3574 Preble Avenue, VENTURA, CA 93003
$9,800,000
Property Type:
Res Inc
Square Footage:
25,004
Lot Size (sq. ft.):
25,004
Status:
Closed
Current Price:
$9,800,000
List Date:
7/19/2023
Last Modified:
9/15/2024
Description
Value-add 38 unit apartment building opportunity for only $267k/unit in the low turnover sale marketplace of city of Ventura. 14.1 GRM, 4.4% CAP on actual and 11.0 GRM, 6.3% CAP on market rents. Tradewinds Apartments is set on a .89 acre lot w/ garage parking, pool and laundry room. Convenient location near Pacific View Mall & Lowes, Community Memorial Hospital, Ventura College, Ventura Harbor and local beaches plus easy access to both the 101 and 126 freeways. Unit mix consists of (1) 3BD/1BA, (4) 2BD/1BA, (18)1BD/1BA and (15) studios. Utilities sep metered for electric and gas and (2) 100 gallon water heaters service building. Major upside in rental rates. Available reports include: General inspection, termite, roof and sewer lateral. OFFER DUE DATE AUG 4th @ 12PM
More Information MLS# 23-2132
Location Info
Country: US
Cross Street: Mills
District: 00 - VENTURA
Street #: 3574
Street Name: Preble
Street Suffix: Avenue
State: CA
Postal Code: 93003
County: Ventura
Parcel Number: 075-0-284-145
Contract Info
Financing: CTNL
Buyers Agent $/%: 2.25
Current Price: $9,800,000
Price: 10100000
Begin Date: 2023-07-19
Status: Closed
Property Information
Year Built: 1962
Apx Lot SqFt: 25004
Main House SqFt: 25004
Recurring Fees: No
Number of Units: 38
Neighborhood/Schools
Elementary School: Other
Junior High School: Other
High School: Other
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Laundry
Laundry Room: 1
Unit 1
# Units: 15
# Bedrooms: 0
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 1456
Monthly Total: 21846
Income/Expenses
Total Monthly Income: 59854
Other Income: 400
Annual Income: 718248
Gross Rent Multiplr: 14.1
Capitalization Rate: 4.4
Unit 2
# Units: 18
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 1517
Monthly Total: 27308
Zoning
Other: 1
Reports Available
Home Inspection: 1
Pest Inspection: 1
Prelim: 1
Roof: 1
Terms
Conventional: 1
Listing Type
ER: 1
Unit 3
# Units: 4
# Bedrooms: 2
# Baths: 1
# Half Baths: 0
Rent: 2024
Monthly Total: 8095
Unit 4
# Units: 1
# Bedrooms: 3
# Baths: 1
Furnished: N
Rent: 2205
Monthly Total: 2205
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes
Parking Info
Garage: 1
Total # Garage Spaces: 38
Pub Listing Details
None: 1
Contingent Remarks
SUBJ 2 INSPECT: 1
Status Information
Sold Date: 2023-12-22
Sold Price: $9,800,000
Under Contract Date: 2023-08-13
Property Features
Parking Info: Garage
Laundry: Laundry Room
Zoning: Other
Reports Available: Home Inspection; Pest Inspection; Prelim; Roof
Terms: Conventional
Listing Type: ER
Pub Listing Details: None
Contingent Remarks: SUBJ 2 INSPECT
Listing Office:
Beachside Partners
Last Updated: September - 15 - 2024
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers.
All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.