Three-Unit Multifamily
For Sale
$349,000
Pending
813 Summer Street, Eureka, CA 95501
Multi-Family, Eureka, CA
Property Size2,379 SF
Lot Size0.14 Acres
Days on Market179
Property Features for 813 Summer Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 4
High school
Eureka
Subdivision
South Bay
Standard status
Pending
APN
001-047-009
Size
2,379 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1878
Floors in Building
2
Number of units
1
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty of California, Inc.
(888) 584-9427
Listed By:
Cody Michael Hurst · License #02097302
(707) 498-1033
Added: Apr 1
Changed: Sep 15
Last Checked: Sep 26 at 2:06PM
MLS# 271916
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 2,379-square-foot multifamily property contains three residences: one one-bedroom unit and two two-bedroom units. Built in 1878, the building has a shingle roof and is served by public sewer. The unit mix accommodates both rental operations and owner-occupant use, as supported by the existing configuration.
The property is located on Summer Street in Eureka, near downtown and close to shopping, dining, and other local amenities. Its 0.14-acre lot and central setting provide a compact residential income property with three separate units and Multi-Family zoning.
The property is located on Summer Street in Eureka, near downtown and close to shopping, dining, and other local amenities. Its 0.14-acre lot and central setting provide a compact residential income property with three separate units and Multi-Family zoning.
Key Highlights
- Three‑unit configuration with one 1‑bedroom and two 2‑bedroom residences
- 2,379 square feet on a 0.14‑acre lot
- Multi‑Family zoning
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
$30,780
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
8.82%
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%
$615,600
$615.6K
Cap Rate 7%
$439,714
$439.7K
Cap Rate 9%
$342,000
$342.0K
Market Conditions
NOI Build-Up for 2,379 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
$47.1K $19.80/SF
− Vacancy
−$3.1K −$1.32/SF
EGI
$44.0K $18.48/SF
− OpEx
−$13.2K −$5.54/SF
NOI
$30.8K $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%
$615,600
Cap Rate 7%
$439,714
Cap Rate 9%
$342,000
Alternative Uses
Best Use
Multifamily LT 5
$439.7K
$384.8K – $513.0K
NOI $30,780 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.1K
NOI $28,328 @ 7.0% cap · market cap 8.12%
Theoretical Best
Flex RnD
$898.4K
$786.1K – $1.05M
NOI $62,889 @ 7.0% cap · market cap 18.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,899
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Multi-Family zoning supports a unit mix of one one-bedroom and two two-bedroom residences near central Eureka amenities.
Where is this triplex located?
The property is located at 813 Summer Street Eureka, CA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three‑unit configuration with one 1‑bedroom and two 2‑bedroom residences; 2,379 square feet on a 0.14‑acre lot; Multi‑Family zoning
