Fourplex Residential Income
228 S 4th Street Santa Paula, CA 93060
228 S 4th Street, Santa Paula, CA, 93060
$949,900
For Sale
$949,900
MULTI_FAMILY - Santa Paula, CA
Property Size1,924 SF
Lot Size0.16 Acres
Price / SF$493.71
Days on Market66
Property Features for 228 S 4th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 1
- Standard status
- Active
- APN
- 1030211175
- Size
- 1,924 SF
- Lot size
- 0.16 Acres
Building Details
- Year built
- 1927
Listing Agency
Albert Goldberg
(805) 797-3862
1169 Shelburn Ln, Ventura, CA 93001, Ventura, CA
Listed by
Albert Goldberg · License #01067575
(805) 797-3862
Added: May 13 Checked: Jul 17 at 6:06 am
MLS# V1-36396
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 fourplex offers four well-maintained residential units in a thoughtfully designed, low-profile layout. The property includes two duplexes on one lot and features four detached garages, with parking spaces provided for the units. The home is described as nicely maintained and well-built.
Utilities are structured with gas and electric bills paid by the tenant units, supported by separate electric and gas meters for each unit. Water is master metered, with the water bill paid by the owner. The property is being sold as-is, and buyers are instructed not to speak with the tenants.
Additional details include a cited lot size of approximately 0.16 acres and a referenced potential for ADU build-out. The listing notes other income property options as well, but this offering is described as a four-plex to begin.
Utilities are structured with gas and electric bills paid by the tenant units, supported by separate electric and gas meters for each unit. Water is master metered, with the water bill paid by the owner. The property is being sold as-is, and buyers are instructed not to speak with the tenants.
Additional details include a cited lot size of approximately 0.16 acres and a referenced potential for ADU build-out. The listing notes other income property options as well, but this offering is described as a four-plex to begin.
Key Highlights
- Four‑unit property built in 1927 (two duplexes on one lot)
- 6969+/- SF lot with potential ADU build‑out
- Four detached garages on‑site
Local Financial Insights For Multifamily LT 5
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 | $49.1k | $25.50 |
| − Vacancy | −$2.0k | −$1.02 |
| EGI | $47.1k | $24.48 |
| − OpEx | −$14.1k | −$7.34 |
| NOI | $33.0k | $17.14 |
1,924 SF · lease $25.50/SF/yr · vacancy 3.99% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.2K – $549.6K
NOI $32,973 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$660.5K
$577.9K – $770.6K
NOI $46,235 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained fourplex with detached garages and tenant-paid gas and electric via individual meters.
Where is this quadplex located?
The property is located at 228 S 4th Street Santa Paula, CA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four‑unit property built in 1927 (two duplexes on one lot); 6969+/- SF lot with potential ADU build‑out; Four detached garages on‑site
