1903 Albee St
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1903 Albee St
11 Unit Apartment Building $1,365,000 ($124,091/Unit) 4.07% Cap Rate Eureka, CA 95501
Investment Highlights
- Below Market Rents
- Seller Financing Available
- Value Add Opportunity
- Ideal for a 1031 Exchange
Executive Summary
1903 Albee St is an 11-unit multi-family property located in the heart of Eureka, CA, the largest coastal city between San Francisco and Portland. Eureka's main employment sources include the city's large port and jobs at Cal State Polytechnic University, Humboldt. The property is surrounded by parks, Alice Birney Elementary School, and the famous Sequoia Park Zoo. It is less than a mile from retailers such as Costco, Eureka Natural Foods, and Walgreens. Additionally, the property is just 15 minutes from Cal State Polytechnic University, Humboldt, making it a convenient location for students.
-Unit Mix: Seven 2 bed 1 bath, Three 1 bed 1 bath, and 1 Studio
-Below market rents, high upside opportunity for a value-add investor
-On site parking
-Seller financing available
-Unit Mix: Seven 2 bed 1 bath, Three 1 bed 1 bath, and 1 Studio
-Below market rents, high upside opportunity for a value-add investor
-On site parking
-Seller financing available
Property Facts
| Price | $1,365,000 | Building Class | C |
| Price Per Unit | $124,091 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 7,544 SF |
| Cap Rate | 4.07% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.46/1,000 SF |
| Apartment Style | Garden |
| Price | $1,365,000 |
| Price Per Unit | $124,091 |
| Sale Type | Investment |
| Cap Rate | 4.07% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 7,544 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.46/1,000 SF |
Site Amenities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
| 1+1 | 3 | - | - |
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Walk Score ®
Very Walkable (77)
Bike Score ®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 004-054-001-000 | Improvements Assessment | $427,131 |
| Land Assessment | $94,740 | Total Assessment | $521,871 |
PROPERTY TAXES
Parcel Number
004-054-001-000
Land Assessment
$94,740
Improvements Assessment
$427,131
Total Assessment
$521,871
zoning
| Zoning Code | RM-1000 |
| RM-1000 |
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1903 Albee St
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