10-Unit Apartment
For Sale
Contact for pricing
2308 Heiser Lane, Eureka, CA 95501
Five duplex buildings offer attached garages and private yards for every unit.
Property Size5,586 SF
Price / SF$196.92
Days on Market15
Property Features for 2308 Heiser Lane
General Information
Standard status
Active
Size
5,586 SF
Total Parking Spaces
10
Property subtype
Multifamily
Units
Unit Mix
2 x 2BR/1BA, 8 x 1BR/1BA
Multifamily Units
10
Amenities
private yard
Building Details
Year Built
1958
Buildings
5
Units
10
Listing Agency:
Coldwell Banker Commercial Pacific Partners Real Estate
Listed By:
J.B. Mathers · License #CA
Source:
Crexi
Added: Jul 31
Changed: Aug 11
Last Checked: Aug 12 at 1:35PM
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 Coldwell Banker Commercial Pacific Partners Real Estate
Investment Insights
Based on property information with market context.
This multifamily property comprises five duplex buildings with 10 total units and 5,586 square feet. The unit mix includes two 2-bedroom, 1-bath residences and eight 1-bedroom, 1-bath residences. Each unit has an attached garage with direct interior access and a private yard. Built in 1958, the property has dated interiors that may support future renovation work.
The property is located at 2308 Heiser Lane in Eureka, California, within an established residential setting. Its configuration provides a range of unit sizes across the community, while the garage and yard features are incorporated into each residence.
The property is located at 2308 Heiser Lane in Eureka, California, within an established residential setting. Its configuration provides a range of unit sizes across the community, while the garage and yard features are incorporated into each residence.
Key Highlights
- Five duplex buildings with 10 total units
- Unit mix includes two 2‑bedroom, 1‑bath units and eight 1‑bedroom, 1‑bath units
- 5,586 square feet built in 1958
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
$72,273
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
6.57%
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%
$1,445,460
$1.4M
Cap Rate 7%
$1,032,471
$1.0M
Cap Rate 9%
$803,033
$803.0K
Market Conditions
NOI Build-Up for 5,586 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
$110.6K $19.80/SF
− Vacancy
−$7.4K −$1.32/SF
EGI
$103.2K $18.48/SF
− OpEx
−$31.0K −$5.54/SF
NOI
$72.3K $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%
$1,445,460
Cap Rate 7%
$1,032,471
Cap Rate 9%
$803,033
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$903.4K – $1.20M
NOI $72,273 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$950.2K
$831.5K – $1.11M
NOI $66,517 @ 7.0% cap · market cap 6.05%
Theoretical Best
Flex RnD
$2.11M
$1.85M – $2.46M
NOI $147,666 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Explore this area
Business Placement
Demographics for 95501, CA
23,323
Population
10,577
Households
2.2
Avg Household Size
38
Median Age
34%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
3,195
Density / Sq Mi
$55,076
Median Household Income
$34,476
Median Earnings
$1,151
Median Rent
$389,900
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?
Apartment building - Five duplex buildings offer attached garages and private yards for every unit.
Where is this apartment building located?
The property is located at 2308 Heiser Lane Eureka, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five duplex buildings with 10 total units; Unit mix includes two 2‑bedroom, 1‑bath units and eight 1‑bedroom, 1‑bath units; 5,586 square feet built in 1958
