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 1920s in beautiful Downtown Ventura of a 1 bedroom plus a 1 meditation room + 1 bathroom. Modern unit built in 1950s 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 cars 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