Three-Residence Triplex
34442 Millwood Drive, Woodlake, CA 93286
For Sale
$439,000
Residential Income, Woodlake, CA
Property Size2,700 SF
Lot Size0.56 Acres
Price / SF$162.59
Days on Market151
Property Features for 34442 Millwood Drive
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Elisa G Bahena · License #02156080
(559) 510-6082
Added: Jun 12
Changed: Oct 25
Last Checked: Nov 9 at 9:06AM
MLS# 242293
Copyright © 2026 Tulare County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,700-square-foot residential income property includes three separate residences, each configured with 2 bedrooms and 1 bathroom. The improvements date to 1957 and use wall furnaces for heating. The property is offered in its present condition, with tenants in place and access to the homes restricted during marketing.
Water service currently comes from a shared well, while a replacement well has been installed on the property. The connection process is underway and requires final plumbing and electrical work before the new system can be placed into service. Wastewater is handled by a septic tank. The property encompasses 0.56 acres in Woodlake, California.
Water service currently comes from a shared well, while a replacement well has been installed on the property. The connection process is underway and requires final plumbing and electrical work before the new system can be placed into service. Wastewater is handled by a septic tank. The property encompasses 0.56 acres in Woodlake, California.
Key Highlights
- Three residences, each with 2 bedrooms and 1 bathroom
- 2,700 square feet of total property size on 0.56 acres
- New well installed; final plumbing and electrical connections remain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,397
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,940
$487.9K
Cap Rate 7%
$348,529
$348.5K
Cap Rate 9%
$271,078
$271.1K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$37.3K $13.80/SF
− Vacancy
−$2.4K −$0.89/SF
EGI
$34.9K $12.91/SF
− OpEx
−$10.5K −$3.87/SF
NOI
$24.4K $9.04/SF
Area
Tulare County, CA
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,940
Cap Rate 7%
$348,529
Cap Rate 9%
$271,078
Alternative Uses
Best Use
Multifamily LT 5
$348.5K
$305.0K – $406.6K
NOI $24,397 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$320.3K
$280.3K – $373.7K
NOI $22,421 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$820.1K
$717.6K – $956.8K
NOI $57,409 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
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Business Placement
Demographics for 93286, CA
9,735
Population
3,074
Households
3.2
Avg Household Size
33
Median Age
12%
College-Educated
61%
High-School Grad
72.6 sq mi
ZIP Area
134
Density / Sq Mi
$47,242
Median Household Income
$28,711
Median Earnings
$983
Median Rent
$288,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence offers a two-bedroom, one-bathroom layout with shared well and septic service.
Where is this triplex located?
The property is located at 34442 Millwood Drive Woodlake, CA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Three residences, each with 2 bedrooms and 1 bathroom; 2,700 square feet of total property size on 0.56 acres; New well installed; final plumbing and electrical connections remain
