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$ 8,995,000
Est. payment | /mo
55 Beds
30 Baths
21,840 SqFt
$ 8,995,000
Est. payment | /mo
55 Beds
30 Baths
21,840 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 21,840 sqft
Price per Sqft $411
MLS Listing ID 26959445
Bedrooms 55
HOA Y/N No
Year Built 1972
Lot Size 0.820 Acres
Property Description
401433 W. Ramona Street is a 17-unit multifamily investment opportunity located in Ventura's highly supply-constrained rental market. The property consists of approximately 21,840 square feet situated on a 0.82-acre parcel and is currently operating at full occupancy. Built in 1972 and zoned R3-5 (Multiple Family Residential), the asset offers investors a stable income stream with significant long-term upside through rent growth, unit renovations, operational efficiencies, and potential density enhancements. Immediate operational stability. Strong rental market supports continued rent growth.Investment highlights% Occupied Coastal California Multifamily Asset Stabilized 17-unit apartment community with strong in-place cash flow in one of Southern California's most supply-constrained rental markets.Large Family-Oriented Unit Mix Consists primarily of spacious 3-bedroom and 4-bedroom units, a highly desirable product type with limited competing inventory in Ventura.Strong Rent Growth Potential Opportunity to increase rents through interior renovations, utility reimbursement programs (RUBS), ancillary income, and continued market appreciation. Ventura continues to experience housing shortages and elevated rental demand.No Local Rent Control Advantage Ventura is not subject to the more restrictive rent-control regulations found in many California coastal markets, providing greater operational flexibility for ownership.Value-Add Income Opportunities Existing garages, carports, and gated parking areas may provide additional revenue opportunities through storage, parking income, or operational enhancements.Large 0.82-Acre Site Significant land component for a 17-unit asset, offering long-term redevelopment, density, or ADU potential subject to city approvals and zoning requirements.Gated Community with On-Site Management Features Attractive tenant amenities include gated access, on-site management capabilities, garages, carports, and washer/dryer hookups.Inflation Hedge Through Residential Real Estate Multifamily assets in coastal California have historically benefited from strong occupancy, recurring rent growth, and limited new housing supply.
Location
State CA
County Ventura
Area Vc21 - West Of California To City Limits
Zoning R3-5
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Assigned, Carport
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0710010490
Special Listing Condition Standard
Listed by Gil Corber Propnation, Inc. #01378982
Nearby Locations
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Carlos Echegaray
Broker Lic# DRE 02006401