Duplex with Detached
For Sale
$1,999,000
8651 La Homa, Cypress, CA 90630
Two separate residences pair with a renovated rental unit, private outdoor areas, and flexible owner-occupancy potential.
Property Size3,085 SF
Lot Size0.25 Acres
Days on Market113
Property Features for 8651 La Homa
General Information
Standard status
Active
Size
3,085 SF
Total Parking Spaces
10
Lot size
0.25 Acres
Property subtype
Investment
Zoning
R3
Units
Unit Mix
1 x 4BR/3BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
jacuzzi
barbecue island
seating areas
private yard
RV parking
Building Details
Building Size
3,085 SF
Year Built
1956
Buildings
3
Stories
1
Units
2
Listing Agency:
Listed By:
Lauren Prelesnik
Source:
Elliman
Added: May 10
Changed: Aug 29
Last Checked: Aug 29 at 6:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lauren Prelesnik
Investment Insights
Based on property information with market context.
This duplex property includes a 2,125 sq. ft. primary residence with 4 bedrooms, 3 full bathrooms, an open living arrangement, and an updated kitchen equipped with a newer Viking range and dishwasher. The detached 960 sq. ft. residence offers 2 bedrooms and 1 bathroom, has undergone a full recent renovation, and is operated as a short-term rental. Separate metering for water, electricity, trash, and internet supports independent use, while the unit also has a private yard and dedicated parking.
A detached 960 sq. ft. vaulted four-car garage and workshop provides substantial storage, hobby, or business-use space. The property sits on an approximately ~0.25-acre lot with an expansive driveway, RV parking, and capacity for approximately 10 vehicles. Outdoor improvements include multiple seating areas, a newer jacuzzi, and a built-in barbecue island with Weber griddle. R3 zoning may support an additional ADU, and the garage may offer conversion potential; buyers are advised to verify zoning, permits, and feasibility with the city. The property is approximately 1.3 miles from Oxford Academy and near shopping and major transportation corridors.
A detached 960 sq. ft. vaulted four-car garage and workshop provides substantial storage, hobby, or business-use space. The property sits on an approximately ~0.25-acre lot with an expansive driveway, RV parking, and capacity for approximately 10 vehicles. Outdoor improvements include multiple seating areas, a newer jacuzzi, and a built-in barbecue island with Weber griddle. R3 zoning may support an additional ADU, and the garage may offer conversion potential; buyers are advised to verify zoning, permits, and feasibility with the city. The property is approximately 1.3 miles from Oxford Academy and near shopping and major transportation corridors.
Key Highlights
- Two residences: 2,125 sq. ft. main home and approximately 960 sq. ft. detached second residence
- Main residence includes 4 bedrooms, 3 full bathrooms, and a newer Viking range and dishwasher
- Renovated 960 sq. ft. rental unit with 2 bedrooms, 1 bathroom, separate utility metering, private yard, and dedicated 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
$65,072
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
3.26%
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%
$1,301,440
$1.3M
Cap Rate 7%
$929,600
$929.6K
Cap Rate 9%
$723,022
$723.0K
Market Conditions
NOI Build-Up for 3,085 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
$96.3K $31.20/SF
− Vacancy
−$3.3K −$1.07/SF
EGI
$93.0K $30.13/SF
− OpEx
−$27.9K −$9.04/SF
NOI
$65.1K $21.09/SF
Area
Orange County, CA
Vacancy
3.42%
Lease Rate
$31.20 /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%
$1,301,440
Cap Rate 7%
$929,600
Cap Rate 9%
$723,022
Alternative Uses
Best Use
Multifamily LT 5
$929.6K
$813.4K – $1.08M
NOI $65,072 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$841.2K
$736.1K – $981.4K
NOI $58,884 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.04M
$906.7K – $1.21M
NOI $72,533 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 90630, CA
49,965
Population
16,544
Households
3
Avg Household Size
41
Median Age
49%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
8,059
Density / Sq Mi
$124,360
Median Household Income
$59,244
Median Earnings
$2,452
Median Rent
$866,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences pair with a renovated rental unit, private outdoor areas, and flexible owner-occupancy potential.
Where is this duplex located?
The property is located at 8651 La Homa Cypress, CA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Two residences: 2,125 sq. ft. main home and approximately 960 sq. ft. detached second residence; Main residence includes 4 bedrooms, 3 full bathrooms, and a newer Viking range and dishwasher; Renovated 960 sq. ft. rental unit with 2 bedrooms, 1 bathroom, separate utility metering, private yard, and dedicated parking
