Property Detail

Description

Rare Downtown Ventura property with ocean views by the beach!.  Just steps from the beach, this exceptional Downtown Ventura property features two updated homes with stunning ocean views.  Capitalization Rate: 6.64 %! Priced to sell!  AS-IS no owner credits. The classic 1920s Craftsman duplex showcase of character boasts a significant part of the heritage and charm of coastal Ventura, with modern touches. The newer 2013 Mediterranean-style home offers sweeping ocean and mountain views from its master bedroom and its upper-level deck. All units offer granite countertops, new tile and wood flooring and tiled bathrooms throughout. With a versatile layout and value-add potential--including ADU conversion and short-term Airbnb rental possibilities--this property could offer up to four rentable units. Enjoy a lifestyle of walkable to the beach, pier, dining, theaters, hikes, and more. Surrounded by luxury developments, this is a prime opportunity in a thriving neighborhood.  Highlights:  Ocean views & walk-to-beach location  Classic Ventura Craftsman duplex   2013 built Mediterranean home  Flexible unit mix: (1) 1 bed/1 bath, (1) 2 bed/1 bath, (1) 2 bed/2 bath  Courtyard-style layout with attached garage 7 additional off street parking spots on the property  Tenants cover utilities & trash 1 Separate Water Meter, 2 Separate Gas Meters, 2 Separate Electric Meters Property is a Mills Act available if buyer wants it, for very low property taxes of significant savings for owners reducing taxes by 20% to 70% for very low property taxes  Development potential & ADU-ready garage  Short-term rental potential as the house 2 doors down is successful Airbnb Buyers’ Sale proceeds money to go to charity UCLA Health medical center Back Mediterranean 2+2 house is vacant and ready to show anytime Lot Size: 6000 square feet 157 Unit Rent 3400 155 Unit Rent 2025 153 Unit Rent 3132 Cap rate is 6.64%           GRM is 12.94