Alley-Access Four-Plex with
For Sale
$599,000
2805 California Street, Eureka, CA 95501
Multi-Family, Eureka, CA
Property Size2,484 SF
Lot Size0.33 Acres
Price / SF$241.14
Days on Market159
Property Features for 2805 California Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Lot features
Flat, Corner
Directions
Corner of California and Henderson
Subdivision
South Bay
Standard status
Active
Size
2,484 SF
Lot size
0.33 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1950
Floors in Building
1
Number of units
4
Flooring type
Tile, Vinyl, Hardwood
Roof type
Membrane
Architectural style
Other
Listing Agency:
Benchmark Realty Group/ Mb
(707) 476-0200
Listed By:
Mark Burtchett · License #00812364
(707) 476-0200
Added: Mar 16
Changed: Aug 19
Last Checked: Aug 21 at 12:06PM
MLS# 271786
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 Eureka four-plex is configured as two duplex buildings with four single-level one-bedroom units. The property offers a combination of updated interiors, including hardwood floors and remodeled baths plus newer kitchens in three of the four units. Each unit includes its own carport and backyard space, and all but one unit has updated windows.
Set on an oversized one-third-acre lot, the property provides alley access along with additional off-street parking. The layout supports flexible use of the site, including room for additional development as described.
For tenants seeking single-level living or investors looking for a small residential income property in a multi-family-zoned setting, the unit mix and on-site parking can make day-to-day occupancy more straightforward. The mix of renovations across most units may also appeal to buyers prioritizing move-in-ready interiors, with one unit identified as having windows that are not updated.
Set on an oversized one-third-acre lot, the property provides alley access along with additional off-street parking. The layout supports flexible use of the site, including room for additional development as described.
For tenants seeking single-level living or investors looking for a small residential income property in a multi-family-zoned setting, the unit mix and on-site parking can make day-to-day occupancy more straightforward. The mix of renovations across most units may also appeal to buyers prioritizing move-in-ready interiors, with one unit identified as having windows that are not updated.
Key Highlights
- Eureka four‑plex on an oversized 1/3‑acre lot with alley access and additional off‑street parking
- Four single‑level 1‑bedroom units across two duplex buildings
- Remodeled baths and newer kitchens in three units
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
$32,139
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
5.37%
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%
$642,780
$642.8K
Cap Rate 7%
$459,129
$459.1K
Cap Rate 9%
$357,100
$357.1K
Market Conditions
NOI Build-Up for 2,484 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
$49.2K $19.80/SF
− Vacancy
−$3.3K −$1.32/SF
EGI
$45.9K $18.48/SF
− OpEx
−$13.8K −$5.54/SF
NOI
$32.1K $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%
$642,780
Cap Rate 7%
$459,129
Cap Rate 9%
$357,100
Alternative Uses
Best Use
Multifamily LT 5
$459.1K
$401.7K – $535.7K
NOI $32,139 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$422.6K
$369.7K – $493.0K
NOI $29,579 @ 7.0% cap · market cap 4.94%
Theoretical Best
Flex RnD
$938.1K
$820.8K – $1.09M
NOI $65,664 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
574
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?
Quadplex - Four single-level 1-bedroom units in two duplex buildings, each with a carport and backyard space, off alley access.
Where is this quadplex located?
The property is located at 2805 California Street Eureka, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Eureka four‑plex on an oversized 1/3‑acre lot with alley access and additional off‑street parking; Four single‑level 1‑bedroom units across two duplex buildings; Remodeled baths and newer kitchens in three units
