Versatile Duplex with
For Sale
$325,000
Pending
3005 Albee Street, Eureka, CA 95501
Multi-Family, Eureka, CA
Property Size1,941 SF
Lot Size0.12 Acres
Days on Market53
Property Features for 3005 Albee Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Lot features
Flat
Subdivision
South Bay
Standard status
Pending
Size
1,941 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1904
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Parquet Wood, Plank
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Cutten Realty · Coldwell Banker Real Estate
(707) 445-8811
Listed By:
Joe Matteoli · License #01227617
(707) 496-4561
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 21 at 6:06PM
MLS# 272740
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 duplex offers two separate residences with distinct layouts. The downstairs unit includes two bedrooms, one bathroom, a large kitchen, and a comfortable living room with access to a patio overlooking an expansive backyard. The upstairs unit is a one-bedroom, one-bath home that has been recently refreshed with newer kitchen cabinets, granite slab countertops, and newer luxury vinyl plank flooring.
The property is centrally located in Eureka and sits within multi-family zoning. An oversized backyard provides room for future site improvements, with convenient alley access to support vehicle or equipment access. Alley access may help facilitate plans such as a future garage or workshop, and there may also be scope for additional development; the buyer is responsible for verifying all possibilities with the appropriate agencies.
This configuration can fit owner-occupants who want to live in one unit while renting the other for supplemental income, as well as investors seeking a duplex in a multi-family zoned setting. With the upstairs unit recently refreshed and both homes oriented around indoor living space and an outdoor patio/backyard area, the property supports straightforward dual-residential use.
The property is centrally located in Eureka and sits within multi-family zoning. An oversized backyard provides room for future site improvements, with convenient alley access to support vehicle or equipment access. Alley access may help facilitate plans such as a future garage or workshop, and there may also be scope for additional development; the buyer is responsible for verifying all possibilities with the appropriate agencies.
This configuration can fit owner-occupants who want to live in one unit while renting the other for supplemental income, as well as investors seeking a duplex in a multi-family zoned setting. With the upstairs unit recently refreshed and both homes oriented around indoor living space and an outdoor patio/backyard area, the property supports straightforward dual-residential use.
Key Highlights
- Versatile Eureka duplex built in 1904 with two separate units
- Downstairs unit: 2 bedrooms, 1 bathroom, large kitchen, living room, and patio access overlooking the backyard
- Upstairs unit: recently refreshed 1‑bedroom, 1‑bath with newer kitchen cabinets, granite slab countertops, and luxury vinyl plank flooring
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
$25,113
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
7.73%
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%
$502,260
$502.3K
Cap Rate 7%
$358,757
$358.8K
Cap Rate 9%
$279,033
$279.0K
Market Conditions
NOI Build-Up for 1,941 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
$38.4K $19.80/SF
− Vacancy
−$2.6K −$1.32/SF
EGI
$35.9K $18.48/SF
− OpEx
−$10.8K −$5.54/SF
NOI
$25.1K $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%
$502,260
Cap Rate 7%
$358,757
Cap Rate 9%
$279,033
Alternative Uses
Best Use
Multifamily LT 5
$358.8K
$313.9K – $418.6K
NOI $25,113 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$330.2K
$288.9K – $385.2K
NOI $23,113 @ 7.0% cap · market cap 7.11%
Theoretical Best
Flex RnD
$733.0K
$641.4K – $855.2K
NOI $51,310 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
412
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?
Duplex - Two-unit residential income property with a patio view and alley-access backyard in Eureka’s multi-family zoning.
Where is this duplex located?
The property is located at 3005 Albee Street Eureka, CA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Versatile Eureka duplex built in 1904 with two separate units; Downstairs unit: 2 bedrooms, 1 bathroom, large kitchen, living room, and patio access overlooking the backyard; Upstairs unit: recently refreshed 1‑bedroom, 1‑bath with newer kitchen cabinets, granite slab countertops, and luxury vinyl plank flooring
