, particularly within the workforce housing segment, and underpins long-term rent growth potential, operational resilience, and overall investment stability. The property is a well-maintained asset with in-place cash flow and upside potential, requiring limited near-term capital expenditures. The property size is 18,300 square feet.
Key Highlights
- 24‑unit multifamily community with attractive townhouse layouts.
- Updated units featuring vinyl plank flooring, updated lighting and electrical fixtures, and solid wood kitchen cabinetry.
- Located adjacent to Rother Elementary School and close to Parsons Junior High and Enterprise High School.
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
$200,163
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
6.16%
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%
$4,003,260
$4.0M
Cap Rate 7%
$2,859,471
$2.9M
Cap Rate 9%
$2,224,033
$2.2M
Market Conditions
NOI Build-Up for 18,300 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
$384.3K $21.00/SF
− Vacancy
−$20.4K −$1.11/SF
EGI
$363.9K $19.89/SF
− OpEx
−$163.8K −$8.95/SF
NOI
$200.2K $10.94/SF
Area
Shasta County, CA
Vacancy
5.30%
Lease Rate
$21.00 /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%
$4,003,260
Cap Rate 7%
$2,859,471
Cap Rate 9%
$2,224,033
Alternative Uses
Best Use
Apartment 5plus
$2.86M
$2.50M – $3.34M
NOI $200,163 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.07M
$3.56M – $4.75M
NOI $285,195 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,161
Businesses Nearby
Explore this area
Business Placement
Demographics for 96002, CA
35,158
Population
13,685
Households
2.6
Avg Household Size
39
Median Age
22%
College-Educated
93%
High-School Grad
30.6 sq mi
ZIP Area
1,149
Density / Sq Mi
$74,230
Median Household Income
$40,454
Median Earnings
$1,281
Median Rent
$347,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 24-unit multifamily property in Redding, California.
Where is this apartment building located?
The property is located at 3260 Alexander Dr Redding, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 24‑unit multifamily community with attractive townhouse layouts.; Updated units featuring vinyl plank flooring, updated lighting and electrical fixtures, and solid wood kitchen cabinetry.; Located adjacent to Rother Elementary School and close to Parsons Junior High and Enterprise High School.
