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$ 1,249,000
Est. payment | /mo
4 Beds
3 Baths
8,357 Sqft Lot
$ 1,249,000
Est. payment | /mo
4 Beds
3 Baths
8,357 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS26166569
Bedrooms 4
Lot Size 8,357 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Stabilized triplex in the heart of Alhambra all three units Section 8, on time collection rent. 1201-1205 W Woodward Ave presents a rare opportunity to acquire a fully occupied, government-backed income property in the desirable MLS Area 601 submarket. The building consists of one 2-bedroom/1-bath and two 1-bedroom/1-bath units generating $6,925/month ($83,100/yr) in owner-verified gross income. All three tenants are on active Housing Choice Voucher (HAP) contracts rent paid directly by the housing authority every month. Cap rate 5.12% | NOI $63,970 | GRM 15.03. Annual 4% rent increases each April. No local rent control Alhambra is AB 1482 only. Built 1951 | 2,200 sqft | 8,357 sqft lot | 3 parking spaces | Walk Score 92. Minutes to I-10, Atlantic Blvd corridor, Main St retail, dining, shopping, auto row, and the SGV Medical corridor. A true set-it-and-forget-it income asset in one of Southern California's most resilient appreciation markets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction West of Atlantic Blvd, South of Alhambra ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 5338019012
Listed by RENALDO SUDIBYA, DRE#01411567 IRN REALTY
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