970 Petit Ave Ventura, CA 93004

This exceptional investment opportunity presents a 10-unit medical office building in Ventura, CA, boasting 8,102 square feet across two buildings on a 1.02-acre lot. The property, built in 1977 and classified as Class B, features 28 parking spaces and is conveniently located at 970 S Petit Ave, Ventura, CA 93004, in a Medical | Office zoned area. Currently generating a NOI of $87,208, representing a 5.16% cap rate, the property offers significant value-add potential. A pro-forma analysis projects a NOI of $64,387 and a 3.81% cap rate. The asking price is $1,690,000, translating to $208.59 per square foot and $169,000 per unit. All ten units are currently occupied, providing immediate revenue generation. One vacant unit, exceeding 2200 square feet, presents an opportunity to increase rental income. The property's central Ventura location ensures easy access to major highways and public transportation, enhancing its appeal to both tenants and investors. This property is an ideal investment for those seeking a strong return on investment in a thriving market. The property's location and existing tenant base make it a compelling opportunity for immediate income and future growth.