Established Multifamily Building Near Historic
For Sale
$2,950,000
1208 E Ventura St, Santa Paula, CA 93060
Multi-family apartment building in Santa Paula's established residential neighborhood.
Property Size8,798 SF
Days on Market137
Property Features for 1208 E Ventura St
General Information
Standard status
Active
Size
8,798 SF
Property subtype
Multifamily
Building Details
Building Size
8,798 SF
Year Built
1984
Listed By:
Jeffrey R. Becker CCIM . CPM . RPA
(805) 653-6794
Source:
Beckergrp
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 6 at 6:08AM
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 Jeffrey R. Becker CCIM . CPM . RPA
Investment Insights
Based on property information with market context.
This multi-family apartment building is located in an established residential neighborhood within walking distance of Santa Paula's historic district. The property features 10 units, each configured with 2 bedrooms and 1 bathroom, and has a history of full occupancy. Two of the units have been upgraded and are achieving $2,200 in monthly rent. A community laundry room provides additional income. Each unit includes a covered parking space. The property has low-maintenance landscaping. A new roof was installed in 2025 with a transferrable warranty. The property is a short walk from downtown Santa Paula, which offers restaurants, retail, services, museums, and entertainment destinations. The location provides access to the 150 highway and 126 freeway. Several schools, parks, and sports fields are nearby. The property is located in an area with limited housing supply.
Key Highlights
- Stable, fully occupied 10‑unit apartment building in a supply‑constrained Ventura County market, ideal for durable cash flow.
- Upside potential: Two upgraded units achieving $2,200 monthly rent, providing a blueprint for further upgrades.
- New roof installed in 2025 with transferrable warranty.
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
$139,070
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
4.71%
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%
$2,781,400
$2.8M
Cap Rate 7%
$1,986,714
$2.0M
Cap Rate 9%
$1,545,222
$1.5M
Market Conditions
NOI Build-Up for 8,798 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
$263.9K $30.00/SF
− Vacancy
−$11.1K −$1.26/SF
EGI
$252.9K $28.74/SF
− OpEx
−$113.8K −$12.93/SF
NOI
$139.1K $15.81/SF
Area
Ventura County, CA
Vacancy
4.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,781,400
Cap Rate 7%
$1,986,714
Cap Rate 9%
$1,545,222
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,070 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.02M
$2.64M – $3.52M
NOI $211,422 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 93060, CA
33,859
Population
10,935
Households
3.1
Avg Household Size
35
Median Age
16%
College-Educated
67%
High-School Grad
92.4 sq mi
ZIP Area
366
Density / Sq Mi
$79,606
Median Household Income
$36,202
Median Earnings
$1,678
Median Rent
$582,900
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?
Apartment building - Multi-family apartment building in Santa Paula's established residential neighborhood.
Where is this apartment building located?
The property is located at 1208 E Ventura St Santa Paula, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Stable, fully occupied 10‑unit apartment building in a supply‑constrained Ventura County market, ideal for durable cash flow.; Upside potential: Two upgraded units achieving $2,200 monthly rent, providing a blueprint for further upgrades.; New roof installed in 2025 with transferrable warranty.
