Tenant-Occupied
For Sale
$525,000
2467 Fern St, Eureka, CA 95503
Three occupied units offer a mix of one- and two-bedroom layouts.
Property Size2,013 SF
Price / SF$260.80
Days on Market69
Property Features for 2467 Fern St
General Information
Standard status
Active
Size
2,013 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Listing Agency:
NorCal Casas Realty Services
(707) 616-4075
Listed By:
Jessica Jones
(707) 616-4075
Source:
Exprealty
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 11 at 11:39AM
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 NorCal Casas Realty Services
Investment Insights
Based on property information with market context.
Located at 2467 Fern St in Eureka, CA, this triplex contains three residential units with practical layouts and an established tenant configuration. The mix includes two one-bedroom, one-bath units and one two-bedroom, one-bath unit, providing varied apartment sizes within a single property.
The building offers approximately 2,013 square feet of living area, excluding the garage. Occupied units and the range of bedroom configurations provide a clearly defined multifamily setup for buyers evaluating a residential income property. Property details, condition, and applicable regulations should be independently verified.
The building offers approximately 2,013 square feet of living area, excluding the garage. Occupied units and the range of bedroom configurations provide a clearly defined multifamily setup for buyers evaluating a residential income property. Property details, condition, and applicable regulations should be independently verified.
Key Highlights
- Three‑unit multifamily property with two one‑bedroom units and one two‑bedroom unit
- Two 1‑bedroom, 1‑bath units
- One 2‑bedroom, 1‑bath 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
$26,045
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
4.96%
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%
$520,900
$520.9K
Cap Rate 7%
$372,071
$372.1K
Cap Rate 9%
$289,389
$289.4K
Market Conditions
NOI Build-Up for 2,013 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
$39.9K $19.80/SF
− Vacancy
−$2.7K −$1.32/SF
EGI
$37.2K $18.48/SF
− OpEx
−$11.2K −$5.54/SF
NOI
$26.0K $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%
$520,900
Cap Rate 7%
$372,071
Cap Rate 9%
$289,389
Alternative Uses
Best Use
Multifamily LT 5
$372.1K
$325.6K – $434.1K
NOI $26,045 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$342.4K
$299.6K – $399.5K
NOI $23,970 @ 7.0% cap · market cap 4.57%
Theoretical Best
Flex RnD
$760.2K
$665.2K – $886.9K
NOI $53,214 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 95503, CA
24,488
Population
10,738
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
83.7 sq mi
ZIP Area
293
Density / Sq Mi
$76,708
Median Household Income
$36,822
Median Earnings
$1,485
Median Rent
$411,500
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?
Triplex - Three occupied units offer a mix of one- and two-bedroom layouts.
Where is this triplex located?
The property is located at 2467 Fern St Eureka, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit multifamily property with two one‑bedroom units and one two‑bedroom unit; Two 1‑bedroom, 1‑bath units; One 2‑bedroom, 1‑bath unit
