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176-182 W Ramona St 16 Unit Apartment Building $5,090,000 ($318,125/Unit) 5.65% Cap Rate Ventura, CA 93001
Investment Highlights
- Value add opportunity to build approximately FOUR ADUs by right.
- 8 of 16 units have been completely renovated to include new kitchens, bathrooms, flooring, recessed lighting, modern fixtures, and appliances
- Onsite laundry and landscaped outdoor area for tenants to enjoy
- Comprised of all two bedroom/one bath units.
- Three separate structures on spacious 22,214 sq. ft. lot
- Approximately 1 mile to Downtown Ventura and 2.5 miles to the beach.
Executive Summary
This value-add investment opportunity offers the potential to build approximately four additional ADUs by right on a spacious 22,214 sq. ft. lot, providing significant future upside. The property consists entirely of two-bedroom, one-bathroom units, with 8 of the 16 units already completely gut renovated featuring new kitchens and bathrooms, updated flooring, recessed lighting, modern fixtures, and stainless steel appliances. The asset is spread across three separate structures and includes on-site laundry as well as a landscaped outdoor area for tenants to enjoy. Ideally located approximately one mile from Downtown Ventura and just 2.5 miles from the beach, the property sits in the historic Ventura Avenue district and is surrounded by several pending development projects. Ventura is currently experiencing a severe shortage of workforce housing and competing rental inventory, while most new developments in the area are luxury-oriented and command premium rents. The property is subject to California State Rent Control, which currently allows for annual rent increases of up to 7.7% in Ventura, providing investors with steady income growth potential.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts In Escrow
| Price | $5,090,000 | Apartment Style | Low-Rise |
| Price Per Unit | $318,125 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 5.65% | Building Size | 11,444 SF |
| Gross Rent Multiplier | 10.99 | Average Occupancy | 97% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.4/1,000 SF |
| Zoning | R3-2, Ventura | ||
| Price | $5,090,000 |
| Price Per Unit | $318,125 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Gross Rent Multiplier | 10.99 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 11,444 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.4/1,000 SF |
| Zoning | R3-2, Ventura |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 700 |
| 3+2 | 2 | - | 950 |
| 4+2 | 2 | - | 1,000 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,094,502 | |
| Land Assessment | $909,246 | Total Assessment | $3,003,748 |
Property Taxes
Parcel Numbers
Land Assessment
$909,246
Improvements Assessment
$2,094,502
Total Assessment
$3,003,748
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176-182 W Ramona St
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