Two-Level
For Sale
$619,000
65 Royale, Lakeport, CA 95453
Lakeport, CA
Property Size3,200 SF
Lot Size0.16 Acres
Price / SF$193.44
Days on Market234
Property Features for 65 Royale
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Lot features
Back Yard, Cul-De-Sac
Directions
Main St to Lakeport
Subdivision
LCLPS - Lakeport South
Standard status
Active
APN
025611050000
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
covered parking
Building Details
Year built
1965
Floors in Building
2
Number of units
4
Listing Agency:
T.N.G. Real Estate Consultants
(714) 987-3310
Listed By:
Sunny Choi · License #02035072
(562) 330-1000
Added: Jan 26
Changed: Sep 16
Last Checked: Sep 17 at 5:06PM
MLS# PW26018793
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 two-level quadplex contains approximately 3,200 square feet on a 6,534 square foot lot. The building includes four apartments, with each unit configured with two bedrooms and one bathroom. Select apartments have received cosmetic updates, and the roof has been replaced. Covered parking is also provided.
The property is situated in downtown Lakeport near Main Street, with shopping, dining, public transportation, and Clear Lake in the surrounding area. Public water and public sewer serve the property. Built in 1965, the asset combines an established multifamily structure with four currently rented units.
The property is situated in downtown Lakeport near Main Street, with shopping, dining, public transportation, and Clear Lake in the surrounding area. Public water and public sewer serve the property. Built in 1965, the asset combines an established multifamily structure with four currently rented units.
Key Highlights
- Four‑unit building with two bedrooms and one bathroom per apartment
- Approximately 3,200 square feet on a 6,534 square foot lot
- All four units are rented
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
$27,395
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
4.43%
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%
$547,900
$547.9K
Cap Rate 7%
$391,357
$391.4K
Cap Rate 9%
$304,389
$304.4K
Market Conditions
NOI Build-Up for 3,200 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
$41.1K $12.84/SF
− Vacancy
−$2.0K −$0.61/SF
EGI
$39.1K $12.23/SF
− OpEx
−$11.7K −$3.67/SF
NOI
$27.4K $8.56/SF
Area
Lake County, CA
Vacancy
4.75%
Lease Rate
$12.84 /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%
$547,900
Cap Rate 7%
$391,357
Cap Rate 9%
$304,389
Alternative Uses
Best Use
Multifamily LT 5
$391.4K
$342.4K – $456.6K
NOI $27,395 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$361.2K
$316.0K – $421.4K
NOI $25,281 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,904 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
Business Placement
Demographics for 95453, CA
11,978
Population
5,488
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
93%
High-School Grad
87.0 sq mi
ZIP Area
138
Density / Sq Mi
$66,775
Median Household Income
$44,929
Median Earnings
$1,091
Median Rent
$371,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied apartment property with covered parking, public utilities, and recent roof replacement.
Where is this quadplex located?
The property is located at 65 Royale Lakeport, CA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Four‑unit building with two bedrooms and one bathroom per apartment; Approximately 3,200 square feet on a 6,534 square foot lot; All four units are rented
