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Listed by Craig Lieberman • Apartment Investment Specialis
$ 2,650,000
Est. payment /mo
Pending
473 W Ramona Street Ventura, CA 93001
33,105 SqFt
UPDATED:
11/13/2024 06:10 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 33,105 sqft
Price per Sqft $80
MLS Listing ID CRV1-26683
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1926
Lot Size 0.760 Acres
Property Description
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.
Location
State CA
County Ventura
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry No Hookups
Exterior
View None
Building
Lot Description Other
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