Three-Unit Townhome
For Sale
Under Contract
$1,100,000
220 S Palm Avenue, Santa Paula, CA 93060
Triplex, Santa Paula, CA
Property Size3,608 SF
Lot Size0.15 Acres
Price / SF$304.88
Days on Market113
Property Features for 220 S Palm Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
3
Half bathrooms
3
Rooms
Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 6, Bedroom 1, Bedroom 6, Bathroom 5, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2
Parking features
Carport
Appliances
Dishwasher, Gas Oven, Gas Range
Elementary school district
Santa Paula
Middle school district
Santa Paula
High school district
Santa Paula
Subdivision
VC54 - Santa Paula SW
Standard status
Active Under Contract
APN
1050090305
Size
3,608 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
patio
laundry room
storage
Building Details
Year built
1979
Listing Agency:
Albert Goldberg
(805) 797-3862
Listed By:
Albert Goldberg · License #01067575
(310) 721-7653
Added: May 13
Changed: Sep 2
Last Checked: Sep 2 at 10:06AM
MLS# V1-36401
Copyright © 2026 California Regional MLS - Pasadena-Foothills and Ventura County Coastal. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1979 triplex comprises three townhome-style residences within a 3,608-square-foot building. Each unit measures approximately 1,200 square feet and includes two bedrooms, one and one-half bathrooms, a private patio, a kitchen with a dishwasher, gas oven, and gas range, plus forced-air heating. One residence also has an extended backyard. The property is maintained in its existing condition and includes a laundry room and individual storage areas.
The 6,534-square-foot lot provides two dedicated carport spaces for each residence. Gas and electricity are separately metered by unit, with those utility costs paid directly by residents; water is master metered and paid by the owner. Public water and public sewer serve the property.
The 6,534-square-foot lot provides two dedicated carport spaces for each residence. Gas and electricity are separately metered by unit, with those utility costs paid directly by residents; water is master metered and paid by the owner. Public water and public sewer serve the property.
Key Highlights
- Three units, each with 2 bedrooms and 1.5 bathrooms
- 3,608+/- SF building on a 6,534+/- SF lot
- Each residence measures approximately 1,200+/- SF
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
Lease Details
3
Residential units
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Triplex - Separately metered gas and electricity support tenant-paid utility billing, while water remains on a master meter.
Where is this triplex located?
The property is located at 220 S Palm Avenue 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: Three units, each with 2 bedrooms and 1.5 bathrooms; 3,608+/- SF building on a 6,534+/- SF lot; Each residence measures approximately 1,200+/- SF
