Alexander Townhomes Multifamily
For Sale
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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 Market156
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
Listed By:
Isaac Merritt · License #02153945
(530) 401-1885
Source:
Crexi
Added: May 15
Changed: Oct 16
Last Checked: Oct 16 at 8:33AM
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
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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 / Yr
$200,163
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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.
