Fourplex with Private
For Sale
$629,000
1005 Loni Drive, Fortuna, CA 95540
MULTI_FAMILY - Other - Fortuna, CA
Property Size3,840 SF
Lot Size0.15 Acres
Price / SF$163.80
Days on Market94
Property Features for 1005 Loni Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
8
Bathrooms
2
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 7, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 8, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4
Lot features
Flat
Elementary school
South Fortuna
High school
Fortuna
Directions
12th Street offramp, head north, turn left into the 2nd Loni Dr entrance, unit on the right.
Subdivision
Mid County
Standard status
Active
Size
3,840 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Humboldt Equity, Inc.
(707) 682-8100
Listed By:
Matt Allen · License #01305904
(707) 498-3063
Added: May 10
Changed: Jul 6
Last Checked: Aug 11 at 6:06PM
MLS# 272258
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 Fortuna fourplex includes four two-bedroom, 1.5-bath units arranged in a two-story townhome-style layout. Each unit has its own laundry hookups and a private fenced back yard, supporting tenant privacy and day-to-day convenience. Off-street carport parking is provided for residents. The property is separately metered for PGE, and the seller pays water, sewer, and trash. The offering includes income and expense details available in the provided documents.
The building is centrally located in Fortuna, within walking distance to an elementary and high school, as well as downtown services.
This is a practical fit for buyers looking to start or expand a small residential rental portfolio with multiple 2-bedroom units in a single structure. With separate electric metering and tenant-controlled outdoor space, the configuration is designed to support straightforward occupancy and consistent unit amenities. Showings are available by appointment only with proof of financial qualification.
The building is centrally located in Fortuna, within walking distance to an elementary and high school, as well as downtown services.
This is a practical fit for buyers looking to start or expand a small residential rental portfolio with multiple 2-bedroom units in a single structure. With separate electric metering and tenant-controlled outdoor space, the configuration is designed to support straightforward occupancy and consistent unit amenities. Showings are available by appointment only with proof of financial qualification.
Key Highlights
- Fortuna 4‑plex with four 2‑bedroom, 1.5‑bath units
- Two‑story 960 SF town house floorplan; each unit has its own laundry hookups
- Private fenced back yard for each unit
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
$49,683
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
7.90%
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%
$993,660
$993.7K
Cap Rate 7%
$709,757
$709.8K
Cap Rate 9%
$552,033
$552.0K
Market Conditions
NOI Build-Up for 3,840 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
$76.0K $19.80/SF
− Vacancy
−$5.1K −$1.32/SF
EGI
$71.0K $18.48/SF
− OpEx
−$21.3K −$5.54/SF
NOI
$49.7K $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%
$993,660
Cap Rate 7%
$709,757
Cap Rate 9%
$552,033
Alternative Uses
Best Use
Multifamily LT 5
$709.8K
$621.0K – $828.1K
NOI $49,683 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$653.2K
$571.6K – $762.1K
NOI $45,726 @ 7.0% cap · market cap 7.27%
Theoretical Best
Flex RnD
$1.45M
$1.27M – $1.69M
NOI $101,510 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 95540, CA
14,055
Population
6,087
Households
2.3
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
34.1 sq mi
ZIP Area
412
Density / Sq Mi
$62,346
Median Household Income
$37,309
Median Earnings
$1,135
Median Rent
$362,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered two-bedroom units each feature in-unit laundry hookups and fenced private back yards.
Where is this quadplex located?
The property is located at 1005 Loni Drive Fortuna, CA.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Fortuna 4‑plex with four 2‑bedroom, 1.5‑bath units; Two‑story 960 SF town house floorplan; each unit has its own laundry hookups; Private fenced back yard for each unit
