For Sale
$2,295,000

102 Kalorama StVentura, CA 93001

Turnkey 4-unit apartment building, ocean views.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional turnkey investment opportunity presents a four-unit apartment building located at 102 N Kalorama St, Ventura, CA 93001. Boasting expansive ocean views from each unit, this property offers a rare blend of location and condition. The 9,147 square foot lot houses a two-story, Class B building constructed in 1952, featuring four 2-bedroom, 1-bathroom apartments. Each unit includes individual garages, and the property also features an on-site laundry room with owner-owned machines, lush landscaping with a sitting area and resident vegetable boxes. Extensive renovations completed in 2018 encompass modern open floor plans with refinished hardwood floors, updated kitchens (cabinets, quartz counters, stainless steel appliances, tile floors and backsplashes), and new bathrooms (tubs, floor tile, sinks, and toilets). Modern plumbing and electrical finishes were also implemented throughout. The roof was replaced in 2010 (30-year life expectancy), plumbing was repiped (ABS and PEX), and electrical upgrades include new outlets, light fixtures, and switches. A new 400-amp service panel with four 100-amp subpanels was installed in 2007. The building sits on a raised foundation. Market rate rents are currently in place, along with a utility bill-back system for water and trash. An assumable loan of $1,180,000 is available at 4.5% interest-only, extending through July 2028. The garages present potential for conversion into an accessory dwelling unit (ADU). This property offers a 4.5% cap rate on current rents and is situated just two blocks from Ventura's vibrant Main Street and one mile from the Ventura Pier. This is a truly exceptional investment opportunity in a prime location with significant capital expenditures already completed.

Highlights

  • Turnkey fourplex in downtown Ventura.
  • Excellent location with ocean and island views from each unit, overlooking downtown, Surfer's Point, and the harbor.
  • Completely renovated interiors (2018) featuring hardwood floors, updated kitchens and baths, and modern fixtures.
  • Amenities include individual garages, stainless steel appliances, laundry room, landscaped grounds with ocean views and resident garden plots.
  • Water and trash utility bill-back system.
  • 4.5% capitalization rate based on current rents.

Property Details for 102 Kalorama St

Property type
Apartment buildings
Class
B
Year Built
1952
Buildings
1
Stories
2
Units
4

Location Insight

City
Ventura
County
Ventura
State
California
Latitude
34.2823907
Longitude
-119.2867997
102 Kalorama St, Ventura, California

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102 Kalorama St
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