Historic Victorian Multifamily
For Sale
$495,000
Pending
1005 E Street, Eureka, CA 95501
Multi-Family, Eureka, CA
Property Size2,410 SF
Lot Size0.15 Acres
Days on Market134
Property Features for 1005 E Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Single Family
Interior features
Ceiling Fan
Lot features
Green Belt, Panoramic View, In Town, Near Shopping
Subdivision
South Bay
Standard status
Pending
Size
2,410 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Amenities
pocket doors
period hardware
bay windows
high ceilings
archways
original detailed fireplace and mantle
Building Details
Year built
1883
Floors in Building
2
Number of units
3
Flooring type
Wood, Vinyl, Carpet
Roof type
Shingle
Architectural style
Other
Listing Agency:
Forbes & Associates - Eric Cecchin
(707) 498-1817
Listed By:
Eric Cecchin · License #01200438
(707) 839-5441
Added: Apr 25
Changed: Sep 3
Last Checked: Sep 5 at 1:06PM
MLS# 272129
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.
Built in 1883, this 2,410-square-foot Victorian multifamily property contains six separately metered apartments. The building retains original features including clear fir flooring, pocket doors, period hardware, high ceilings, archways, bay windows, and a detailed fireplace with matching mantel. Interior finishes include wood, vinyl, and carpet flooring, along with ceiling fans. The property has a shingle roof and public sewer service.
Located at 1005 E Street in Eureka, the home overlooks the Eureka Heritage Society Gardens and offers views toward the bay. Its setting is described as walkable to town and Old Town. The property is zoned Single Family and occupies 0.15 acres.
Located at 1005 E Street in Eureka, the home overlooks the Eureka Heritage Society Gardens and offers views toward the bay. Its setting is described as walkable to town and Old Town. The property is zoned Single Family and occupies 0.15 acres.
Key Highlights
- 1883 construction with original Victorian details, including pocket doors, period hardware, archways, and a detailed fireplace
- Six separately metered apartments
- 2,410 square feet across the multifamily property
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
$31,181
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
6.30%
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%
$623,620
$623.6K
Cap Rate 7%
$445,443
$445.4K
Cap Rate 9%
$346,456
$346.5K
Market Conditions
NOI Build-Up for 2,410 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
$47.7K $19.80/SF
− Vacancy
−$3.2K −$1.32/SF
EGI
$44.5K $18.48/SF
− OpEx
−$13.4K −$5.54/SF
NOI
$31.2K $12.94/SF
Area
Humboldt County, CA
Vacancy
6.65%
Lease Rate
$19.80 /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%
$623,620
Cap Rate 7%
$445,443
Cap Rate 9%
$346,456
Alternative Uses
Best Use
Multifamily LT 5
$445.4K
$389.8K – $519.7K
NOI $31,181 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$410.0K
$358.7K – $478.3K
NOI $28,698 @ 7.0% cap · market cap 5.80%
Theoretical Best
Flex RnD
$910.1K
$796.4K – $1.06M
NOI $63,708 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 95501, CA
23,323
Population
10,577
Households
2.2
Avg Household Size
38
Median Age
34%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
3,195
Density / Sq Mi
$55,076
Median Household Income
$34,476
Median Earnings
$1,151
Median Rent
$389,900
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?
Multifamily property - Six separately metered apartments occupy an 1883 Victorian with original architectural details and bay views.
Where is this multifamily property located?
The property is located at 1005 E Street Eureka, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1883 construction with original Victorian details, including pocket doors, period hardware, archways, and a detailed fireplace; Six separately metered apartments; 2,410 square feet across the multifamily property
