473 W Ramona Street
Ventura, CA, 93001
$2,650,000
Beds
0 Baths
SqFt
0.76 Acres
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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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473 W Ramona Street
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