407 North Ojai Road

Santa Paula, CA 93060

$2,895,000
Price
Beds
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 Specialis

Property Details for 407 North Ojai Road

Subdivision Name
Not Applicable
Garage Spaces
.00
View
None

Location

Listing Courtesy of Apartment Investment Specialis, Craig Lieberman, DRE #00682741
Add your commute
LISTING UPDATED: 03/03/2024 09:34 AM

Property Details for 407 North Ojai Road

StatusActive
MLS #V1-20740
Days on Market179
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size0.40 AC / 17,295 SF
CountyVentura County

Location

Listing Courtesy of Apartment Investment Specialis, Craig Lieberman, DRE #00682741
Add your commute

Building Information for 407 North Ojai Road

Stories-Residences-Year Built1940Building Size-Lot Size0.40 AC / 17,295 SF

Payment Calculator

$15,799 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,799

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 407 North Ojai Road

Summary
Location and General Information
  • Community Features: Sidewalks, Street Lights
  • City: Santa Paula
  • Directions: Located near the corner of N. Ojai Road and Saticoy Street
  • Area: VC51 - Santa Paula NW
  • Unparsed Address: 407 North Ojai Road, Santa Paula, CA 93060
Parking
  • Parking Features: None
Taxes and HOA Information
  • Association Fee: $.00
  • Professional Management Expense: $11,589.00
  • Tax Other Annual Assessment Amount: $.00
Virtual Tour
  • Videos Count: 0
Property
Lot Information
  • Lot Features: Sprinklers None
  • Lot Size Acres: .40
  • Lot Size Square Feet: 17,295.00
  • Lot Size Area: 17,295.00
  • Lot Size Units: Square Feet
  • Parcel Number: 1010141265
  • Zoning: R-3
  • Property Type: Residential Income
Property and Assessments
  • Common Walls: Detached/No Common Walls
  • Documents Count: 1
  • Property Attached: No
  • Year Built Source: Other
  • Senior Community: No
Utilities
  • Cooling: None
  • Cooling: No
  • Water Sewer Expense: $14,100.00
Interior and Exterior Features
Exterior Features
  • Fencing: Wood
  • Pool Features: None
  • Pool Private: No
  • Pool: No
  • Spa Features: None
  • Spa: No
Interior Features
  • Appliances: None
  • Total Bathrooms: 0
  • Fireplace Features: None
  • Fireplace: No
  • Heating: Wall Furnace
  • Heating: Yes
  • Laundry Features: None
  • View: No
Multi Family
Multi-Family Information
  • Gross Scheduled Income: $231,780.00
  • Net Operating Income: $145,563.00
  • Electric Expense: $360.00
  • Insurance Expense: $4,580.00
  • Number Of Buildings: 4
  • Operating Expense: $79,264.00
  • Special Listing Conditions: Standard
  • Trash Expense: $6,600.00
Rental
Rental Information
  • Rent Control: No

Property History for 407 North Ojai Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Barbara Webster Elementary
PublicK to 5

Isbell Middle
Public6 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.

Similar Homes

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Similar Sold Homes

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407 North Ojai Road is a multi-family home for sale in Santa Paula, CA 93060. This property was listed for sale on November 3, 2023 by Apartment Investment Specialis, it's currently listed at $2,895,000. This listing's school district is Santa Paula Unified School District. Nearby schools include Barbara Webster Elementary, Isbell Middle and Santa Paula High. 407 North Ojai Road is a 0-bed, 0-bath, multi-family home built in 1940.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Apartment Investment Specialis, 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.