Triplex With Housing Voucher
New
For Sale
$1,249,000
1201 W Woodward, Alhambra, CA 91801
Three-unit property comprising one two-bedroom residence and two one-bedroom residences.
Property Size2,200 SF
Lot Size0.19 Acres
Price / SF$567.73
Days on Market5
Property Features for 1201 W Woodward
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
3
Lot size
0.19 Acres
Property subtype
Investment
Occupancy
100%
Net Operating Income
$63,970
Financials
Cap Rate
5.12%
Gross Income
$83,100
Gross Rent Multiplier
15.03
Additional Details
Highway Access
Yes
Building Details
Building Size
2,200 SF
Year Built
1951
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
IRN Realty
(626) 316-6700
Listed By:
RENALDO SUDIBYA · License #01411567
(626) 316-6700
Source:
Elliman
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 4 at 9:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of IRN Realty
Investment Insights
Based on property information with market context.
Built in 1951, this 2,200-square-foot triplex contains one 2-bedroom/1-bath unit and two 1-bedroom/1-bath units. The two smaller units are subject to active Housing Choice Voucher contracts, while the larger unit has been occupied by the same private-pay tenant since 2012. The property is 100% occupied and carries a 5.12% cap rate with a 15.03 GRM. Annual 4% rent increases apply each April to the voucher units, and the property is governed locally by AB 1482 without local rent control.
Located at 1201 W Woodward in Alhambra, the property sits on an 8,357-square-foot lot with 3 parking spaces. Access to I-10, the Atlantic Boulevard corridor, Main Street auto row, and the San Gabriel Valley Medical corridor is noted in the property information. Walk Score is listed as 77, with a Bike Score of 52.
Located at 1201 W Woodward in Alhambra, the property sits on an 8,357-square-foot lot with 3 parking spaces. Access to I-10, the Atlantic Boulevard corridor, Main Street auto row, and the San Gabriel Valley Medical corridor is noted in the property information. Walk Score is listed as 77, with a Bike Score of 52.
Key Highlights
- Three‑unit configuration: one 2‑bedroom/1‑bath unit and two 1‑bedroom/1‑bath units
- 100% occupied with two active Housing Choice Voucher (HAP) contracts
- Annual 4% rent increases each April on Section 8 units
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.4k | $27.00 |
| − Vacancy | −$4.5k | −$2.05 |
| EGI | $54.9k | $24.95 |
| − OpEx | −$16.5k | −$7.48 |
| NOI | $38.4k | $17.46 |
2,200 SF · lease $27.00/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$548.9K
$480.3K – $640.3K
NOI $38,420 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,451 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 91801, CA
53,669
Population
21,702
Households
2.5
Avg Household Size
41
Median Age
41%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
12,481
Density / Sq Mi
$85,549
Median Household Income
$47,855
Median Earnings
$1,879
Median Rent
$797,000
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?
Triplex - Three-unit property comprising one two-bedroom residence and two one-bedroom residences.
Where is this triplex located?
The property is located at 1201 W Woodward Alhambra, CA.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Three‑unit configuration: one 2‑bedroom/1‑bath unit and two 1‑bedroom/1‑bath units; 100% occupied with two active Housing Choice Voucher (HAP) contracts; Annual 4% rent increases each April on Section 8 units
