473 477 W Ramona ST Save Request In-Person Tour Request Virtual Tour
Ventura,CA 93001
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Ventura: Other
MLS Listing ID V1-26683
HOA Y/N No
Year Built 1926
Lot Size 0.760 Acres
Property Description
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.
Location
State CA
County Ventura
Area Vtu - Ventura
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Garage Garage
Garage Spaces 15.0
Garage Description 15.0
Fence Stucco Wall
Pool None
Community Features Street Lights,Sidewalks
View Y/N No
View None
Parking Type Garage
Total Parking Spaces 20
Private Pool No
Building
Lot Description Sprinklers None
Others
Senior Community No
Tax ID 0710010340
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard