Renovated 3-Unit Multifamily
New
For Sale
$735,000
1763 Woodland Dr, Hanford, CA 93230
Three-unit residential property with updated interiors, private fenced patios, and on-site tenant laundry.
Property Size2,694 SF
Days on Market3
Property Features for 1763 Woodland Dr
General Information
Standard status
Active
Size
2,694 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,213
Amenities
coin-operated laundry room
private fenced rear patio
Building Details
Building Size
2,694 SF
Year Built
1961
Year Renovated
2018
Stories
1
Units
3
Listing Agency:
List With Freedom.com
(855) 456-4945
Listed By:
Pamela Chyba · License #01273673
Source:
Elliman
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 11:02PM
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 List With Freedom.com
Investment Insights
Based on property information with market context.
This three-unit multifamily property received a comprehensive renovation in 2018, including updated electrical, insulation, drywall, HVAC systems, doors, windows, lighting, appliances, and finishes. Kitchens feature new cabinets and granite countertops, while living areas and bedrooms have luxury vinyl plank flooring. Kitchens and bathrooms include tile flooring, and each unit has a private fenced rear patio.
A shared coin-operated laundry room contains two washers and two dryers. The property has an established rental history with long-term occupants generally leasing on revolving one-year terms, along with one recently leased unit. Additional improvements include a 30-year composition roof, renovated landscaping with new sprinkler components, digital door hardware, and hardwired smoke and carbon monoxide detectors. The building was constructed in 1961 and has a walk score of 12, a bike score of 36, and a transit score of 29.
A shared coin-operated laundry room contains two washers and two dryers. The property has an established rental history with long-term occupants generally leasing on revolving one-year terms, along with one recently leased unit. Additional improvements include a 30-year composition roof, renovated landscaping with new sprinkler components, digital door hardware, and hardwired smoke and carbon monoxide detectors. The building was constructed in 1961 and has a walk score of 12, a bike score of 36, and a transit score of 29.
Key Highlights
- Three‑unit multifamily property renovated in 2018
- 30‑year composition roof and updated HVAC systems
- Coin‑operated laundry room with two washers and two dryers
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
$33,044
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
4.50%
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%
$660,880
$660.9K
Cap Rate 7%
$472,057
$472.1K
Cap Rate 9%
$367,156
$367.2K
Market Conditions
NOI Build-Up for 2,694 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
$49.5K $18.36/SF
− Vacancy
−$2.3K −$0.84/SF
EGI
$47.2K $17.52/SF
− OpEx
−$14.2K −$5.26/SF
NOI
$33.0K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$660,880
Cap Rate 7%
$472,057
Cap Rate 9%
$367,156
Alternative Uses
Best Use
Multifamily LT 5
$472.1K
$413.1K – $550.7K
NOI $33,044 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$420.8K
$368.2K – $490.9K
NOI $29,453 @ 7.0% cap · market cap 4.01%
Theoretical Best
Healthcare Medical
$851.1K
$744.8K – $993.0K
NOI $59,580 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
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 residential property with updated interiors, private fenced patios, and on-site tenant laundry.
Where is this triplex located?
The property is located at 1763 Woodland Dr Hanford, CA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Three‑unit multifamily property renovated in 2018; 30‑year composition roof and updated HVAC systems; Coin‑operated laundry room with two washers and two dryers
