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**
Property Details
Price:
$5,195,000
MLS #:
V1-25646
Status:
Active Under Contract
Baths:
0
Address:
57 N Ann Street
Type:
Residential Income
Neighborhood:
vtuventura
City:
Ventura
Listed Date:
Sep 9, 2024
State:
CA
ZIP:
93001
Lot Size:
16,500 sqft / 0.38 acres (approx)
Year Built:
1972
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Schools
Interior
Appliances
Gas Oven
Cooling
None
Fireplace Features
None
Heating
Wall Furnace
Interior Features
Elevator
Exterior
Community Features
Urban
Fencing
None
Garage Spaces
0.00
Lot Features
Sprinklers None
Parking Features
Assigned
Parking Spots
13.00
Pool Features
None
Spa Features
None
Stories Total
2
Financial
Association Fee
0.00
Map
Community
- Address57 N Ann Street Ventura CA
- AreaVTU – Ventura
- CityVentura
- CountyVentura
- Zip Code93001
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Courtesy of Beachside Partners. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
57 N Ann Street
Ventura, CA
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