1926 Thompson BlvdVentura, CA 93001

Property Details for 1926 Thompson Blvd

Property size (Sq ft)

19,975 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a fully entitled 12-unit, three-story apartment building situated on a 13,515 square foot corner lot in Ventura, CA (93001), at 1926 E Thompson Blvd. Currently zoned commercial, the property boasts approximately 11,720 square feet of net rentable space within a total building size of 19,975 square feet. The asking price is $1,995,000, translating to $166,250 per unit and $99.87 per square foot. The building features 22 subterranean parking spaces, including ADA-compliant spots, a bike rack area, an elevator, and an open courtyard with an ocean view. An existing 2,980 square foot building generates current income. Comprehensive documentation is available, including architectural drawings, environmental clearance reports, survey and soil reports, and landscaping plans. The property is conveniently located 1.5 miles from Downtown Ventura and Pacific View Mall, and ¾ of a mile from the ocean. Plans are currently under revision to increase the unit count to 19 units plus one additional dwelling unit (ADU), expanding to a four-story building. Approval is anticipated by the end of 2024. The original approved plans remain valid until May 2025. This prime location and the potential for expansion make this a highly attractive investment prospect. The unit mix includes a variety of one, two, and three-bedroom units, ranging from 860 to 1,480 square feet, with two work/live units situated at the front of Thompson Boulevard. The property's design incorporates current building codes for cost-effective construction. Two affordable housing units are included in the plans. Water and sewer availability have been approved.

Location Insight

City

Ventura

County

Ventura

State

California

Latitude

34.2746

Longitude

-119.273

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