Lakeport Triplex Investment
677 Armstrong Street, Lakeport, CA 95453
New
Triplex - Lakeport, CA
Type:Triplex
Property size:
7,188 SFLot size:
16,552.00 AcresPrice / SF:
$138/SF- Added:
- May 15, 2026
- Days on Market:
- 2
- Last Refresh:
- May 16 at 7:06 pm
Property Features for 677 Armstrong Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry, Living Room
- Parking
- 11
- Parking features
- Driveway, Garage
- Interior features
- Ceiling Fan(s), Open Floorplan, Carbon Monoxide Detector(s)
- Exterior features
- Fence, Community Features Included: Golf, Biking, Hiking, Fishing, Lake, 6-10 Units/Acre
- Fencing
- Fenced
- Appliances
- Range, Refrigerator
- Standard status
- Active
- APN
- 025293090
- Size
- 7,188 SF
- Lot size
- 16,552.00 Acres
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1994
- Floors in Building
- 2
- Number of units
- 6
- Building materials
- Wood Siding
- Roof type
- Composition
- Architectural style
- Other
Listing agent Denise Marino License #01375525 (707) 245-5077
Listing office RE/MAX Gold Lake County 1675 S. Main St., Lakeport, CA (707) 262-5700
Listing date May 15, 2026
MLS# LC26099675
Listing URL
Copyright © 2026 Lake County 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.
HighLights
- Two well‑maintained triplexes (6 units total) offering immediate income stability.
- Desirable downtown Lakeport location near shopping, schools, restaurants, public transportation, and Clear Lake.
- Four 3‑bedroom units with 2‑car garages and interior laundry rooms, plus two 2‑bedroom units with oversized 3‑car garages and laundry hookups.
- Low‑maintenance exterior, recently painted with roof replaced in 2017.
- Spacious, open floor plans with abundant windows and bright living spaces; direct garage access provides a condominium‑style feel.
- Strong rental demand with a history of maintained waiting list for occupancy.
Overview
This investment opportunity features two triplexes with a total of six units. The complex includes four 3-bedroom, 1.5-bath units with attached 2-car garages and interior laundry rooms, plus two 2-bedroom, 1-bath units with oversized 3-car garages and laundry hookups. Several units have received cosmetic upgrades, and all units feature large, open floor plans, abundant windows, and bright, airy living spaces. Direct garage access to every unit provides a condominium-style feel. The property's exterior requires low maintenance. The exterior was recently painted, and the roof was replaced in 2017. The complex is well-maintained with rental appeal, and the seller has maintained a waiting list for occupancy. Located in downtown Lakeport, tenants have close proximity to shopping, schools, restaurants, public transportation, and Clear Lake. The property is situated on a lot of approximately 0.38 acres and has a total size of 7188 square feet. The property offers income stability with future financial upside potential.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$683.7K
NOI $61,537 @ 9.00% cap · cautious / downside scenario
Moderate
$879.1K
NOI $61,537 @ 7.00% cap · market / base-case scenario
Aggressive
$1.23M
NOI $61,537 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.3k | $12.84 |
| − Vacancy | −$4.4k | −$0.61 |
| EGI | $87.9k | $12.23 |
| − OpEx | −$26.4k | −$3.67 |
| NOI | $61.5k | $8.56 |
7,188 SF · lease $12.84/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$879.1K
$769.2K – $1.03M
NOI $61,537 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$811.2K
$709.8K – $946.5K
NOI $56,787 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$2.88M
$2.52M – $3.37M
NOI $201,947 @ 7.0% cap · market cap 20.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Lakeport
- County
- Lake
- State
- California
- Longitude
- -122.9209601
- Latitude
- 39.0410354
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Two triplexes with six units, excellent rental appeal, downtown location.
Where is this triplex located?
The property is located at 677 Armstrong Street Lakeport, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two well‑maintained triplexes (6 units total) offering immediate income stability.; Desirable downtown Lakeport location near shopping, schools, restaurants, public transportation, and Clear Lake.; Four 3‑bedroom units with 2‑car garages and interior laundry rooms, plus two 2‑bedroom units with oversized 3‑car garages and laundry hookups.
