6-Home Multifamily
For Sale
$999,000
1181 Q Street, Arcata, CA 95521
Multi-Family, Arcata, CA
Property Size4,289 SF
Lot Size0.63 Acres
Price / SF$232.92
Days on Market139
Property Features for 1181 Q Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Single Family
Lot features
Flat, In Town, Near Public Trans, Near Shopping
High school
Arcata
Directions
Down a private lane off Q St, no sign.
Subdivision
North Bay
Standard status
Active
APN
505-211-013
Size
4,289 SF
Lot size
0.63 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1952
Floors in Building
1
Number of units
6
Architectural style
Other
Listing Agency:
Forbes & Associates - Eric Cecchin
(707) 498-1817
Listed By:
Eric Cecchin · License #01200438
(707) 839-5441
Added: Apr 18
Changed: Sep 1
Last Checked: Sep 3 at 12:06PM
MLS# 272059
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.
Six small homes comprise a 4,289-square-foot multifamily property on a private lane in Arcata. Built in 1952, the property has Single Family zoning and public sewer service. The layout gives each residence meaningful surrounding space while maintaining a shared residential setting.
The property is within a few minutes’ walk, bike ride, or drive of Arcata town center and Cal Poly Humboldt. Residents can also walk to the weekly farmers market, North Coast Co-Op, and Arcata Plaza, while the Creamery district’s shops and restaurants are a few blocks away. All tenants have remained in place for more than 5 years, with no vacancy since the current owner purchased the property 5 years ago.
The property is within a few minutes’ walk, bike ride, or drive of Arcata town center and Cal Poly Humboldt. Residents can also walk to the weekly farmers market, North Coast Co-Op, and Arcata Plaza, while the Creamery district’s shops and restaurants are a few blocks away. All tenants have remained in place for more than 5 years, with no vacancy since the current owner purchased the property 5 years ago.
Key Highlights
- Six small homes totaling 4,289 square feet
- Single Family zoning with public sewer service
- Built in 1952
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
$51,072
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
5.11%
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%
$1,021,440
$1.0M
Cap Rate 7%
$729,600
$729.6K
Cap Rate 9%
$567,467
$567.5K
Market Conditions
NOI Build-Up for 4,289 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
$99.8K $23.28/SF
− Vacancy
−$7.0K −$1.63/SF
EGI
$92.9K $21.65/SF
− OpEx
−$41.8K −$9.74/SF
NOI
$51.1K $11.91/SF
Area
Humboldt County, CA
Vacancy
7.00%
Lease Rate
$23.28 /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%
$1,021,440
Cap Rate 7%
$729,600
Cap Rate 9%
$567,467
Alternative Uses
Best Use
Apartment 5plus
$729.6K
$638.4K – $851.2K
NOI $51,072 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.62M
$1.42M – $1.89M
NOI $113,380 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 95521, CA
21,581
Population
9,797
Households
2.2
Avg Household Size
30
Median Age
45%
College-Educated
95%
High-School Grad
60.4 sq mi
ZIP Area
357
Density / Sq Mi
$54,324
Median Household Income
$24,129
Median Earnings
$1,300
Median Rent
$478,600
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 small homes share a private lane near Arcata town center, with public sewer service and Single Family zoning.
Where is this multifamily property located?
The property is located at 1181 Q Street Arcata, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Six small homes totaling 4,289 square feet; Single Family zoning with public sewer service; Built in 1952
