1903 Albee St Eureka, CA 95501-2828
- Apartment buildings
- 7,544 SF
- 0.31 lot acres
Current Use by Public Records
- Tienda Murphy en Eureka / Shopping Mall
Property Details for 1903 Albee St
- Year built
- 1978
- Construction
- WOOD
- Lot size
- 0.31 lot acres
- Property size
- 7,544 SF
- Zone code
- RM-1000
- Property type
- Apartment buildings
- APN
- 004-054-001-000
- APU
- 4054001000
Description
This exceptional industrial property at 1903 Albee Street, Eureka, CA, presents a compelling investment opportunity. The 7,544 square foot building sits on a 0.31-acre corner lot and offers 11 units currently at below-market rents, providing immediate upside potential. The unit mix includes seven two-bedroom units, three one-bedroom units, and one studio, catering to a diverse tenant base. All units are currently occupied, ensuring a stable income stream from day one. Eight of the units are unrenovated, presenting a significant value-add opportunity for a savvy investor to increase rental income through modernization and upgrades. Convenient on-site parking is available for residents, and the property benefits from its proximity to Eureka's desirable amenities, enhancing its appeal to tenants. The asking price for this fee simple interest is $1,365,000. This property offers a rare chance to acquire a well-located, multi-unit industrial building with significant potential for growth and strong returns. The current below-market rents and the opportunity for renovations make this a truly attractive investment prospect.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Eureka
- County
- Humboldt
- State
- California
- Longitude
- -124.176
- Latitude
- 40.7904
- CBSA code
- 21700
- CBSA name
- EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA
