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Additional interior ADUs may be created through the conversion of existing storage or utility spaces, further increasing long-term density and returns.At the current list price of $8,650,000 ($270,313/unit | $350/SF), the portfolio generates a 5.37% CAP rate on current income with a clear path to an 8.12% CAP rate on pro forma rents, offering both immediate cash flow and significant long-term upside. The Grand East Oak Apartments are ideally located in the heart of Ojai, one of California's most desirable lifestyle markets. Nestled in a tranquil valley surrounded by the Topa Topa Mountains and adjacent to the Los Padres National Forest, Ojai has cultivated a global reputation as a sanctuary for wellness, arts, and outdoor living. Ojai's unique identity is fiercely protected. The city maintains a ban on chain stores, ensuring a vibrant downtown of independent boutiques, art galleries, and restaurants. With a median home value of $1.4 million, many residents are renters by necessity despite above-average household incomes. Vacancy remains structurally low (Ventura County multifamily vacancy ~3.8%, Ojai tighter), and year-over-year rent growth has consistently outpaced regional and national averages. Regionally, Ojai offers a rare \"best of both worlds\" proposition: a serene, small-town lifestyle with easy access to major employment centers. 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This marks the property's first offering in nearly 40 years, an exceptionally rare opportunity to acquire a well-maintained coastal apartment asset in an irreplaceable infill location where multifamily turnover is extremely limited and barriers to entry remain high. The property features an attractive two-story design centered around a landscaped courtyard and pool on a half-acre parcel. Units average approximately 900 square feet and include a mix of one- and two-bedroom layouts, many with private patios or balconies that take advantage of abundant natural light, mountain views, and open-air living. Two units will be delivered fully furnished at closing, offering flexibility for a buyer to operate them as short-term rentals or premium long-term offerings. Three apartments, plus the on-site manager's unit, will be delivered vacant, allowing an investor to immediately reposition to market rents and realize approximately 18% rental upside through natural turnover and light renovation. In addition, laundry and storage income are not currently reflected in the financials, offering further incremental potential.Select units qualify for rent increases that will add approximately $500 per month ($6,000 annually). The seller will implement these adjustments during escrow, allowing the buyer to close with the higher income in place. This translates to roughly $60,000$75,000 in added value based on the pro forma GRM and supports stronger loan proceeds through increased NOI.Beyond rental growth, the property's PRD20 zoning and lot size support ADU feasibility, subject to local Coastal Zone review. The City of Carpinteria has adopted ADU ordinances consistent with California state law, providing a potential long-term avenue for incremental unit yield or flexible use. Located just half a block from Carpinteria State Beach, known as \"The World's Safest Beach,\" the property is within proximinty distance of parks, trails, and downtown Linden Avenue's boutique shops and upscale restaurants. Residents enjoy proximity to the Amtrak station, regional job centers in Santa Barbara and Ventura, and the oceanfront neighborhoods of Sandyland Cove and Padaro Lane, home to multimillion-dollar estates.With its resort-style character, low-vacancy submarket, and multiple paths for income growth and enhancement, 180 Holly Avenue offers investors a rare blend of stability, value-add potential, and long-term appreciation in one of California's most tightly held coastal markets. 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Rarely available, this updated and meticulously kept 9+ unit luxury multi-family property very close to East Beach includes an extra-large owners' unit facing the water. Four apartments have 2 bedrooms / 2 baths; 4 have 2 bedrooms /1 bath; 1 has 1 bedroom / 1 bath; and there is an extra manager's studio. The property features 9 separate single car garages along with storage closets for each apartment. Clean, spacious, beautiful, and modern, every unit in this building is desirable. The incomparable East Beach neighborhood one block from the Pacific Ocean is a rare opportunity for buyers. There is plenty of potential on this R-4 lot in what may become one of the only short term neighborhoods in town. 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Multi Family in Ventura
Best Match
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Multi Family
Ventura
Price
Location:Ventura
Category:Multi Family
633 Meta Street, Oxnard, CA64839533595651120
633 Meta Street, Oxnard, CA
633 Meta St
$1,995,000
1132 1142 Pittsfield Lane, Ventura, CA64830058474881121
1132 1142 Pittsfield Lane, Ventura, CA
1142 Pittsfield Ln
$2,350,000
281 W Main Street, Ventura, CA64820103904770122
281 W Main Street, Ventura, CA
281 W Main St
$2,599,000
1750 Prospect, Santa Barbara, CA64830363014786123
1750 Prospect, Santa Barbara, CA
1750 Prospect Ave
$2,295,000
3025 Ocean Drive, Oxnard, CA64818492584450124
3025 Ocean Drive, Oxnard, CA
3025 Ocean Dr
$2,800,000
1239 S C Street, Oxnard, CA64817008252417125
1239 S C Street, Oxnard, CA
1239 S C St
$2,950,000
333 E Anapamu Street, Santa Barbara, CA64816703774979126
333 E Anapamu Street, Santa Barbara, CA
333 E Anapamu St
$2,995,000
1256 Main Street, Ventura, CA64786980687745127
1256 Main Street, Ventura, CA
1256 Main St
$5,995,000
557 561 N North Olive Street, Ventura, CA64776634631809128
557 561 N North Olive Street, Ventura, CA
North Olive Street
$999,000
3300 3302 San Luis Street, Ventura, CA64775675581186129
3300 3302 San Luis Street, Ventura, CA
3302 San Luis St #3300
$995,000
2530 2532 Sunset Drive, Ventura, CA647754478749461210
2530 2532 Sunset Drive, Ventura, CA
Joe Kapp Real Estate, Inc.
$990,000
3341 3345 Porter Lane, Ventura, CA647752749934101211
3341 3345 Porter Lane, Ventura, CA
Gallardo & Associates
$985,000
3349 3353 Porter Lane, Ventura, CA647747563965451212
3349 3353 Porter Lane, Ventura, CA
Oaktree Property Management
$975,000
3289 Ocean Drive, Oxnard, CA648083527013131213
3289 Ocean Drive, Oxnard, CA
3289 Ocean Dr
$3,295,000
428 Corona Del Mar Drive, Santa Barbara, CA648078753569301214
428 Corona Del Mar Drive, Santa Barbara, CA
428 Corona Del Mar
$3,399,000
107 Fairview Road, Thousand Oaks, CA648074945665291215
107 Fairview Road, Thousand Oaks, CA
107 Fairview Rd
$3,500,000
1410 Garden Street, Santa Barbara, CA648057716829461216
1410 Garden Street, Santa Barbara, CA
1410 Garden St
$3,898,700
3301 3305 Ocean Drive, Oxnard, CA647953635459851217
3301 3305 Ocean Drive, Oxnard, CA
A-Burger
$4,700,000
1221 Chapala Street, Santa Barbara, CA647953385280031218
1221 Chapala Street, Santa Barbara, CA
1221 Chapala St
$4,750,000
1416 Bath Street, Santa Barbara, CA647946526135061219
1416 Bath Street, Santa Barbara, CA
1416 Bath St
$5,275,000
6 E Valerio Street, Santa Barbara, CA647870501593611220
6 E Valerio Street, Santa Barbara, CA
6 E Valerio St
$5,995,000
161 W Juniper Street, Oxnard, CA647868736427551221
161 W Juniper Street, Oxnard, CA
161 W Juniper St
$6,250,000
560 W Gonzales Road, Oxnard, CA647868038261781222
560 W Gonzales Road, Oxnard, CA
560 W Gonzales Rd
$6,300,000
3445 Richland Drive, Santa Barbara, CA647864843425291223
3445 Richland Drive, Santa Barbara, CA
3445 Richland Dr
$6,500,000
583 Ojai Street, Fillmore, CA647860173367071224
583 Ojai Street, Fillmore, CA
583 Ojai St
$6,860,000
601 Grand Avenue, Ojai, CA647852344750101225
601 Grand Avenue, Ojai, CA
601 Grand Ave
$8,650,000
180 Holly Avenue, Carpinteria, CA647852107142431226
180 Holly Avenue, Carpinteria, CA
180 Holly Ave
$8,950,000
440 Corona Del Mar, Santa Barbara, CA647851931909131227
440 Corona Del Mar, Santa Barbara, CA
440 Corona Del Mar
$8,995,000
340 Central Avenue, Fillmore, CA647321930501141228
340 Central Avenue, Fillmore, CA
340 Central Ave
$650,000
2525 Roosevelt Boulevard, Oxnard, CA647749908661771229
2525 Roosevelt Boulevard, Oxnard, CA
2525 Roosevelt Blvd
$979,000
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