The subject property consists of 15 residential units, all of which contain 390 sq. ft. each (5,863 total sq ft), with all units contained within eight building structures (seven duplexes and one building housing one additional unit) built in 1926. Parcel size is approximately 33,105 sq ft. This building spatial configuration provides for a large open area currently used by tenants as open area, but is available for the following ADU additions. On September 19th of this year, SB 1211 was signed into law, which affords an owner of a multifamily property the ability to secure entitlements for the same number of ADUs as the existing residential units, up to a maximum of 8 ADUs.The property currently generates $17,225 ($1,148/unit average) for a total gross annual rental income of $206,700, making the financial metrics a 12.8 GRM & a 4.6% cap rate.
|
DAYS ON MARKET
|
3
|
LAST UPDATED
|
11/11/2024
|
|
TRACT
|
Ventura: Other
|
YEAR BUILT
|
1926
|
|
COMMUNITY
|
Ventura
|
GARAGE SPACES
|
15.0
|
|
COUNTY
|
Ventura
|
STATUS
|
Conditional
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
None |
| AREA |
Ventura |
| GARAGE |
Garage, Yes |
| HEAT |
Wall Furnace |
| HOA DUES |
0 |
| LOT |
0.76 acre(s) |
| LOT DESCRIPTION |
Sprinklers None |
| PARKING |
Garage |
| POOL DESCRIPTION |
None |
| SUBDIVISION |
Ventura: Other |
| VIEW DESCRIPTION |
None |
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Listed with Apartment Investment Specialis
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 11/13/24 7:10 PM PST 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
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