3574 Preble Avenue, VENTURA, CA 93003 (MLS# 23-2132)

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

Overview

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

Listing Details MLS# 23-2132

Location Info

District: 00 - VENTURA
Street #: 3574
Street Name: Preble
Street Suffix: Avenue
State: CA
Country: US
Postal Code: 93003
County: Ventura
Parcel Nbr: 075-0-284-145
Cross Street: Mills

Contract Info

Price: 10100000
Financing: CTNL
Buyers Agent $/%: 2.25
Begin Date: 2023-07-19

Status Information

Sold Date: 2023-12-22
Under Contract Date: 2023-08-13

Property Information

Number of Units: 38
Year Built: 1962
Main House SqFt: 25004
Apx Lot SqFt: 25004
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: 15
# Baths: Yes
Furnished: N
Rent: 1456
Monthly Total: 21846

Unit 2

# Units: 18
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 1517
Monthly Total: 27308

Unit 3

# Units: 4
# Bedrooms: 2
# Baths: Yes
Rent: 2024
Monthly Total: 8095

Unit 4

# Units: Yes
# Bedrooms: 3
# Baths: Yes
Furnished: N
Rent: 2205
Monthly Total: 2205

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes

Parking Info

Total # Garage Spaces: 38

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

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