7
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$5,175,000
$5,195,000 0.4%
Est. payment /mo
0.38 Acres Lot
Sold on 11/15/2024
57 N Ann ST Ventura, CA 93001
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Key Details
Sold Price $5,175,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID V1-25646
Year Built 1972
Lot Size 0.379 Acres
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**
Location
State CA
County Ventura
Area Vtu - Ventura
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Assigned
Fence None
Pool None
Community Features Urban
View Y/N Yes
Building
Lot Description Sprinklers None
Story 2
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Nicholas Henry • Beachside Partners
Bought with Nicholas Henry • Beachside Partners
Bought with Nicholas Henry • Beachside Partners