Updated Two-Home
New
For Sale
$910,000
122 & 126 Bundren Street, Oak View, CA 93022
Duplex, Oak View, CA
Property Size1,790 SF
Lot Size0.11 Acres
Price / SF$508.38
Days on Market2
Property Features for 122 & 126 Bundren Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1
Parking features
Carport, Driveway, Covered
Interior features
Unfurnished
Elementary school district
Ventura Unified School District
Middle school district
Ventura Unified School District
High school district
Ventura Unified School District
Subdivision
VC11 - Ojai
Standard status
Active
APN
0610047110
Size
1,790 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
solar panels
separate laundry hookups
individual yards
Building Details
Year built
1929
Flooring type
Laminate, Tile
Roof type
Shingle
Architectural style
Modern
Listing Agency:
RE/MAX Gold Coast REALTORS · RE/MAX International
(805) 524-2624
Listed By:
Bryan Daudette · License #1874181
(805) 701-5198
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 5 at 12:06PM
MLS# V1-38563
Copyright © 2026 California Regional MLS - Pasadena-Foothills and Ventura County Coastal. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex includes two separate residences with independent outdoor areas and recent improvements. The rear home contains 1,845 square feet with three bedrooms and one bathroom, while the front residence offers approximately 500 square feet with one bedroom and one bathroom. Each home has separate laundry hookups, and the property has a newer shingle roof. The rear residence includes solar panels subject to buyer qualification and lease assumption, along with a long driveway and additional parking. The front home has dedicated covered parking.
Set on a 0.11-acre parcel in Oak View, the property is served by public water and public sewer. Its Central Coast setting places it near Ojai restaurants and shops, Lake Casitas recreation, Ventura beaches, and a scenic drive from Santa Barbara. The homes were built in 1929 and feature tile and laminate flooring, forced-air heating, and window or wall units for cooling.
Set on a 0.11-acre parcel in Oak View, the property is served by public water and public sewer. Its Central Coast setting places it near Ojai restaurants and shops, Lake Casitas recreation, Ventura beaches, and a scenic drive from Santa Barbara. The homes were built in 1929 and feature tile and laminate flooring, forced-air heating, and window or wall units for cooling.
Key Highlights
- Two separate homes on a 0.11‑acre parcel
- Rear residence: 1,845 square feet, 3 bedrooms, and 1 bathroom
- Front residence: approximately 500 square feet, 1 bedroom, and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,677
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$613,540
$613.5K
Cap Rate 7%
$438,243
$438.2K
Cap Rate 9%
$340,856
$340.9K
Market Conditions
NOI Build-Up for 1,790 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.6K $25.50/SF
− Vacancy
−$1.8K −$1.02/SF
EGI
$43.8K $24.48/SF
− OpEx
−$13.1K −$7.34/SF
NOI
$30.7K $17.14/SF
Area
Ventura County, CA
Vacancy
3.99%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$613,540
Cap Rate 7%
$438,243
Cap Rate 9%
$340,856
Alternative Uses
Best Use
Multifamily LT 5
$438.2K
$383.5K – $511.3K
NOI $30,677 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$404.2K
$353.7K – $471.6K
NOI $28,295 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$614.5K
$537.7K – $716.9K
NOI $43,015 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 93022, CA
6,172
Population
2,264
Households
2.7
Avg Household Size
44
Median Age
30%
College-Educated
88%
High-School Grad
3.1 sq mi
ZIP Area
1,991
Density / Sq Mi
$109,471
Median Household Income
$43,545
Median Earnings
$2,489
Median Rent
$704,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences provide private yards, individual laundry hookups, and distinct parking arrangements on a shared parcel.
Where is this duplex located?
The property is located at 122 & 126 Bundren Street Oak View, CA.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Two separate homes on a 0.11‑acre parcel; Rear residence: 1,845 square feet, 3 bedrooms, and 1 bathroom; Front residence: approximately 500 square feet, 1 bedroom, and 1 bathroom
