Remodeled Victorian Four-Unit
1603 I Street Eureka, CA 95501
For Sale
$585,000
MULTI_FAMILY - Other - Eureka, CA
Property Size3,098 SF
Lot Size0.17 Acres
Price / SF$188.83
Days on Market55
Property Features for 1603 I Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
5
Bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2
Interior features
Dryer
Appliances
Dryer, Dining in Kitchen
Standard status
Active
Size
3,098 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1903
Floors in Building
2
Number of units
1
Flooring type
Hardwood, Vinyl, Laminate
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Sellers Realty
(707) 822-4337
Listed By:
Patricia Stearns · License #00795877
(707) 599-7145
Added: Jun 5
Changed: Jun 8
Last Checked: Jul 29 at 1:06PM
MLS# 272532
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 remodeled Victorian property is divided into four separate apartments and is reported to be in very good condition. Interiors are described as full of natural light and include period details such as stained glass windows, original moldings, wide plank wood floors, and scalloped shingle siding, helping preserve the building’s historic character. Each tenant has access to a separate laundry room, and there is storage available in the garage.
The property is located at 1603 I Street in Eureka, CA 95501, and is listed under Multi-Family zoning. Public remarks note convenience for shopping, services, and restaurants, along with easy freeway access to Cal Poly Humboldt and College of the Redwoods.
For buyers seeking a small residential income asset, this four-unit configuration provides an opportunity to own one building with multiple apartments under a single ownership. The offering also states that the landlord pays for water, sewer, PGE, garbage, and recycling, which can simplify tenant billing. The mix of separate apartment living with shared laundry and garage storage can be an appealing fit for tenants who want both privacy and practical on-site amenities.
The property is located at 1603 I Street in Eureka, CA 95501, and is listed under Multi-Family zoning. Public remarks note convenience for shopping, services, and restaurants, along with easy freeway access to Cal Poly Humboldt and College of the Redwoods.
For buyers seeking a small residential income asset, this four-unit configuration provides an opportunity to own one building with multiple apartments under a single ownership. The offering also states that the landlord pays for water, sewer, PGE, garbage, and recycling, which can simplify tenant billing. The mix of separate apartment living with shared laundry and garage storage can be an appealing fit for tenants who want both privacy and practical on-site amenities.
Key Highlights
- Remodeled Victorian built in 1903, divided into four apartments
- Stained glass windows, original moldings, and wide plank wood floors
- Multiple flooring types including hardwood, vinyl, and laminate
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 | $61.3k | $19.80 |
| − Vacancy | −$4.1k | −$1.32 |
| EGI | $57.3k | $18.48 |
| − OpEx | −$17.2k | −$5.54 |
| NOI | $40.1k | $12.94 |
3,098 SF · lease $19.80/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$572.6K
$501.0K – $668.1K
NOI $40,083 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$527.0K
$461.1K – $614.8K
NOI $36,890 @ 7.0% cap · market cap 6.31%
Theoretical Best
Flex RnD
$1.17M
$1.02M – $1.36M
NOI $81,896 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four remodeled apartments in a Victorian with shared laundry and garage storage; utilities covered by landlord.
Where is this quadplex located?
The property is located at 1603 I Street Eureka, CA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Remodeled Victorian built in 1903, divided into four apartments; Stained glass windows, original moldings, and wide plank wood floors; Multiple flooring types including hardwood, vinyl, and laminate
