8-Unit Multifamily
For Sale
Contact for pricing
186 Bell Way, Ventura, CA 93001
Newer apartment property with approved conversion to fully residential units and covered on-site parking.
Property Size10,832 SF
Price / SF$415.44
Days on Market10
Property Features for 186 Bell Way
General Information
Standard status
Active
Size
10,832 SF
Class
A
Total Parking Spaces
18
Property subtype
Multifamily
Zoning
C-2
Investment Type
Value Add
Net Operating Income
$219,715
Units
Unit Mix
3 x 3BR/2.5BA, 4 x 3BR/1.5BA, 1 x 4BR/3BA
Multifamily Units
8
Building Details
Year Built
2023
Buildings
1
Units
8
Tenancy
Multi
Listing Agency:
Radius Commercial Real Estate & Investments
(805) 654-9300
Listed By:
Daniel Bagdazian · License #02132117
Source:
Crexi
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 5 at 6:44AM
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 Radius Commercial Real Estate & Investments
Investment Insights
Based on property information with market context.
Completed in 2023, this 8-unit multifamily property contains 10,832 square feet and operates under C-2 zoning. The City of Ventura approved conversion from live/work use to eight fully residential apartments. The unit mix includes three three-bedroom, two-and-one-half-bath homes; four three-bedroom, one-and-one-half-bath homes; and one four-bedroom, three-bath home. The property also provides 18 covered parking spaces and landscaped grounds.
The asset is located on Ventura’s west side, approximately five minutes from the city’s beaches and Downtown Ventura. The surrounding area provides access to shopping, dining, cafés, entertainment, parks, schools, and employment centers. Santa Barbara and the greater Los Angeles region are also accessible from the property.
The asset is located on Ventura’s west side, approximately five minutes from the city’s beaches and Downtown Ventura. The surrounding area provides access to shopping, dining, cafés, entertainment, parks, schools, and employment centers. Santa Barbara and the greater Los Angeles region are also accessible from the property.
Key Highlights
- 8‑unit multifamily property completed in 2023
- 10,832 SF building with C‑2 zoning
- Approved conversion to eight fully residential apartment units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $390.0k | $36.00 |
| − Vacancy | −$15.6k | −$1.44 |
| EGI | $374.4k | $34.56 |
| − OpEx | −$168.5k | −$15.55 |
| NOI | $205.9k | $19.01 |
10,832 SF · lease $36.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.94M
$2.57M – $3.43M
NOI $205,895 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.54M
$5.72M – $7.63M
NOI $457,761 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 93001, CA
33,859
Population
14,705
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
96.6 sq mi
ZIP Area
351
Density / Sq Mi
$86,310
Median Household Income
$45,023
Median Earnings
$1,881
Median Rent
$760,700
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 - Newer apartment property with approved conversion to fully residential units and covered on-site parking.
Where is this apartment building located?
The property is located at 186 Bell Way Ventura, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 8‑unit multifamily property completed in 2023; 10,832 SF building with C‑2 zoning; Approved conversion to eight fully residential apartment units
