1208 E Ventura St 10 Unit Apartment Building $3,300,000 ($330,000/Unit) 4.38% Cap Rate Santa Paula, CA 93060

Property Description:
A well-established, multi-family apartment building in an established residential neighborhood walking distance to Santa Paula's historic district. The apartment complex offers stability for an investor, ideal for investors seeking durable cash flow in a supply-constrained Ventura County market. All 10 units are desirable 2 bedroom + 1 bathroom configurations with a strong history of full occupancy. Two of the units have been upgraded and are achieving $2,200 in monthly rent providing a blueprint for an investor willing to capitalize on the upside. A community laundry room provides additional income and could be expanded by adding more machines. Each unit has a covered parking space. Low maintenance landscaping. Santa Paula currently does not have any additional rent control laws beyond what the State requires.
Historic downtown Santa Paula, is only a short walk from the subject property. Downtown Santa Paula boasts numerous restaurants, retail, services, museums and entertainment destinations. The property is served by excellent access to the 150 highway and 126 freeway. Many of Santa Paula’s fine schools, parks and sports fields are close by.
Market Description
The City of Santa Paula, and Ventura County overall, continue to be in short supply of housing. The difficulty in permitting new projects throughout Ventura County and financing those developments means existing assets with remodel potential are in higher demand.

The City of Santa Paula Description:
The City of Santa Paula is serviced by Highway 126 which connects to Los Angeles via the 5 Freeway and to the Ventura. The City of Santa Paula is located approximately 65 miles northwest of Los Angeles, 30 miles from Valencia and approximately 14 miles east of Ventura and the Pacific Ocean coastline. Santa Paula is in the geographical center of Ventura County and has a rich historical agricultural and oil history highlighted by numerous downtown museums. The Santa Clara river flows through the city, which is surrounded by rolling hills and mountain peaks. The numerous orange, lemon and avocado groves quickly remind you why Santa Paula is referred to as the “Citrus Capital of the World.” The heart of the City is the Historic Downtown Santa Paula District with its vibrant cultural heritage, numerous restaurants, shops and services and lively entertainment.