Four-Unit Residential Income
150 Clearlake Lakeport, CA 95453
150 Clearlake, Lakeport, CA, 95453
$579,000
For Sale
$579,000
Four rentable residential units, including a 3-bedroom home plus three additional units, with off-street paved parking and garages.
Property Size3,266 SF
Lot Size0.30 Acres
Price / SF$177.28
Days on Market115
Property Features for 150 Clearlake
General Information
- Standard status
- Active
- Size
- 3,266 SF
- Lot size
- 0.30 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1950
Listing agency
Full Spectrum Properties, Inc.
(515) 988-3477
Listed by
Bridget King · License #02086783
(515) 988-3477
Source
Elliman
Added: Mar 30 Updated: Jul 21 at 5:14PM Checked: Jul 21 at 5:14PM
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 Full Spectrum Properties, Inc.
Investment Insights
Based on property information with market context.
This four-unit residential income property includes a main 3-bedroom, 3.5-bath home and three additional rentable units: a 1-bedroom, 1-bath unit, and two studio units. The main home features high ceilings and ornate details, and all three bedrooms have en-suite bathrooms with individual outside access, reflecting its prior operation as a bed and breakfast. Separate decks provide outdoor space for the property, and the fourth unit is described as needing some work. Off-street parking includes six paved spaces accessed from the back alley, along with two one-car garages.
Located in downtown Lakeport with walkability scores noted in the listing, the property is described as within walking distance to the lake, park, restaurants, and shopping.
The units include currently rented portions and an additional unit that could be brought to market with repairs, all situated on a large fenced lot with mature landscaping and separate yard areas.
Located in downtown Lakeport with walkability scores noted in the listing, the property is described as within walking distance to the lake, park, restaurants, and shopping.
The units include currently rented portions and an additional unit that could be brought to market with repairs, all situated on a large fenced lot with mature landscaping and separate yard areas.
Key Highlights
- 1950‑built main house offers 1,866 SF with 3 bedrooms and 3.5 bathrooms, plus three separate decks
- All 3 bedrooms in the main house have ensuite bathrooms with individual outside access; previously operated as a bed and breakfast
- 3‑bedroom home was recently rented for $2,400/month and could be leased again
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.9k | $12.84 |
| − Vacancy | −$2.0k | −$0.61 |
| EGI | $39.9k | $12.23 |
| − OpEx | −$12.0k | −$3.67 |
| NOI | $28.0k | $8.56 |
3,266 SF · lease $12.84/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$399.4K
$349.5K – $466.0K
NOI $27,960 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$368.6K
$322.5K – $430.0K
NOI $25,802 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,758 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four rentable residential units, including a 3-bedroom home plus three additional units, with off-street paved parking and garages.
Where is this quadplex located?
The property is located at 150 Clearlake Lakeport, CA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 1950‑built main house offers 1,866 SF with 3 bedrooms and 3.5 bathrooms, plus three separate decks; All 3 bedrooms in the main house have ensuite bathrooms with individual outside access; previously operated as a bed and breakfast; 3‑bedroom home was recently rented for $2,400/month and could be leased again
