Rare opportunity to acquire midsize apartment building in beautiful downtown Ventura 1 block north of Main Street. 57 NorthAnn Street, comprised of (20) 1BD units, features a central secure front door entry leading to 3 stories accessed by elevatorwith partial ocean views from the 2nd and 3rd floors. Potential to add additional unit by converting unused community room(approximately 350 SF with kitchen) on first floor. There are 10 tuck-under carport spaces that may offer ADU conversionpotential for additional units plus 3 uncovered parking spaces at rear. Owner pays water/sewer, trash and hot water whiletenants pay their own electricity and gas. There are 2 coin-operated laundry rooms. Current rental rates are below marketoffering excellent upside opportunity for the astute investor. Location does not get much better with tenants being able to walkto shopping, eating, dining and entertainment options on Main Street along with parks, schools, beaches.**5.0% CAP rate, 12.2 GRM on current rents w/ rental rate upside subject to AB1482**
|
DAYS ON MARKET
|
52
|
LAST UPDATED
|
9/20/2024
|
|
TRACT
|
Not Applicable
|
YEAR BUILT
|
1972
|
|
COMMUNITY
|
Ventura
|
COUNTY
|
Ventura
|
|
STATUS
|
Conditional
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
None |
| APPLIANCES |
Gas Oven |
| AREA |
Ventura |
| GARAGE |
Assigned |
| HEAT |
Wall Furnace |
| HOA DUES |
0 |
| INTERIOR |
Elevator |
| LOT |
0.38 acre(s) |
| LOT DESCRIPTION |
Sprinklers None |
| PARKING |
Assigned |
| POOL DESCRIPTION |
None |
| STORIES |
2 |
| SUBDIVISION |
Not Applicable |
| VIEW |
Yes |
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Listed with Beachside Partners
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 6:21 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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