Two-Garage
For Sale
$350,000
8294 N Heights, Kelseyville, CA 95451
Kelseyville, CA
Property Size1,800 SF
Lot Size0.18 Acres
Price / SF$194.44
Days on Market283
Property Features for 8294 N Heights
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 3
Parking
2
Lot features
Treed Lot, 0-1 Unit/ Acre
Elementary school district
Kelseyville Unified
Middle school district
Kelseyville Unified
High school district
Kelseyville Unified
Directions
Rivera West to N. Heights Dr
Subdivision
LCRW - Riviera West
Standard status
Active
APN
045083090000
Size
1,800 SF
Lot size
0.18 Acres
Taxes and HOA fees
HOA Fee
$435 Annually
Utilities
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
2
Listing Agency:
Century 21 Epic · Century 21 Real Estate
(707) 263-5521
Listed By:
David Lucido · License #02053274
(707) 349-8528
Added: Nov 25, 2025
Changed: Sep 2
Last Checked: Sep 4 at 12:06AM
MLS# LC25266229
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 duplex contains two 900-square-foot residences, each arranged with two bedrooms, one and one-half bathrooms, and a one-car garage. Central air serves the property, while public water supports both units. Unit B is ready for occupancy, and Unit A is receiving new flooring along with select kitchen appliance replacements. A new roof was installed in 2024.
Built in 1985 on a 0.18-acre parcel, the property is located in the Kelseyville Riviera West Subdivision in Kelseyville, California. The combined building area is 1,800 square feet, providing a two-unit configuration with separate garage space for each residence.
Built in 1985 on a 0.18-acre parcel, the property is located in the Kelseyville Riviera West Subdivision in Kelseyville, California. The combined building area is 1,800 square feet, providing a two-unit configuration with separate garage space for each residence.
Key Highlights
- Two 900‑square‑foot units with two bedrooms and one and one‑half bathrooms each
- Each residence includes a one‑car garage
- New roof installed in 2024
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
$15,410
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
4.40%
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%
$308,200
$308.2K
Cap Rate 7%
$220,143
$220.1K
Cap Rate 9%
$171,222
$171.2K
Market Conditions
NOI Build-Up for 1,800 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
$23.1K $12.84/SF
− Vacancy
−$1.1K −$0.61/SF
EGI
$22.0K $12.23/SF
− OpEx
−$6.6K −$3.67/SF
NOI
$15.4K $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%
$308,200
Cap Rate 7%
$220,143
Cap Rate 9%
$171,222
Alternative Uses
Best Use
Multifamily LT 5
$220.1K
$192.6K – $256.8K
NOI $15,410 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$203.1K
$177.8K – $237.0K
NOI $14,220 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$722.4K
$632.1K – $842.9K
NOI $50,571 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 95451, CA
11,747
Population
6,295
Households
1.9
Avg Household Size
47
Median Age
19%
College-Educated
85%
High-School Grad
92.9 sq mi
ZIP Area
126
Density / Sq Mi
$65,417
Median Household Income
$38,149
Median Earnings
$1,302
Median Rent
$340,700
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?
Duplex - Two-bedroom residences feature central air, public water, and interior improvements underway in one unit.
Where is this duplex located?
The property is located at 8294 N Heights Kelseyville, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 900‑square‑foot units with two bedrooms and one and one‑half bathrooms each; Each residence includes a one‑car garage; New roof installed in 2024
