Two-Unit Duplex with Private
For Sale
$975,000
Pending
& 631 Empire Ave, Ventura, CA 93003
Both residences offer in-garage laundry, two full bathrooms, and private outdoor space.
Property Size2,106 SF
Days on Market118
Property Features for & 631 Empire Ave
General Information
Standard status
Pending
Size
2,106 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
needs TLC
Additional Details
Highway Access
Yes
Amenities
laundry in garage
private backyard
Building Details
Building Size
2,106 SF
Year Built
1960
Stories
1
Listed By:
Kimberly Mims-Malone
(805) 312-3962
Source:
Elliman
Added: May 9
Changed: Aug 30
Last Checked: Aug 30 at 6:59AM
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 Kimberly Mims-Malone
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with two bedrooms and two full bathrooms. Both units include laundry facilities in the garage and a private backyard. Built in 1960, the property requires TLC and offers a defined renovation project within an existing two-unit layout.
Residents have access to nearby schools, Ventura College, the mall, and freeway connections. The surrounding area records a Walk Score of 90, a Bike Score of 79, and a Transit Score of 42. Tenants separately pay their own electric, gas, cable, and trash expenses.
Residents have access to nearby schools, Ventura College, the mall, and freeway connections. The surrounding area records a Walk Score of 90, a Bike Score of 79, and a Transit Score of 42. Tenants separately pay their own electric, gas, cable, and trash expenses.
Key Highlights
- Two‑unit duplex built in 1960
- Each unit has 2 bedrooms and 2 full bathrooms
- Private backyard provided for each unit
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
$46,947
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
4.82%
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%
$938,940
$938.9K
Cap Rate 7%
$670,671
$670.7K
Cap Rate 9%
$521,633
$521.6K
Market Conditions
NOI Build-Up for 2,106 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
$70.8K $33.60/SF
− Vacancy
−$3.7K −$1.75/SF
EGI
$67.1K $31.85/SF
− OpEx
−$20.1K −$9.55/SF
NOI
$46.9K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /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%
$938,940
Cap Rate 7%
$670,671
Cap Rate 9%
$521,633
Alternative Uses
Best Use
Multifamily LT 5
$670.7K
$586.8K – $782.5K
NOI $46,947 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$571.9K
$500.4K – $667.2K
NOI $40,031 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,000 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 93003, CA
50,558
Population
20,734
Households
2.4
Avg Household Size
42
Median Age
41%
College-Educated
92%
High-School Grad
20.8 sq mi
ZIP Area
2,431
Density / Sq Mi
$100,300
Median Household Income
$50,185
Median Earnings
$2,173
Median Rent
$781,600
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?
Multifamily property - Both residences offer in-garage laundry, two full bathrooms, and private outdoor space.
Where is this multifamily property located?
The property is located at & 631 Empire Ave Ventura, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1960; Each unit has 2 bedrooms and 2 full bathrooms; Private backyard provided for each unit
