FOR SALE - 6 UNITS DOWNTOWN VENTURA 1311 EAST SANTA CLARA STREET l l

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Daniel Ryan
6 years ago
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FOR SALE - 6 UNITS IN DOWNTOWN VENTURA, VENTURA Property Summary Property Description Asking Price: $2,100,000 # Units: 6 Assessor Parcel Number (APN): Lot Size (SF): 073-0-155-060 11,000 Building

Walking distance to Memorial Park, downtown nightlife, schools and the beach. 1915 built restored 4 bed, 1.

2 FOR SALE - 6 UNITS IN DOWNTOWN VENTURA, VENTURA Property Summary Property Description Asking Price: $2,100,000 # Units: 6 Assessor Parcel Number (APN): Lot Size (SF): ,000 Building Size (SF): 4,765 Year Built: 1915 SFR, other 5 units n/a Rare opportunity to acquire extensively upgraded 6 residential units in downtown Ventura. Walking distance to Memorial Park, downtown nightlife, schools and the beach built restored 4 bed, 1.25 bath home w/ ocean views, big living room w/ fireplace, formal dining room, office and large backyard + detached duplex and (3) standalone cottages. All units have vinyl plank flooring, fully updated kitchens and baths, fresh paint inside and out, laundry hookups and private patios. Parking: Laundry: Utility Meters: Monthly Income: Uncovered Hookups in all units 6 Electric, Gas, 3 Water $10,450 Unit Mix Information 1311 Santa Clara St: Approx 2500 SF (Buyer to verify) 1327 Santa Clara St - A,B,C: Approx. 450 SF (Buyer to verify) 56, 58 Crimea St: Approx 450 SF (Buyer to verify) Detached 4 Bed/ 1.25 Bath SFR Rents: $3000 Projected (currently vacant) (3) 1 Bed, 1 Bath Detached Cottages Rents: $1450, $1550, $1600 Duplex w/ (2) 1 Bed, 1 Bath Units Rents: $1400, $1450 Information has been obtained from the owner of the property or from other sources deemed to be reliable. While we do not doubt its accuracy, we do not guarantee it

FOR SALE - 6 UNITS IN DOWNTOWN VENTURA Investment Highlights Excellent downtown location walkable to nightlife, Memorial Park, schools.

5 of 6 units are single story Extensively updated inside & out in style highly desirable to tenants Modern vinyl plank flooring, updated kitchens and baths, laundry

of ownership property Potential for owner vacation unit or vacation rentals Historically low interest rate financing available Vacancy rate in city of Ventura only 1.85%.

3 FOR SALE - 6 UNITS IN DOWNTOWN VENTURA Investment Highlights Excellent downtown location walkable to nightlife, Memorial Park, schools. Close to beaches, the harbor, shopping, hospital Attractive low density layout with 5 detached buildings on 11,000 SF lot. 5 of 6 units are single story Extensively updated inside & out in style highly desirable to tenants Modern vinyl plank flooring, updated kitchens and baths, laundry hookups, onsite uncovered parking, private yards or patios New drought tolerant landscaping Tenants pay all utilities for house, pay electric & gas all other units Pride of ownership property Potential for owner vacation unit or vacation rentals Historically low interest rate financing available Vacancy rate in city of Ventura only 1.85%. Average rental rates rose 11.5% year over year per Jan survey by Dyer Sheehan Group Information has been obtained from the owner of the property or from other sources deemed to be reliable. While we do not doubt its accuracy, we do not guarantee it

FOR SALE - 6 UNITS DOWNTOWN VENTURA RECENTLY COMPLETED RENOVATIONS MAJOR SYSTEMS UPGRADES: Replaced roofs on house and duplex All new

heating systems EXTERIOR: New windows in cottages Fresh exterior paint all units Removed old carport, new concrete driveway and parking

flooring, some carpet Fresh interior paint, new blinds Kitchens- new ovens, cabinets, tile flooring, counter tops, sinks, plumbing and

racks, Information has been obtained from the owner of the property or from other sources deemed to be reliable.

4 FOR SALE - 6 UNITS DOWNTOWN VENTURA RECENTLY COMPLETED RENOVATIONS MAJOR SYSTEMS UPGRADES: Replaced roofs on house and duplex All new electrical panels to 200 amp Updated electrical in cottages and duplex Updated plumbing in cottages and duplex Repairs/upgrades to heating systems EXTERIOR: New windows in cottages Fresh exterior paint all units Removed old carport, new concrete driveway and parking area All new fencing Drought tolerant landscaping Rebuild front porch of house to Historical standards UNITS: Modern style vinyl plank flooring, some carpet Fresh interior paint, new blinds Kitchens- new ovens, cabinets, tile flooring, counter tops, sinks, plumbing and light fixtures Bathrooms- tile flooring, shower pans or tiled showers, cabinets, fixtures, hardware, toilets, vanity, mirrors, towel racks, Information has been obtained from the owner of the property or from other sources deemed to be reliable. While we do not doubt its accuracy, we do not guarantee it l nick@channelgroupsb.com l mr.kapp805@yahoo.com l mr.kapp805@yahoo.com

5 Information has been obtained from the owner of the property or from other sources deemed to be reliable. While we do not doubt its accuracy, we do not guarantee it

6 Property Photos E Santa Clara (4 BD/1.25 BA HOUSE)

7 Property Photos Santa Clara Street ( 3 Cottages)

8 Property Photos - 58 Crimea Street (Duplex)

9 FOR SALE - 6 UNIT APARTMENT COMPLEX Investment Analysis, VENTURA Property Address: 1311 E. Santa Clara St City & State: Ventura, CA APN: Unit Mix & Rent Roll Unit Number Unit Type *House currently vacant, rent projected Current Rents Current Rents Market Rents Market Rents % Monthly Total Monthly Total change Property Information & Specifics 1311 E. Santa Clara St 4 Bed, 1.25 Bath House $3,000 Number of Units 6 Lot Size (Sq.Ft.) 11,000 (Acres) 0.24 Improvements (Sq.Ft.) 4,765 Year Built 1915 / 1965+/- Zoning R3 Financial Summary Price $2,100,000 Price / Unit $350,000 Price / Sq.Ft. $441 GRM Debt & Financing Summary Price $2,100,000 Acquisition Costs $0 Down Payment 40% $840,000 Loan Amount $1,260,000 Interest Rate 3.50% Term (5-Year Fixed Amort/30) 30 Monthly Principal & Interest $5,658 Principal Reduction (Year 1) $24,181 Debt Coverage Ratio (Actual) 1.16 Debt Coverage Ratio (Market) 1.25 Depreciation (Building %) 60% Tax Liability (Tax Rate %) 36% * 56 S. Crimea St 1 Bed, 1 Bath 58 S. Crimea St 1 Bed, 1 Bath 1327 E. S. Clara unit A 1 Bed, 1 Bath 1327 E. S. Clara unit B 1 Bed, 1 Bath 1327 E. S. Clara unit C 1 Bed, 1 Bath * Other Monthly Income $3,000 $3,000 $1,400 $1,400 $1,600 $1,600 $1,450 $1,450 $1,600 $1,600 $1,450 $1,450 $1,600 $1,600 $1,600 $1,600 $1,600 $1,550 $1,550 $1,600 $1,600 $0 $0 Total Monthly Income $10,450 $11,000 Annual Gross Income $125,400 $132,000 Vacancy (Less) 3.0% ($3,762) ($3,960) Effective Gross Income $121,638 $128, % GRM (Proforma) Expense Analysis Current Rents % of EGI Market Rents Cap Rate 3.77% % of EGI Cap Rate (Proforma) 4.06% Property Taxes % $21, % $21, % Cash on Cash $11, % Insurance Est. $2, % $2, % Cash on Cash (Proforma) $17, % Utilities - After Tax Cash Flow $14, % Gas Sep Metered $0 0.0% $0 0.0% After Tax Cash Flow (Proforma) $18, % Electricity Sep Metered $0 0.0% $0 0.0% Total Overal Return $39, % Water, Sewer Annualized from trailing 10 months $3, % $3, % Total Overal Return (Proforma) $43, % Trash ($126/mo) Monthly Fixed Charge of $126 $1, % $1,512 - Offsite Management 5.0% $6, % $6, % Onsite Management - Repairs & Maintenance $650/unit $3, % $3, % Landcape $150/Mo. $1, % $1, % Advertising $0 0.0% $0 0.0% Legal & Accounting $0 0.0% $0 0.0% Pest Control $0 0.0% $0 0.0% Reserves $250/Unit $1, % $1, % Licenses & Permits $84 0.1% $84 0.1% Special Tax Assessments $ % $ % Total Annual Expenses $42, % $42, % $3,000 $1,600 Net Operating Income $79,074 $85,156 Information contained has been obtained from the owner of the property or from other sources deemed to be reliable. While we do not doubt its accuracy we do not guarantee it. NICK HENRY l nick@channelgroupsb.com l (805) ** MIKE KAPP l mr.kapp805@yahoo.com l (805)

Presidio Apartments - $3,450, , 3841 S Saviers RD, Oxnard (16) Units all 2BD/1BA

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