Six-Bedroom Duplex with Storage
For Sale
$674,900
345 Evergreen Avenue, Arcata, CA 95518
Multi-Family, Arcata, CA
Property Size2,456 SF
Lot Size0.18 Acres
Price / SF$274.80
Days on Market46
Property Features for 345 Evergreen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 1, Bathroom 6, Bathroom 3, Bedroom 4, Bathroom 5, Bathroom 4, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 3, Bathroom 1
Interior features
Cathedral/Vault
Lot features
Sloping, Steep
Directions
California to Evergreen, go to end.
Subdivision
North Bay
Standard status
Active
Size
2,456 SF
Lot size
0.18 Acres
Utilities
Sewer type
Public Sewer
Amenities
washer and dryer hookups
gas fireplace
imported tile flooring
ceramic tile countertops
dishwashers
double-pane windows
bathroom skylights
storage basement
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Cutten Realty · Coldwell Banker Real Estate
(707) 445-8811
Listed By:
Tracy Helard-Shumard · License #01204587
(707) 845-2448
Added: Aug 3
Changed: Sep 13
Last Checked: Sep 17 at 5:06AM
MLS# 273038
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.
This 2,456-square-foot duplex, built in 2002, combines a four-bedroom residence with a two-bedroom, two-bath unit. Each bedroom has a private en-suite bathroom. The larger unit includes a living room, kitchen, and washer and dryer hookups, while the second residence offers a gas fireplace, refreshed paint, and new carpet. Tile and carpet flooring, dishwashers, double-pane windows, bathroom skylights, and fire sprinkler systems are included. A large storage basement adds functional space for owners or occupants.
The property sits on a 0.18-acre lot near Cal Poly Humboldt in Arcata, with shopping, restaurants, and public transportation nearby. Additional construction features include new roofs backed by a transferable 10-year warranty and an oversized foundation built beyond code requirements. Public sewer serves the property, and ample off-street parking is available.
The property sits on a 0.18-acre lot near Cal Poly Humboldt in Arcata, with shopping, restaurants, and public transportation nearby. Additional construction features include new roofs backed by a transferable 10-year warranty and an oversized foundation built beyond code requirements. Public sewer serves the property, and ample off-street parking is available.
Key Highlights
- 2,456 SF duplex on a 0.18‑acre lot
- Four‑bedroom main residence plus a 2‑bedroom, 2‑bath unit
- Private en‑suite bathroom for each of the six bedrooms
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
$31,776
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
4.71%
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%
$635,520
$635.5K
Cap Rate 7%
$453,943
$453.9K
Cap Rate 9%
$353,067
$353.1K
Market Conditions
NOI Build-Up for 2,456 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
$48.6K $19.80/SF
− Vacancy
−$3.2K −$1.32/SF
EGI
$45.4K $18.48/SF
− OpEx
−$13.6K −$5.54/SF
NOI
$31.8K $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%
$635,520
Cap Rate 7%
$453,943
Cap Rate 9%
$353,067
Alternative Uses
Best Use
Multifamily LT 5
$453.9K
$397.2K – $529.6K
NOI $31,776 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$417.8K
$365.6K – $487.4K
NOI $29,245 @ 7.0% cap · market cap 4.33%
Theoretical Best
Flex RnD
$927.5K
$811.6K – $1.08M
NOI $64,924 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide private bathrooms for all six bedrooms, along with off-street parking and separate living spaces.
Where is this duplex located?
The property is located at 345 Evergreen Avenue Arcata, CA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: 2,456 SF duplex on a 0.18‑acre lot; Four‑bedroom main residence plus a 2‑bedroom, 2‑bath unit; Private en‑suite bathroom for each of the six bedrooms
