Under contract
Active Under Contract
473 477 W Ramona Street
Ventura CA, 93001
$2,650,000
Under contract
Active Under Contract
Residential
Built in 1926
Listed by Craig Lieberman with Apartment Investment Specialis (805) 320-6646
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.
V1-26683
MLSⓇ ID
November 11, 2024
Listed
December 5, 2024
Updated
Map
473 477 W Ramona Street
Ventura CA, 93001
Interior Features
Laundry Description
None
Fireplace
No
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.76 Acres
Lot Features
Sprinklers None
Other Property Details
Area Name
VTU - Ventura
Days on Market
23
Garage
Yes
Garage Spaces
15
Parking
Garage
Parking Total
20
View
No
View Description
None
County
Ventura
Pool
No
Pool Features
None
Listing Contact: (805) 320-6646
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/5/2024 at 12:16 PM UTC