401 W Ramona ST, Ventura, CA 93001
401 W Ramona ST, Ventura, CA 93001
401 W Ramona ST, Ventura, CA 93001
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Joetta Stanford

Joetta Stanford

+1(619) 719-0034
$8,995,000
Est. payment /mo
55 Beds
30 Baths
21,840 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 21,840 sqft

Price per Sqft $411

MLS Listing ID 26959445

Bedrooms 55

HOA Y/N No

Year Built 1972

Lot Size 0.820 Acres

Property Description

401433 W. Ramona Street is a 17-unit multifamily investment opportunity located in Ventura's highly supply-constrained rental market. The property consists of approximately 21,840 square feet situated on a 0.82-acre parcel and is currently operating at full occupancy. Built in 1972 and zoned R3-5 (Multiple Family Residential), the asset offers investors a stable income stream with significant long-term upside through rent growth, unit renovations, operational efficiencies, and potential density enhancements. Immediate operational stability. Strong rental market supports continued rent growth.Investment highlights% Occupied Coastal California Multifamily Asset Stabilized 17-unit apartment community with strong in-place cash flow in one of Southern California's most supply-constrained rental markets.Large Family-Oriented Unit Mix Consists primarily of spacious 3-bedroom and 4-bedroom units, a highly desirable product type with limited competing inventory in Ventura.Strong Rent Growth Potential Opportunity to increase rents through interior renovations, utility reimbursement programs (RUBS), ancillary income, and continued market appreciation. Ventura continues to experience housing shortages and elevated rental demand.No Local Rent Control Advantage Ventura is not subject to the more restrictive rent-control regulations found in many California coastal markets, providing greater operational flexibility for ownership.Value-Add Income Opportunities Existing garages, carports, and gated parking areas may provide additional revenue opportunities through storage, parking income, or operational enhancements.Large 0.82-Acre Site Significant land component for a 17-unit asset, offering long-term redevelopment, density, or ADU potential subject to city approvals and zoning requirements.Gated Community with On-Site Management Features Attractive tenant amenities include gated access, on-site management capabilities, garages, carports, and washer/dryer hookups.Inflation Hedge Through Residential Real Estate Multifamily assets in coastal California have historically benefited from strong occupancy, recurring rent growth, and limited new housing supply.

Location

State CA

County Ventura

Area Vc21 - West Of California To City Limits

Zoning R3-5

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features Assigned, Carport

Building

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 0710010490

Special Listing Condition Standard

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Listed by Gil Corber Propnation, Inc. #01378982

NEARBY SCHOOL & BUSINESS

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