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OHM Beach Lofts 5615 Carpinteria Ave 28 Unit Apartment Building $6,750,000 ($241,071/Unit) Carpinteria, CA 93013
Investment Highlights
- 28-unit turn-key asset.
- Unit mix: 26 studios, (1) 1BD/1BA & (1) 2BD/1BA.
- Parking: 30 spaces.
- $241,000/unit.
- 7 storage lockers in attic (more could be added).
- Full renovation in 2016.
Executive Summary
2016 Full Renovation—Reduced CapEx Risk with Strong Market Positioning.
Rare opportunity to acquire a stabilized 28-unit multifamily asset in Carpinteria—one of Southern California’s most supply-constrained coastal rental markets. The property features an efficient mix of 26 studios, one one-bedroom, and one two-bedroom unit, well aligned with consistent local demand. A comprehensive 2016 renovation positions the asset as a turnkey opportunity with minimal deferred maintenance and strong in-place income.
Strategically located along Carpinteria Avenue, the property offers convenient access to major employment hubs, coastal amenities, and regional transportation corridors, including nearby Santa Barbara. With new development constrained across the California South Coast, the asset benefits from high barriers to entry—supporting durable income, operational stability, and long-term appreciation potential in a premier coastal infill market.
Rare opportunity to acquire a stabilized 28-unit multifamily asset in Carpinteria—one of Southern California’s most supply-constrained coastal rental markets. The property features an efficient mix of 26 studios, one one-bedroom, and one two-bedroom unit, well aligned with consistent local demand. A comprehensive 2016 renovation positions the asset as a turnkey opportunity with minimal deferred maintenance and strong in-place income.
Strategically located along Carpinteria Avenue, the property offers convenient access to major employment hubs, coastal amenities, and regional transportation corridors, including nearby Santa Barbara. With new development constrained across the California South Coast, the asset benefits from high barriers to entry—supporting durable income, operational stability, and long-term appreciation potential in a premier coastal infill market.
Property Facts
| Price | $6,750,000 | Building Class | C |
| Price Per Unit | $241,071 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 10,150 SF |
| No. Units | 28 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CHOD | ||
| Price | $6,750,000 |
| Price Per Unit | $241,071 |
| Sale Type | Investment |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 10,150 SF |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | CHOD |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | 753 |
| 2+1.5 | 14 | - | 872 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 001-170-002 | Improvements Assessment | $3,191,609 |
| Land Assessment | $4,352,195 | Total Assessment | $7,543,804 |
Property Taxes
Parcel Number
001-170-002
Land Assessment
$4,352,195
Improvements Assessment
$3,191,609
Total Assessment
$7,543,804
Contacts
-
Gene Deering -
Paul Gamberdella -
Frank Gamberdella -
Radius Commercial Real Estate
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OHM Beach Lofts | 5615 Carpinteria Ave
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