For Sale
$425,000

1210 Green StHanford, CA 93230

1955 Triplex, 100% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
115
This Hanford, CA triplex presents a compelling investment opportunity. Built in 1955, this single-story, 2,207 square foot property sits on a 10,019 square foot lot (APN 010113011000) and boasts a current 4.39% cap rate, with a pro-forma cap rate of 4.83%. The property features three units, each with a private yard and carport, and is currently 100% occupied. Two units are Section 8, with tenants residing for over 12-17 years, offering significant rental stability. Rent increases for 2025 have already been implemented for two units. The property enjoys separately metered gas and electric for each unit, contributing to efficient utility management. The asking price is $425,000, translating to a price per square foot of $148,333. The current Net Operating Income (NOI) is $18,642, projected to increase to $20,520. The property's well-maintained condition, long-term tenants, and potential for increased income make it an attractive prospect for owner-user financing. The clean fences and common areas further enhance the property's appeal. This is a rare opportunity to acquire a stable, cash-flowing multifamily property in a desirable location.

Highlights

  • $425,000 asking price for this Hanford, CA triplex.
  • Multifamily investment opportunity with a 4.39% cap rate and a pro-forma cap rate of 4.83%.
  • 100% occupancy with a current NOI of $18,642 and a pro-forma NOI of $20,520.
  • 2,207 square feet on a 10,019 square foot lot, built in 1955.
  • Property features three units, each with a private yard and carport, and separately metered utilities.
  • Two units are Section 8 with long-term tenants.

Property Details for 1210 Green St

Property type
Apartment buildings
Square Feet
2,207 SF
Class
D
Year Built
1955
Stories
1

Location Insight

City
Hanford
County
Kings
State
California
Latitude
36.337675251437
Longitude
-119.64112681879
1210 Green St, Hanford, California

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1210 Green St
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