Description
Excellent opportunity to purchase a nine (9) unit investment property with a significant upside in rental income. 116 S 7th St is a unique mix of 9 units consisting of 5 units in one building, three units as a triplex, and one detached unit. This property is located in the desirable downtown Santa Paula area across the street from the historic theatre. It provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has upside potential in increasing rents with the potential of adding ADUs to the property. A great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU requirements. The property consists of one studio, seven (7) 1 bed/1 bath, and one (1) 3 bath/1 bath. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to public transportation, in addition to nearby retail shops and businesses.
Property Details
- Lot DescriptionSprinklersNone
- SubdivisionNot Applicable
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- Original List Price$1,850,000
- Property SubtypeApartment
- MLS #P1-20630
- MLS #P1-20630
- CountyVentura
- Cost1850000
- Utility SourcePublic
- Acres0.36
- Year Built1910
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Janine Morovati (#p20736)
Listing Office: COMPASS (#PF10944)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
