Three-Unit Townhome
For Sale
Under Contract
$1,100,000
220 S Palm Avenue, Santa Paula, CA 93060
Santa Paula, CA
Property Size3,608 SF
Lot Size0.15 Acres
Price / SF$304.88
Days on Market112
Property Features for 220 S Palm Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Assigned
Appliances
Dishwasher
Subdivision
Santa Paula: Other - 0051
Standard status
Active Under Contract
APN
1050090305
Size
3,608 SF
Lot size
0.15 Acres
Utilities
Heating system
Forced Air
Amenities
patio
backyard
laundry room
storage
Building Details
Year built
1979
Listing Agency:
Albert Goldberg
(805) 797-3862
Listed By:
Albert Goldberg · License #01067575
(805) 797-3862
Added: May 13
Changed: Aug 31
Last Checked: Sep 1 at 10:06PM
MLS# V1-36403
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 contains three townhome-style units within a 3,608-square-foot building on a 6,534-square-foot lot. Each residence measures approximately 1,200 square feet and includes two bedrooms, one and a half baths, a private patio, a dishwasher, and forced-air heating. One unit also has a backyard extending along the length of the property. Each residence includes two assigned carport spaces and individual storage. The property is being sold as-is.
Gas and electric service are separately metered for each unit, while water is master metered. A laundry room provides an additional on-site feature. The lot includes room identified for potential ADU development, subject to applicable approvals. Located in Santa Paula, the property offers three residential units within a single multifamily asset.
Gas and electric service are separately metered for each unit, while water is master metered. A laundry room provides an additional on-site feature. The lot includes room identified for potential ADU development, subject to applicable approvals. Located in Santa Paula, the property offers three residential units within a single multifamily asset.
Key Highlights
- Three townhome‑style units in a 3,608‑square‑foot building
- 6,534‑square‑foot lot with identified room for potential ADU development
- Each unit has 2 bedrooms, 1.5 baths, and approximately 1,200+/- square feet
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 - Well-maintained income property with private patios, assigned parking, storage, and separately metered gas and electric service.
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 townhome‑style units in a 3,608‑square‑foot building; 6,534‑square‑foot lot with identified room for potential ADU development; Each unit has 2 bedrooms, 1.5 baths, and approximately 1,200+/- square feet
