About 473 W Ramona Street
The subject property consists of 15 residential units, all of which contain 390 sq. ft. each (5,863 total sq ft), with all units contained within eight building structures (seven duplexes and one building housing one additional unit) built in 1926. Parcel size is approximately 33,105 sq ft. This building spatial configuration provides for a large open area currently used by tenants as open area, but is available for the following ADU additions. On September 19th of this year, SB 1211 was signed into law, which affords an owner of a multifamily property the ability to secure entitlements for the same number of ADUs as the existing residential units, up to a maximum of 8 ADUs.The property currently generates $17,225 ($1,148/unit average) for a total gross annual rental income of $206,700, making the financial metrics a 12.8 GRM & a 4.6% cap rate.
Features of 473 W Ramona Street
| MLS® # | V1-26683 |
|---|---|
| Price | $2,650,000 |
| Bedrooms | 1 |
| Bathrooms | 1.00 |
| Acres | 0.76 |
| Type | Residential Income |
| Sub-Type | Res Income 2-4 Units |
| Status | Closed |
Community Information
| Address | 473 W Ramona Street |
|---|---|
| City | Ventura |
| County | Ventura |
| State | CA |
| Zip Code | 93001 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | N/K |
Interior
| Cooling | N/K |
|---|---|
| Fireplace | Yes |
Exterior
| Lot Description | Sidewalks |
|---|
Additional Information
| Date Listed | November 11th, 2024 |
|---|---|
| Days on Market | 105 |
| Zoning | Public Rec |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Apartment Investment Specialis |
|---|