For Sale
$2,595,000

153 Laurel StVentura, CA 93001

Prime Ventura location, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a six-unit multifamily property situated on two parcels in Ventura, California's vibrant downtown area. The property comprises four detached buildings totaling 11,760 square feet, offering a unique blend of architectural styles, including Craftsman and Mediterranean designs. The buildings boast a mix of one- and two-bedroom units, many featuring updated interiors, private yards or patios, and four units with in-unit laundry hookups. Five garage spaces are also included, presenting potential for Accessory Dwelling Unit (ADU) conversions under SB 1211, further increasing the property's value. Located just blocks from the beach and pier, and amidst the burgeoning Front Street neighborhood, this property benefits from its proximity to Ventura's thriving entertainment, dining, and recreational scene. The property's zoning allows for both residential and commercial use, providing flexibility for future development or repositioning. Recent upgrades to several units include new kitchen cabinets and countertops, a new roof, upgraded electrical panels, and new windows. Tenants are responsible for all utilities, contributing to a strong cash flow. The asking price is $2,595,000, with a current Net Operating Income (NOI) of $123,572, resulting in a 4.80% capitalization rate. The dual-parcel configuration offers flexibility in financing options, allowing for either a single commercial loan or leveraging separate residential loans. The property's prime location and diverse unit configurations ensure consistent high demand and strong rental income. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a rapidly appreciating area.

Highlights

  • Two 3-unit properties on separate parcels offer flexible financing and resale options.
  • Garages provide potential for Accessory Dwelling Units (ADUs).
  • Excellent location in the up-and-coming Front Street neighborhood, near the bridge and downtown.
  • Three charming, unique detached units.
  • Residential and commercial zoning.
  • Updated interiors throughout.

Property Details for 153 Laurel St

Property type
Apartment buildings
Class
B
Buildings
4
Units
6

Location Insight

City
Ventura
County
Ventura
State
California
Latitude
34.2788846
Longitude
-119.28573
153 Laurel St, Ventura, California

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153 Laurel St
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