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852 N Ventura Ave 11 Unit Apartment Building $2,385,000 ($216,818/Unit) 5.17% Cap Rate Ventura, CA 93001
Executive Summary
Built in 1926, this 11-unit apartment property situated on a 12,196 square-foot parcel, contains unique individual 425 square-foot one-bedroom – one-bathroom “casita” units that are separately metered for gas and electricity with grass-groomed central courtyard surrounded by decorative perimeter fencing providing its tenant community with a comfortable private environment, and located adjacent to the new Kellogg.
The roofs were replaced on each individual structure in 2019 that has a transferable 7-year labor and 30-year manufacturer’s warranty. In 2022, the exterior of all buildings was painted. These updates have contributed to the much younger effective age of this property than its chronological age.
Significant financial highlights for this property are its GRM and Price-Per-Unit, both of which are among the lowest compared to recent sales, making this property’s metrics financially compelling to investors hoping to maximize cash flow.
The roofs were replaced on each individual structure in 2019 that has a transferable 7-year labor and 30-year manufacturer’s warranty. In 2022, the exterior of all buildings was painted. These updates have contributed to the much younger effective age of this property than its chronological age.
Significant financial highlights for this property are its GRM and Price-Per-Unit, both of which are among the lowest compared to recent sales, making this property’s metrics financially compelling to investors hoping to maximize cash flow.
Property Facts Under Contract
| Price | $2,385,000 | Apartment Style | Garden |
| Price Per Unit | $216,818 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 5.17% | Building Size | 4,664 SF |
| Gross Rent Multiplier | 11.9 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 2.36/1,000 SF |
| Zoning | C2 | ||
| Price | $2,385,000 |
| Price Per Unit | $216,818 |
| Sale Type | Investment |
| Cap Rate | 5.17% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 4,664 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1926 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | C2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | 424 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 071-0-031-120 | Improvements Assessment | $1,225,858 |
| Land Assessment | $539,373 | Total Assessment | $1,765,231 |
Property Taxes
Parcel Number
071-0-031-120
Land Assessment
$539,373
Improvements Assessment
$1,225,858
Total Assessment
$1,765,231
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852 N Ventura Ave