Triplex Property with RV
For Sale
$290,000
6640 Redding Street, Klamath Falls, OR 97603
Residential Income, Klamath Falls, OR
Property Size1,100 SF
Lot Size0.29 Acres
Price / SF$263.64
Days on Market206
Property Features for 6640 Redding Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R2
Parking features
Carport, On Street, Driveway
Window features
Vinyl Frames
Patio and Porch features
Deck, Patio, Porch
Interior features
Ceiling Fan(s), Fiberglass Stall Shower, Laminate Counters, Open Floorplan, Shower/Tub Combo
Exterior features
RV Dump, RV Hookup
Appliances
Cooktop, Dryer, Range Hood, Refrigerator, Washer, Water Heater
Subdivision
Ankeny Garden Tracts
Lot features
Fenced, Level
View
Territorial
Elementary school
Henley Elem
Middle school
Henley Middle
High school
Henley High
Directions
South on Homedale, left on Airway, right on Redding Street. House is at the end of the street.
Standard status
Active
APN
583078
Size
1,100 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
506
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Pellet Stove
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Well
Building Details
Year built
1968
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Carpet
Roof type
Metal
Architectural style
Other
Additional Structures
Workshop
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Kelli M Santillie · License #200808160
(541) 331-5900
Added: Jan 26
Changed: Aug 19
Last Checked: Aug 20 at 6:06AM
MLS# 220214288
Copyright © 2026 Oregon Data Share. 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.
Triplex property in Klamath Falls featuring three manufactured homes on a 0.29-acre lot. Each home has its own driveway, carport, sheds, gravel driveway, and fencing. The main home includes recent updates such as new bottom cabinets partially in the kitchen, new vinyl flooring, a new countertop and sink, and new carpet within the past five years. Vinyl windows run throughout the home, and the layout includes an open floorplan.
Behind the main house is a large shop with a lift, propane heater, and insulated interior. The shop is wired for 220, and includes a 50 amp RV plug, plus a man door and a sliding door for access. A detached one-car garage and new fencing in the front of the property are also included.
An RV pad with hookup is provided, along with exterior features including an RV dump. The property is serviced by a well and septic tank, and the roof is metal. The main house was built in 1968.
Behind the main house is a large shop with a lift, propane heater, and insulated interior. The shop is wired for 220, and includes a 50 amp RV plug, plus a man door and a sliding door for access. A detached one-car garage and new fencing in the front of the property are also included.
An RV pad with hookup is provided, along with exterior features including an RV dump. The property is serviced by a well and septic tank, and the roof is metal. The main house was built in 1968.
Key Highlights
- Three manufactured homes with long‑term tenants on a 0.29‑acre lot
- Main home updates include new vinyl flooring, countertop and sink, plus new carpet within 5 years
- Shop behind the main house has a lift, propane heater, and is wired for 220 with a 50 amp RV plug
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
$8,966
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
3.09%
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%
$179,320
$179.3K
Cap Rate 7%
$128,086
$128.1K
Cap Rate 9%
$99,622
$99.6K
Market Conditions
NOI Build-Up for 1,100 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
$14.0K $12.72/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$12.8K $11.64/SF
− OpEx
−$3.8K −$3.49/SF
NOI
$9.0K $8.15/SF
Area
Klamath County, OR
Vacancy
8.46%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
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%
$179,320
Cap Rate 7%
$128,086
Cap Rate 9%
$99,622
Alternative Uses
Best Use
Multifamily LT 5
$128.1K
$112.1K – $149.4K
NOI $8,966 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$113.4K
$99.2K – $132.3K
NOI $7,937 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$224.8K
$196.7K – $262.3K
NOI $15,739 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 97603, OR
31,302
Population
13,568
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
91%
High-School Grad
340.6 sq mi
ZIP Area
92
Density / Sq Mi
$64,272
Median Household Income
$41,124
Median Earnings
$987
Median Rent
$251,100
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?
Triplex - Triplex-style manufactured home property with long-term tenants and an RV pad with hookup.
Where is this triplex located?
The property is located at 6640 Redding Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Three manufactured homes with long‑term tenants on a 0.29‑acre lot; Main home updates include new vinyl flooring, countertop and sink, plus new carpet within 5 years; Shop behind the main house has a lift, propane heater, and is wired for 220 with a 50 amp RV plug
