$1,875,000
$1,950,000
3.8%For more information regarding the value of a property, please contact us for a free consultation.
700 Ojai RD Santa Paula, CA 93060
0.88 Acres Lot
Key Details
Sold Price $1,875,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID V1-7000
Sold Date 10/15/21
HOA Y/N No
Year Built 1971
Lot Size 0.880 Acres
Property Description
New price of $1,950,000 which comes to 13.1 GRM, 4.35% CAP rate on actuals (11.0 GRM, 5.73% CAP on market rents) for this charming value-add building in Santa Paula. 700 Ojai Road is an 8-unit apartment building situated on a .88 acre lot with the potential for a new owner to both significantly increase the rental income as well as to potentially add units to the large R-2 zoned lot. Pleasant layout featuring a 1-story U-shaped building framed by 3-large trees and a spacious central grass courtyard. Ideal unit mix with (8) 2BD/1BA apartments and each has its own laundry hookups, water heaters and front and rear door access. Separate electric and gas meters. Carport parking. Located in upper Santa Paula in mostly single-family neighborhood close to Santa Paula Hospital, Mill Park and short drive away from downtown Main Street. The R-2 zoning allows for a maximum of 15 units per acre.
Location
State CA
County Ventura
Area Spl - Santa Paula
Zoning R2
Interior
Heating Wall Furnace
Cooling None
Fireplace Yes
Appliance Gas Range
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Parking Features Carport
Fence None
Pool None
Community Features Biking
View Y/N No
View None
Total Parking Spaces 8
Private Pool No
Building
Lot Description Sprinklers None
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Others
Senior Community No
Tax ID 1000094025
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Steven Snyder • Oaktree Property Investments