Property Detail

Description

Rare Downtown Ventura property with commercial mixed use zoning by the beach! Two separate houses and detached double garages. One house is a classic craftsman style house with hardwood floors and built in cabinets and detailed moldings. The other house is set up as a duplex. Many value added possibilities with this property! Also in each garage you can make an ADU to have a total of four rentable units. Rent the front building to a commercial business. This area is the IN location as you can walk to the beach & pier and downtown breweries/restaurants/theaters with new apartments and ocean view condominiums of over 1 million+ dollars close by. • Unique Craftsman style unit built in the 1920’s in beautiful Downtown Ventura of a 1 bedroom plus a 1 meditation room + 1 bathroom. • Modern unit built in 1950’s walking distance to Ocean & Pier of a Frontage house = 3 bedrooms + 1.5 bathrooms plus a 1 studio + 1 bathroom • Courtyard style units with new windows and doors. • Close distance to Ocean, Pier, Restaurants, Theaters, Ventura College, Oxnard College, and California State University Channel Islands • Value-add opportunities of: short term rentals, build 4 stories up apartment, commercial (restaurant, market, etc.) zoned • Excellent Unit Mix (1) storage garage + parking spot, (1)- Studio, (1) – 2bed/1bath, (1)- 3bed/2bath • 2 car’s Enclosed parking garages • Tenants pay all utilities and trash • Development potential as on Thompson Boulevard frontage with commercial zoning • Can be sold together with property in back at 153, 155, 157 South Laurel Street • Current Cap Rate is 7 % • GRM is 12.44 • PRICED TO SELL !