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407 N Ojai RD Santa Paula, CA 93060
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Key Details
Sold Price $2,691,620
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID V1-20740
Sold Date 07/16/24
HOA Y/N No
Year Built 1940
Lot Size 0.397 Acres
Property Description
Completely renovated 'inside and out' in 2022, this 5% cap 8-unit property is situated within a gated community that offers its tenant community privacy and security. With its highly desired individual 3 Bedroom cottage-style units that offer laundry hook-ups, this apartment community has been able to generate generous rents of about $2,400/unit. Its gross annual rent of $232,000 on the asking price of $2,895,000 equates to a 12.5 GRM. Specific property updates include all new electrical, plumbing, interior flooring, walls, bathrooms, and kitchens. This property will undoubtedly appeal to those investors seeking a 'turnkey' investment in the strong rental community of Santa Paula.
Location
State CA
County Ventura
Area Spl - Santa Paula
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Garage None
Fence Wood
Pool None
Community Features Street Lights, Sidewalks
View Y/N No
View None
Parking Type None
Private Pool No
Building
Lot Description Sprinklers None
Others
Senior Community No
Tax ID 1010141265
Acceptable Financing Cash
Listing Terms Cash
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Nicholas Henry • Beachside Partners
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