117 Elliot Street, Woodland, CA 95695, Woodland, 95695 - 9 bed, 3 bath
ACTIVE$925,000$2,925/sqft
117 Elliot Street, Woodland, CA 95695
9Beds
3Baths
2,925Sqft
17,424Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Investment Opportunity: The property is explicitly marketed as an outstanding investment opportunity, featuring three individual, detached homes on a single lot, ideal for generating rental income.
Top Cons:
Property Age and Potential Updates: Built in 1965, the property may require significant updates to systems (e.g., plumbing, electrical, HVAC) and interior finishes to meet modern tenant expectations and maximize rental value.
Compared to the nearby listings
Price:$925.0K vs avg $715.0K (+$210,000)50%
Size:2,925 sqft vs avg 1,462.5 sqft50%
Price/sqft:$316 vs avg $15850%
More Insights
Built in 1965 (61 years old).
Condition: Built in 1965, this property is nearly 60 years old. While one of the units features a recently updated kitchen with modern white cabinets, granite countertops, and stainless steel appliances, and a modern bathroom, another unit clearly shows a dated kitchen with older brown cabinets and appliances, and an older bathroom. The property exhibits a mix of updated and original/older renovated components. The overall condition suggests regular upkeep but with significant portions showing their age and requiring minor to moderate updates to meet modern standards, aligning with the 'Fair' category.
Year Built
1965
Close
-
List price
$925K
Original List price
-
Price/Sqft
$316
HOA
$0
Days on market
-
Sold On
-
MLS number
225125134
Home ConditionFair
Features
View-
About this home
This property offers an outstanding investment opportunity with three individual homes located on a generous 17,424 sq ft lot in one of Woodland's most sought-after neighborhoods. Each detached single-family residence includes three bedrooms, one bathroom, a single-car garage, and approximately 975 sq ft of living space, providing both privacy and comfort for tenants. Conveniently positioned just minutes from downtown Woodland, the property is situated in a quiet, well-established area and is fully leased, enhancing its appeal for investors. This multi-unit asset presents a rare opportunity in today's market.
R
Robin Baimas
Listing Agent
Price History
Date
Event
Price
10/25/24
Sold
$950,000
Condition Rating
Fair
Built in 1965, this property is nearly 60 years old. While one of the units features a recently updated kitchen with modern white cabinets, granite countertops, and stainless steel appliances, and a modern bathroom, another unit clearly shows a dated kitchen with older brown cabinets and appliances, and an older bathroom. The property exhibits a mix of updated and original/older renovated components. The overall condition suggests regular upkeep but with significant portions showing their age and requiring minor to moderate updates to meet modern standards, aligning with the 'Fair' category.
Pros & Cons
Pros
Strong Investment Opportunity: The property is explicitly marketed as an outstanding investment opportunity, featuring three individual, detached homes on a single lot, ideal for generating rental income.
Fully Leased Status: All three units are currently fully leased, ensuring immediate income generation and demonstrating proven rental demand, which is highly attractive to investors.
Desirable Location: Situated in a quiet, well-established, and sought-after neighborhood, just minutes from downtown Woodland, enhancing tenant appeal and property value.
Generous Lot Size: A substantial 17,424 sq ft lot provides ample space for the three detached homes, offering privacy for tenants and potential for future enhancements or outdoor amenities.
Detached Units for Privacy: Each residence is a detached single-family home, offering superior privacy and comfort for tenants compared to attached multi-unit dwellings.
Cons
Property Age and Potential Updates: Built in 1965, the property may require significant updates to systems (e.g., plumbing, electrical, HVAC) and interior finishes to meet modern tenant expectations and maximize rental value.
Limited Bathroom Count per Unit: Each 3-bedroom unit features only one bathroom, which can be a drawback for families or multiple occupants, potentially limiting the tenant pool or rental income potential.
Recent Price Reduction: The current list price of $925,000 is lower than a previous sale at $950,000, which could indicate market resistance or a need for price adjustment to attract buyers.