Well-Maintained Triplex with
For Sale
$1,100,000
Pending
220 S Palm Ave, Santa Paula, CA 93060
Well-maintained three-unit triplex with private townhome-style units and on-site tenant laundry room.
Property Size3,608 SF
Days on Market106
Property Features for 220 S Palm Ave
General Information
Standard status
Pending
Size
3,608 SF
Property subtype
Investment
Building Details
Building Size
3,608 SF
Year Built
1979
Stories
2
Units
3
Listing Agency:
Albert Maxwell Goldberg Broker
(310) 721-7653
Listed By:
Albert Goldberg · License #01067575
(310) 721-7653
Source:
Elliman
Added: May 16
Changed: Aug 28
Last Checked: Aug 25 at 8:54AM
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 Albert Maxwell Goldberg Broker
Investment Insights
Based on property information with market context.
This well-maintained triplex is offered for sale as-is and features private townhome-style units. The property includes a laundry room for tenants, designed to support day-to-day convenience within the community. Each unit is described as having two bedrooms and 1.5 bathrooms (the listing system may reflect this as a full bath), and the seller notes ADU potential.
The current rents are stated as $2,500, $2,500, and $1,800, with pro forma rents noted as $2,600 per unit. All units are reported to be 2-bedroom layouts with 1.5 baths.
Additional income and expense figures were pending at the time of listing entry and will be updated when provided.
The current rents are stated as $2,500, $2,500, and $1,800, with pro forma rents noted as $2,600 per unit. All units are reported to be 2-bedroom layouts with 1.5 baths.
Additional income and expense figures were pending at the time of listing entry and will be updated when provided.
Key Highlights
- Well‑maintained three‑unit triplex with private townhome‑style layouts
- On‑site tenant laundry room
- All units are 2 bedrooms with 1.5 baths (listed as 2 baths in some systems, but actually 1.5)
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
$61,833
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
5.62%
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%
$1,236,660
$1.2M
Cap Rate 7%
$883,329
$883.3K
Cap Rate 9%
$687,033
$687.0K
Market Conditions
NOI Build-Up for 3,608 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
$92.0K $25.50/SF
− Vacancy
−$3.7K −$1.02/SF
EGI
$88.3K $24.48/SF
− OpEx
−$26.5K −$7.34/SF
NOI
$61.8K $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%
$1,236,660
Cap Rate 7%
$883,329
Cap Rate 9%
$687,033
Alternative Uses
Best Use
Multifamily LT 5
$883.3K
$772.9K – $1.03M
NOI $61,833 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$814.7K
$712.9K – $950.5K
NOI $57,032 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,703 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,086
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-unit triplex with private townhome-style units and on-site tenant laundry room.
Where is this triplex located?
The property is located at 220 S Palm Ave Santa Paula, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Well‑maintained three‑unit triplex with private townhome‑style layouts; On‑site tenant laundry room; All units are 2 bedrooms with 1.5 baths (listed as 2 baths in some systems, but actually 1.5)
