154 El Medio St - Apartments FOR SALE


Ventura, CA 93001
$1,295,000 USD
805-320-6646
154 El Medio St, Ventura, CA for Sale
$1,295,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

154 El Medio St
Ventura, CA 93001


HIGHLIGHTS

  • Close to the Ventura Avenue Commercial Corridor
  • Unused Garage Presents ADU Potential
  • Large units

OVERVIEW

Well maintained 1990 triplex located just off Ventura Avenue, offering a strong investment profile with three spacious 3 bed/2 bath units. Units 150 and 152 are positioned within a two story front structure, while Unit 154 occupies a single story rear building. The property is in good overall condition, with Unit 154 recently updated with new flooring, interior paint, upgraded door hardware, and modern light fixtures. Current Section 8 rents are as follows: Unit 150 at $3,100, Unit 152 at $2,850, and Unit 154 at $2,800, for a total monthly income of $8,750, or approximately $105,000 annually. This property has very little in operating expenses with units individually metered for gas and electric, equating to an annual expense operating budget of only $6,730 annually The detached garage at the rear of the parcel is currently unused. While there is no assurance that the existing structure can be converted into a one or two story ADU, the option may exist to remove the current building and construct a new ADU in its place, with the potential to extend the concrete driveway to provide dedicated parking for the new unit. Buyers are advised to conduct their own due diligence with the appropriate agencies to determine feasibility and potential for any such value add development.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$400 USD /SF

# OF UNITS

3

PRICE/UNIT

$431,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Triplex Ventura

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

R3-5

APN/PARCEL ID

069-0-122-020

ASK ABOUT THIS PROPERTY

Craig LiebermanApartment Investment SpecialistsMore Info
805-320-6646

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Craig LiebermanApartment Investment SpecialistsMore Info
805-320-6646

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.