407 N Ojai Road, Santa Paula, CA 93060
Property
Sold July 2024
Listing Agent: Craig Lieberman (DRE #00682741) · Listing Office: Apartment Investment Specialis · Contact: craig@ais-realestate.com · Bought with: Nicholas Henry · Beachside Partners · MLS #V1-20740 · Source: CRMLS
About this property
Completely renovated 'inside and out' in 2022, this 5% cap 8-unit property is situated within a gated community that offers its tenant community privacy and security. With its highly desired individual 3 Bedroom cottage-style units that offer laundry hook-ups, this apartment community has been able to generate generous rents of about $2,400/unit. Its gross annual rent of $232,000 on the asking price of $2,895,000 equates to a 12.5 GRM. Specific property updates include all new electrical, plumbing, interior flooring, walls, bathrooms, and kitchens. This property will undoubtedly appeal to those investors seeking a 'turnkey' investment in the strong rental community of Santa Paula.
Listing description from the July 2024 sale, as reported to CRMLS.
Sale history