Two-Unit Duplex with
New
For Sale
$459,000
85 Royale Avenue, Lakeport, CA 95453
Residential Income, Lakeport, CA
Property Size1,606 SF
Lot Size0.15 Acres
Price / SF$285.80
Days on Market2
Property Features for 85 Royale Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Parking
6
Parking features
On Street, Garage, Covered
Window features
Double Pane Windows
Appliances
Dishwasher, Free-Standing Electric Range
Lot features
Curb(s), Sidewalk
Directions
Main St to Royale Ave, Duplex is on the right
Subdivision
Lake County
Standard status
Active
APN
025611030000
Size
1,606 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
RE/MAX GOLD · RE/MAX International
(916) 536-7652
Listed By:
Peggy R Butcher · License #01988737
(916) 536-7648
Added: Aug 29
Last Checked: Aug 30 at 10:06AM
MLS# 326073693
Copyright © 2026 Bay Area Real Estate Information Services, 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 2004 duplex contains 1,606 square feet across two residential units. Each unit offers 2 bedrooms, 1 bathroom, a 1-car garage, and additional driveway parking. Both residences are occupied by longtime tenants. Interior features include a dishwasher and free-standing electric range, while central heating and central air serve the property. The building has a composition roof and is connected to public water and public sewer.
Set in Lakeport on a 0.15-acre lot, the property is near shopping, restaurants, and the lake. Covered and on-street parking provide additional parking options beyond the attached garages. The existing two-unit configuration and established tenancy support continued use as a residential income property.
Set in Lakeport on a 0.15-acre lot, the property is near shopping, restaurants, and the lake. Covered and on-street parking provide additional parking options beyond the attached garages. The existing two-unit configuration and established tenancy support continued use as a residential income property.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- 1,606 square feet on a 0.15‑acre lot
- Each unit includes a 1‑car garage and driveway parking
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
$13,749
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
3.00%
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%
$274,980
$275.0K
Cap Rate 7%
$196,414
$196.4K
Cap Rate 9%
$152,767
$152.8K
Market Conditions
NOI Build-Up for 1,606 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
$20.6K $12.84/SF
− Vacancy
−$979 −$0.61/SF
EGI
$19.6K $12.23/SF
− OpEx
−$5.9K −$3.67/SF
NOI
$13.7K $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%
$274,980
Cap Rate 7%
$196,414
Cap Rate 9%
$152,767
Alternative Uses
Best Use
Multifamily LT 5
$196.4K
$171.9K – $229.2K
NOI $13,749 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$181.3K
$158.6K – $211.5K
NOI $12,688 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$644.6K
$564.0K – $752.0K
NOI $45,121 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
528
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
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 - Occupied residential income property with central heating, air conditioning, and public utilities in Lakeport.
Where is this duplex located?
The property is located at 85 Royale Avenue Lakeport, CA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; 1,606 square feet on a 0.15‑acre lot; Each unit includes a 1‑car garage and driveway parking
