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.
Property Details
Price:
$2,650,000
MLS #:
V1-26683
Status:
Active Under Contract
Baths:
0
Address:
473 W Ramona Street
Type:
Residential Income
Subdivision:
Ventura: Other
Neighborhood:
vtuventura
City:
Ventura
Listed Date:
Nov 11, 2024
State:
CA
ZIP:
93001
Lot Size:
33,105 sqft / 0.76 acres (approx)
Year Built:
1926
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Schools
Interior
Appliances
None
Cooling
None
Fireplace Features
None
Heating
Wall Furnace
Exterior
Community Features
Sidewalks, Street Lights
Fencing
Stucco Wall
Garage Spaces
15.00
Lot Features
Sprinklers None
Parking Features
Garage
Parking Spots
20.00
Pool Features
None
Spa Features
None
View
None
Financial
Association Fee
0.00
Map
Community
- Address473 W Ramona Street Ventura CA
- AreaVTU – Ventura
- SubdivisionVentura: Other
- CityVentura
- CountyVentura
- Zip Code93001
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Courtesy of Apartment Investment Specialis. 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.
473 W Ramona Street
Ventura, CA
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