Four-Building Multifamily
For Sale
$1,300,000
6561 Spring Street, Fields Landing, CA 95537
MULTI_FAMILY - Other - Fields Landing, CA
Property Size6,500 SF
Lot Size3.20 Acres
Price / SF$200
Days on Market48
Property Features for 6561 Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Single Family
Bedrooms
14
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 12, Bedroom 7, Bedroom 13, Bathroom 3, Bathroom 6, Bedroom 3, Bathroom 4, Bathroom 7, Bedroom 2, Bedroom 6, Bedroom 8, Bedroom 5, Bathroom 5, Bedroom 1, Bathroom 1, Bedroom 14, Bathroom 2, Bedroom 10, Bedroom 4, Bedroom 11, Bedroom 9
Parking features
Garage
Lot features
Bay View, Cul-De-Sac, Flat, Green Belt, Panoramic View, Sloping, Steep, Wooded, Woods View
View
City, Hills
Elementary school
South Bay
Middle school
Winship
High school
Eureka
Elementary school district
South Bay
Middle school district
South Bay
High school district
South Bay
Directions
Orchard the north on Spring to end of road
Subdivision
South Bay
Standard status
Active
Size
6,500 SF
Lot size
3.20 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1979
Floors in Building
2
Number of units
7
Roof type
Shingle
Architectural style
Other
Listing Agency:
Ming Tree, Inc.
(707) 445-4500
Listed By:
Larry O. Doss · License #01196417
(707) 599-3332
Added: Jul 15
Changed: Aug 10
Last Checked: Aug 31 at 10:06AM
MLS# 272858
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.
Located at 6561 Spring Street in Fields Landing, this for-sale, four-building residential income property is arranged as one duplex, two single-family homes, and one triplex. The buildings sit together on one lot and are supported by a reported maintenance history and long-term rental performance.
The property is described as being east of the highway with clear bay views, and it is just a couple minutes to a public boat ramp.
Zoning is listed as Single Family. The current configuration provides multiple income streams, with the property also being described as offering potential for further development via parcel splitting and/or additional unit construction, subject to applicable approvals.
The property is described as being east of the highway with clear bay views, and it is just a couple minutes to a public boat ramp.
Zoning is listed as Single Family. The current configuration provides multiple income streams, with the property also being described as offering potential for further development via parcel splitting and/or additional unit construction, subject to applicable approvals.
Key Highlights
- One lot with four buildings: 1 duplex, 2 single‑family homes, and 1 triplex
- Great rental history with maintained property and long‑term tenants
- Option to live in one unit while renting the others
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
$84,099
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
6.47%
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%
$1,681,980
$1.7M
Cap Rate 7%
$1,201,414
$1.2M
Cap Rate 9%
$934,433
$934.4K
Market Conditions
NOI Build-Up for 6,500 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
$128.7K $19.80/SF
− Vacancy
−$8.6K −$1.32/SF
EGI
$120.1K $18.48/SF
− OpEx
−$36.0K −$5.54/SF
NOI
$84.1K $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%
$1,681,980
Cap Rate 7%
$1,201,414
Cap Rate 9%
$934,433
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,099 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 5.95%
Theoretical Best
Flex RnD
$2.45M
$2.15M – $2.86M
NOI $171,827 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 95537, CA
313
Population
105
Households
3
Avg Household Size
36
Median Age
17%
College-Educated
100%
High-School Grad
0.3 sq mi
ZIP Area
1,043
Density / Sq Mi
$76,116
Median Household Income
$23,364
Median Earnings
$360,300
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?
Multifamily property - One duplex, two single-family homes, and one triplex on a single lot.
Where is this multifamily property located?
The property is located at 6561 Spring Street Fields Landing, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: One lot with four buildings: 1 duplex, 2 single‑family homes, and 1 triplex; Great rental history with maintained property and long‑term tenants; Option to live in one unit while renting the others
