Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

961 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

3260 Alexander Dr 24 Unit Apartment Building $3,250,000 ($135,417/Unit) 6.39% Cap Rate Redding, CA 96002

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Well maintained property held under the same family ownership for over 23 years.
Situated within a peaceful cul-de-sac location.
Three on-site laundry facilities, a dedicated picnic area, and a large parcel with ample parking.

Spacious two- and three-bedroom units offering functional layouts that appeal to families and long-term tenants.
Offering a compelling 6.37% day-one cap rate, conservatively underwritten with a 40% expense ratio.
Current rents are approximately 14% below market, presenting a clear opportunity to drive revenue through rent increases and natural tenant turnover.

Executive Summary

ALIVE Commercial Real Estate is proud to exclusively present Alexander Townhomes, a pride-of-ownership 24-unit multifamily community located at 3260 & 3306 Alexander Drive in Redding, California. Constructed in 1972, the property features an attractive unit mix of (23) two-bedroom / one-bath units and (1) three-bedroom / one-and-a-half-bath unit, each offering functional townhouse layouts. Each unit features vinyl plank flooring, updated lighting and electrical fixtures, and solid wood kitchen cabinetry finishes that enhance overall consistency, maintainability, and pride of ownership throughout the property. Alexander Townhomes benefits from a highly desirable, family-oriented location adjacent to Rother Elementary School and within close proximity to Parsons Junior High and Enterprise High School, supporting consistent rental demand from families and local educators. Redding’s multifamily market is characterized by limited supply, vacancy rates near 3.5%, and steady demand, with minimal new construction
reinforcing a stable and affordable rental environment—particularly within the workforce housing segment. These favorable fundamentals underpin long-term rent growth potential, operational resilience, and overall investment stability. The next owner will acquire a well-maintained asset with in-place cash flow and clear upside potential, requiring limited near-term capital expenditures.

Financial Summary (Actual - 2025)	Annual	Annual Per SF
Gross Rental Income	$348,420	$19.30
Other Income	$8,890	$0.49
Vacancy Loss	$10,452	$0.58
Effective Gross Income	$346,858	$19.22
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$139,211	$7.71
Net Operating Income	$207,647	$11.50

Financial Summary (Actual - 2025)

Gross Rental Income
Annual	$348,420
Annual Per SF	$19.30

Other Income
Annual	$8,890
Annual Per SF	$0.49

Vacancy Loss
Annual	$10,452
Annual Per SF	$0.58

Effective Gross Income
Annual	$346,858
Annual Per SF	$19.22

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$139,211
Annual Per SF	$7.71

Net Operating Income
Annual	$207,647
Annual Per SF	$11.50

Property Facts

Price	$3,250,000	Apartment Style	Low-Rise
Price Per Unit	$135,417	Building Class	C
Sale Type	Investment	Lot Size	1.07 AC
Cap Rate	6.39%	Building Size	18,049 SF
No. Units	24	No. Stories	2
Property Type	Multifamily	Year Built	1972
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$3,250,000
Price Per Unit	$135,417
Sale Type	Investment
Cap Rate	6.39%
No. Units	24
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	1.07 AC
Building Size	18,049 SF
No. Stories	2
Year Built	1972
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.