407 N Ojai Rd

—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Description

Completely renovated ''inside and out'' in 2022, this 5% cap 8-unit property is situated within a gated community that offers its tenant community privacy and security. With its highly desired individual 3 Bedroom cottage-style units that offer laundry hook-ups, this apartment community has been able to generate generous rents of about $2,400/unit. Its gross annual rent of $232,000 on the asking price of $2,895,000 equates to a 12.5 GRM. Specific property updates include all new electrical, plumbing,...Completely renovated ''inside and out'' in 2022, this 5% cap 8-unit property is situated within a gated community that offers its tenant community privacy and security. With its highly desired individual 3 Bedroom cottage-style units that offer laundry hook-ups, this apartment community has been able to generate generous rents of about $2,400/unit. Its gross annual rent of $232,000 on the asking price of $2,895,000 equates to a 12.5 GRM. Specific property updates include all new electrical, plumbing, interior flooring, walls, bathrooms, and kitchens. This property will undoubtedly appeal to those investors seeking a ''turnkey'' investment in the strong rental community of Santa Paula.
  1. Listed by Craig Lieberman • DRE #00682741 • Apartment Investment Specialists

Property Details for 407 North Ojai Road

Zoning
R-3
Zoning:R-3
Yes
Location Info:Cross Street
Saticoy Street
Property Information:Recurring Fees
No
LISTING UPDATED: 09/14/2024 08:42 PM

Property Details for 407 North Ojai Road

StatusClosed
MLS #23-3326
Days on Market183
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size-
CountyVentura County

Location

Listing Courtesy of Apartment Investment Specialists, Craig Lieberman, DRE #00682741

Sold By Beachside Partners, Nick Henry, DRE #01748131

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Building Information for 407 North Ojai Road

Stories-Residences8Year Built1940Building Size-Lot Size-

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$13,063 per month

30 year fixed, 6.11% Interest

Principal and Interest

$13,063

Property Taxes

$0

HOA Dues

$0

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Property Information for 407 North Ojai Road

Details
Features
  • District: 00 - VENTURA
  • District: 00 - VENTURA
  • Laundry Features: None
  • Grounds Landscaping:Pool: N/K
  • Heating: Wall Furnace
  • View: None
  • Cooling: None
  • Common Walls: Detached/No Common Walls
  • Community Features: Street Lights, Sidewalks
  • Cooling: No
  • Fencing: Wood
  • Heating: Yes
  • Pool Features: None
  • Pool: No
  • Spa Features: None
  • Fireplace: No
  • Heating/Cooling:Wall: Yes
  • Year Built Numeric: 1940
  • Building Area Total: 0.0
Taxes and HOA Information
  • Association: No
  • Parcel Number: 101-0-141-265
  • Association Fee: $.00
Condo/Co-op/PUD
  • CondoCO-OPPUD:Association Fee: $.00
Parking/Garage
  • Parking Features: None
Room Info
Room Info
  • Total Bathrooms: .00
  • Bathrooms Total (Decimal): .00
  • Bathrooms Total (Notational): .00
Location Info
Location Info
  • Directions: Located near the corner of N. Ojai Road and Saticoy Street
  • Living Area Units: Sqft
  • Lot Features: Sprinklers None
Neighborhood/Schools
  • Elementary School: Other
  • Junior High School: Other
  • High School: Other
  • NeighborhoodSchools:Elementary School: Other
  • NeighborhoodSchools:Junior High School: Other
  • NeighborhoodSchools:High School: Other
Property / Assessor Information
Property / Assessor Info
  • Lot Size Square Feet: 0.0
  • Lot Size Area: 0.0
  • PropertyAttachedYN: No
  • Lot Size Acres: 0.0
  • Lot Size Units: Acres
  • Property Type Label: Res Inc
  • New Construction YN: No
  • Senior Community YN: No
  • Condition:Excellent: Yes
  • Property Information:Realtor.com Type: Multi-Family
  • Property Information:Year Built: 1940.0
Utility Info
  • Meters:Sep Meter Wtr: N
  • Meters:Sep Meter Elec: Y
  • Meters:Sep Meter Gas: Yes
Income / Expense Info
Income / Expense Info
  • Income/Expenses:Gross Rent Multiplr: 12.5
  • Income/Expenses:Capitalization Rate: 5.0
  • Income/Expenses:Electric Expense: $360
  • Income/Expenses:Trash Expense: $6,600
  • Income/Expenses:Total Annual Exp: $79,264.00
  • Income/Expenses:NOI: 145563
  • Income/Expenses:Total Monthly Income: $19,315
  • Income/Expenses:Annual Income: $231,780
  • Gross Income: $231,780
  • Electric Expense: $360
  • Insurance Expense: $4,580
  • Trash Expense: $6,600
  • Water Expense: $14,100
  • OperatingExpense: $79,264
Unit Info
Unit Info
  • Number Of Units Total: 8
Unit 1 Info
  • Unit 1:# Units: 5
  • Unit 1:# Bedrooms: 3
  • Unit 1:# Baths: 1
  • Unit 1:# Half Baths: 0
  • Unit 1:Furnished: N
  • Unit 1:Rent: $2,395.00
  • Unit 1:Monthly Total: $11,975.00
Unit 2 Info
  • Unit 2:# Units: 1
  • Unit 2:# Bedrooms: 3
  • Unit 2:# Baths: 1
  • Unit 2:Rent: $2,350.00
  • Unit 2:Monthly Total: $2,350.00
Unit 3 Info
  • Unit 3:# Units: 2
  • Unit 3:# Bedrooms: $3.00
  • Unit 3:# Baths: 1
  • Unit 3:Rent: $2,495.00
  • Unit 3:Monthly Total: $4,990.00
Rental
Rental Information
  • Total Actual Rent: $19,315

Property History for 407 North Ojai Road

DateEvent & SourcePriceAppreciation
Jul 16, 2024

Sold

CLAW #V1-20740VC

—
Jul 16, 2024

Pending

CLAW #V1-20740VC

—
Jul 16, 2024

Sold

VCF #V1-20740

$2,691,620—
Jul 16, 2024

Sold

SDMLS #V1-20740

$2,691,620—
Jul 16, 2024

Pending

VCF #V1-20740

—
Jul 16, 2024

Pending

SDMLS #V1-20740

—
Jul 16, 2024

Sold

CRMLS #V1-20740

$2,691,620—
Jul 15, 2024

Sold

Santa Barbara AOR #23-3326

$2,691,620—
May 3, 2024

Pending

Santa Barbara AOR #23-3326

—
May 3, 2024

Price Change

CLAW #V1-20740VC

$2,895,000—
May 3, 2024

Accepting Backup Offers

VCF #V1-20740

—
May 3, 2024

Expired

CRMLS #V1-20740

—
May 3, 2024

Listed (Active)

VCF #V1-20740

$2,950,000—
May 3, 2024

Listed (Active)

CLAW #V1-20740VC

$2,950,000—
May 2, 2024

Accepting Backup Offers

CRMLS #V1-20740

—
May 2, 2024

Expired

CLAW #V1-20740VC

—
May 2, 2024

Expired

VCF #V1-20740

$2,895,000—
Mar 3, 2024

Price Change

CLAW #V1-20740VC

$2,895,000—
Mar 3, 2024

Listed (Active)

CLAW #V1-20740VC

$2,950,000—
Mar 3, 2024

Listed (Active)

VCF #V1-20740

$2,950,000—
Mar 2, 2024

Expired

CLAW #V1-20740VC

$2,895,000—
Mar 2, 2024

Expired

VCF #V1-20740

$2,895,000—
Mar 1, 2024

Expired

CRMLS #V1-20740

$2,895,000—
Nov 13, 2023

Price Change

VCF #V1-20740

$2,691,620—
Nov 13, 2023

Price Change

CRMLS #V1-20740

$2,895,000—
Nov 3, 2023

Listed (Active)

SDMLS #V1-20740

$2,950,000—
Nov 3, 2023

Listed (Active)

CRMLS #V1-20740

$2,950,000—
Nov 3, 2023

Listed (Active)

VCF #V1-20740

$2,950,000—
Nov 3, 2023

Listed (Active)

CLAW #V1-20740VC

$2,950,000—
Nov 2, 2023

Listed (Active)

Santa Barbara AOR #23-3326

$2,950,000—
Aug 11, 2023

Expired

Santa Barbara AOR #23-374

$2,949,900—
Aug 11, 2023

Expired

VCF #V1-16769

$2,949,900—
Aug 11, 2023

Expired

CLAW #V1-16769VC

$2,949,900—
Aug 10, 2023

Expired

CRMLS #V1-16769

$2,949,900—
May 9, 2023

Withdrawn / Cancelled

CLAW #V1-16769VC

—
May 9, 2023

Withdrawn / Cancelled

VCF #V1-16769

$2,949,900—
May 8, 2023

Withdrawn / Cancelled

CRMLS #V1-16769

—
Mar 29, 2023

Accepting Backup Offers

VCF #V1-16769

—
Mar 28, 2023

Accepting Backup Offers

CRMLS #V1-16769

—
Mar 9, 2023

Price Change

CRMLS #V1-16769

$2,949,900—
Feb 13, 2023

Listed (Active)

CLAW #V1-16769VC

$2,950,000—
Feb 13, 2023

Listed (Active)

CRMLS #V1-16769

$2,950,000—
Feb 13, 2023

Listed (Active)

VCF #V1-16769

$2,950,000—
Feb 12, 2023

Listed (Active)

Santa Barbara AOR #23-374

$2,950,000—
DateEvent & SourcePrice
07/16/2024

Sold

CLAW #V1-20740VC

—
07/16/2024

Pending

CLAW #V1-20740VC

—
07/16/2024

Sold

VCF #V1-20740

$2,691,620
07/16/2024

Sold

SDMLS #V1-20740

$2,691,620
07/16/2024

Pending

VCF #V1-20740

—
07/16/2024

Pending

SDMLS #V1-20740

—
07/16/2024

Sold

CRMLS #V1-20740

$2,691,620
07/15/2024

Sold

Santa Barbara AOR #23-3326

$2,691,620
05/03/2024

Pending

Santa Barbara AOR #23-3326

—
05/03/2024

Price Change

CLAW #V1-20740VC

$2,895,000
05/03/2024

Accepting Backup Offers

VCF #V1-20740

—
05/03/2024

Expired

CRMLS #V1-20740

—
05/03/2024

Listed (Active)

VCF #V1-20740

$2,950,000
05/03/2024

Listed (Active)

CLAW #V1-20740VC

$2,950,000
05/02/2024

Accepting Backup Offers

CRMLS #V1-20740

—
05/02/2024

Expired

CLAW #V1-20740VC

—
05/02/2024

Expired

VCF #V1-20740

$2,895,000
03/03/2024

Price Change

CLAW #V1-20740VC

$2,895,000
03/03/2024

Listed (Active)

CLAW #V1-20740VC

$2,950,000
03/03/2024

Listed (Active)

VCF #V1-20740

$2,950,000
03/02/2024

Expired

CLAW #V1-20740VC

$2,895,000
03/02/2024

Expired

VCF #V1-20740

$2,895,000
03/01/2024

Expired

CRMLS #V1-20740

$2,895,000
11/13/2023

Price Change

VCF #V1-20740

$2,691,620
11/13/2023

Price Change

CRMLS #V1-20740

$2,895,000
11/03/2023

Listed (Active)

SDMLS #V1-20740

$2,950,000
11/03/2023

Listed (Active)

CRMLS #V1-20740

$2,950,000
11/03/2023

Listed (Active)

VCF #V1-20740

$2,950,000
11/03/2023

Listed (Active)

CLAW #V1-20740VC

$2,950,000
11/02/2023

Listed (Active)

Santa Barbara AOR #23-3326

$2,950,000
08/11/2023

Expired

Santa Barbara AOR #23-374

$2,949,900
08/11/2023

Expired

VCF #V1-16769

$2,949,900
08/11/2023

Expired

CLAW #V1-16769VC

$2,949,900
08/10/2023

Expired

CRMLS #V1-16769

$2,949,900
05/09/2023

Withdrawn / Cancelled

CLAW #V1-16769VC

—
05/09/2023

Withdrawn / Cancelled

VCF #V1-16769

$2,949,900
05/08/2023

Withdrawn / Cancelled

CRMLS #V1-16769

—
03/29/2023

Accepting Backup Offers

VCF #V1-16769

—
03/28/2023

Accepting Backup Offers

CRMLS #V1-16769

—
03/09/2023

Price Change

CRMLS #V1-16769

$2,949,900
02/13/2023

Listed (Active)

CLAW #V1-16769VC

$2,950,000
02/13/2023

Listed (Active)

CRMLS #V1-16769

$2,950,000
02/13/2023

Listed (Active)

VCF #V1-16769

$2,950,000
02/12/2023

Listed (Active)

Santa Barbara AOR #23-374

$2,950,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 407 North Ojai Road

This home is within Santa Paula Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Barbara Webster Elementary
PublicK to 6

Isbell Middle
Public7 to 8

Santa Paula High
Public9 to 12

Renaissance High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Apartment Investment Specialists, Craig Lieberman, DRE #00682741

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.