Turnkey Duplex With Updated
For Sale
$350,000
8294 N Heights, Kelseyville, CA 95451
MULTI_FAMILY - Kelseyville, CA
Property Size1,800 SF
Lot Size0.18 Acres
Price / SF$194.44
Days on Market267
Property Features for 8294 N Heights
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Laundry Room, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 4
Parking
2
Lot features
Treed Lot, 0-1 Unit/ Acre
Elementary school district
Kelseyville Unified
Middle school district
Kelseyville Unified
High school district
Kelseyville Unified
Directions
Rivera West to N. Heights Dr
Subdivision
LCRW - Riviera West
Standard status
Active
APN
045083090000
Size
1,800 SF
Lot size
0.18 Acres
Taxes and HOA fees
HOA Fee
$435 Annually
Utilities
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
2
Listing Agency:
Century 21 Epic · Century 21 Real Estate
(707) 263-5521
Listed By:
David Lucido · License #02053274
(707) 349-8528
Added: Nov 25, 2025
Changed: Aug 18
Last Checked: Aug 19 at 2:06PM
MLS# LC25266229
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 property includes two separate units, each offering 2 bedrooms and 1 1/2 bathrooms. Each unit also has a 1-car garage. Unit B is turnkey ready, while Unit A is receiving new flooring and some new kitchen appliances.
The home is situated in the Kelseyville Riviera West Subdivision in Kelseyville, CA, on a 0.18-acre lot. A new roof was installed in 2024.
With both units configured the same way, the property presents a straightforward residential income setup with recent exterior improvements and ongoing interior refreshes to support occupancy readiness.
The home is situated in the Kelseyville Riviera West Subdivision in Kelseyville, CA, on a 0.18-acre lot. A new roof was installed in 2024.
With both units configured the same way, the property presents a straightforward residential income setup with recent exterior improvements and ongoing interior refreshes to support occupancy readiness.
Key Highlights
- 1985‑built duplex with central air
- Each unit is 900 SF with 2 bedrooms and 1.5 baths
- Each unit includes a 1‑car garage
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
$15,410
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
4.40%
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%
$308,200
$308.2K
Cap Rate 7%
$220,143
$220.1K
Cap Rate 9%
$171,222
$171.2K
Market Conditions
NOI Build-Up for 1,800 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
$23.1K $12.84/SF
− Vacancy
−$1.1K −$0.61/SF
EGI
$22.0K $12.23/SF
− OpEx
−$6.6K −$3.67/SF
NOI
$15.4K $8.56/SF
Area
Lake County, CA
Vacancy
4.75%
Lease Rate
$12.84 /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%
$308,200
Cap Rate 7%
$220,143
Cap Rate 9%
$171,222
Alternative Uses
Best Use
Multifamily LT 5
$220.1K
$192.6K – $256.8K
NOI $15,410 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$203.1K
$177.8K – $237.0K
NOI $14,220 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$722.4K
$632.1K – $842.9K
NOI $50,571 @ 7.0% cap · market cap 14.45%
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
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 95451, CA
11,747
Population
6,295
Households
1.9
Avg Household Size
47
Median Age
19%
College-Educated
85%
High-School Grad
92.9 sq mi
ZIP Area
126
Density / Sq Mi
$65,417
Median Household Income
$38,149
Median Earnings
$1,302
Median Rent
$340,700
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 2-bedroom units each include a 1-car garage, with a new 2024 roof and Unit B turnkey ready.
Where is this duplex located?
The property is located at 8294 N Heights Kelseyville, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1985‑built duplex with central air; Each unit is 900 SF with 2 bedrooms and 1.5 baths; Each unit includes a 1‑car garage
