Report Listing

Home For Sale

$5,195,000

57 N Ann St
Ventura, California, United States

1bd 1ba

Listed By: Realtyww Info

Listed On: 09/13/2024

Listing ID: GL11194462 View More Details

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

For more details:

Listed by: Nicholas Henry
Source: The World Property Journal

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