Two-Home Duplex
New
For Sale
$910,000
122 & 126 Bundren Street, Oak View, CA 93022
Two updated residences share one lot with separate laundry hookups, private yards, and dedicated parking.
Property Size1,790 SF
Days on Market5
Property Features for 122 & 126 Bundren Street
General Information
Standard status
Active
Size
1,790 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
solar panels
separate laundry hookups
individual yards
Building Details
Building Size
1,790 SF
Year Built
1929
Buildings
2
Listing Agency:
RE/MAX Gold Coast REALTORS
Listed By:
Bryan Daudette · License #01874181
(805) 701-5198
Source:
Gtprop
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 2:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Gold Coast REALTORS
Investment Insights
Based on property information with market context.
This duplex-style property includes two updated homes on a single lot. The rear residence contains 1,845 sq. ft. with 3 bedrooms and 1 bathroom, while the front residence provides approximately 500 sq. ft. with 1 bedroom and 1 bathroom. Each home has separate laundry hookups and its own yard. The property was built in 1929 and has a newer roof. Solar panels serve the rear home; the buyer must qualify for and assume the solar lease.
The rear residence has a long driveway and additional parking, while the front home includes dedicated covered parking. The property is in Oak View, with access to Ojai restaurants and shops, Lake Casitas, Ventura beaches, and Santa Barbara via a scenic drive.
The rear residence has a long driveway and additional parking, while the front home includes dedicated covered parking. The property is in Oak View, with access to Ojai restaurants and shops, Lake Casitas, Ventura beaches, and Santa Barbara via a scenic drive.
Key Highlights
- Two residences on one lot: 1,845 sq. ft. rear home and approximately 500 sq. ft. front home
- Rear home has 3 bedrooms and 1 bathroom; front home has 1 bedroom and 1 bathroom
- Separate laundry hookups and individual yards for both homes
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 - Two updated residences share one lot with separate laundry hookups, private yards, and dedicated parking.
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 residences on one lot: 1,845 sq. ft. rear home and approximately 500 sq. ft. front home; Rear home has 3 bedrooms and 1 bathroom; front home has 1 bedroom and 1 bathroom; Separate laundry hookups and individual yards for both homes
