601 Grand Ave | Ojai, CA 93023
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
601 Grand Ave
Ojai, CA 93023
514-516 E Oak St · Multifamily Property For Sale
·
32 Units
INVESTMENT HIGHLIGHTS
- Generational Offering: First time on the market since the 1960s; long-term family ownership.
- Significant Rent Upside: Current average rents of $1,890/unit trail market by ~32 percent, with pro forma NOI of $702,178 (8.12 percent cap rate).
- Desirable Unit Mix: 20 × two-bed/one-bath (63 percent) and 11 × one-bed/one-bath (34 percent) units; average 772 SF.
- Expansive Land Holding: Two adjacent parcels combine for 2.75 acres in the heart of Ojai.
- ADU Expansion Potential: One studio ADU conversion available immediately (non-residential space). Up to 16 detached ADUs allowed under SB 1211 (2025).
- Renovated Units Demonstrate Premiums: Granite countertops, stainless appliances, recessed lighting, upgraded baths in select units.
PROPERTY FACTS
| No. Units | 32 | Lot Size | 2.75 AC |
| Property Type | Multifamily | Building Size | 24,708 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1965 |
| Building Class | C | ||
| Zoning | MULT | ||
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.75 AC |
| Building Size | 24,708 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Zoning | MULT |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Yard
- Freezer
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | - | 625 |
| 2+1 | 21 | - | 850 |
PROPERTY TAXES
| Parcel Number | 022-0-090-450 | Improvements Assessment | $3,628,840 |
| Land Assessment | $1,358,347 | Total Assessment | $4,987,187 |
PROPERTY TAXES
Parcel Number
022-0-090-450
Land Assessment
$1,358,347
Improvements Assessment
$3,628,840
Total Assessment
$4,987,187
1 of 1
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
