$ 5,195,000
57 N Ann Street Ventura, CA 93001
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$ 5,195,000
Est. payment | /mo
1 Bed
1 Bath
0.38 Acres Lot
$ 5,195,000
Est. payment | /mo
1 Bed
1 Bath
0.38 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID V1-25646
Bedrooms 1
HOA Y/N No
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**
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**
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 Ventura (93001)
Zoning Assessor
Exterior
Garage Unit1:Assigned
Building
Story 2
Level or Stories 2 Story
Others
Miscellaneous Elevators/Stairclimber
Acceptable Financing Conventional
Space Rent $35,254
Listing Terms Conventional
Listed by Nicholas Henry • Beachside Partners