57 N Ann Street, Ventura, CA 93001
- $5,195,000
- List Price
- $5,195,000
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- V1-25646
- Year Built
- 1972
- Lot Size
- 16,500
- Acres
- 0.38
- Lot Location
- Sprinklers None
- Days on Market
- 26
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- Not Applicable
Property Description
Rare opportunity to acquire midsize apartment building in beautiful downtown Ventura 1 block north of Main Street. 57 NorthAnn Street, comprised of (20) 1BD units, features a central secure front door entry leading to 3 stories accessed by elevatorwith partial ocean views from the 2nd and 3rd floors. Potential to add additional unit by converting unused community room(approximately 350 SF with kitchen) on first floor. There are 10 tuck-under carport spaces that may offer ADU conversionpotential for additional units plus 3 uncovered parking spaces at rear. Owner pays water/sewer, trash and hot water whiletenants pay their own electricity and gas. There are 2 coin-operated laundry rooms. Current rental rates are below marketoffering excellent upside opportunity for the astute investor. Location does not get much better with tenants being able to walkto shopping, eating, dining and entertainment options on Main Street along with parks, schools, beaches.**5.0% CAP rate, 12.2 GRM on current rents w/ rental rate upside subject to AB1482**
Additional Information
- Appliances
- Gas Oven
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- Interior Features
- Elevator
- Attached Structure
- Detached
- Number Of Units Total
- 20
- Gross Scheduled Income
- $425,316
Listing courtesy of Listing Agent: Nicholas Henry (nick@beachsidepartners.com) from Listing Office: Beachside Partners.
Mortgage Calculator
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