Fourplex with Detached
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 Market71
Property Features for 228 S 4th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 4
- Rooms
- Bedroom 1, Bedroom 2
- 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
Listed by
Albert Goldberg · License #01067575
(805) 797-3862
Added: May 13 Updated: Jul 22 at 11:24AM Checked: Jul 22 at 2:06PM
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.
Well-maintained fourplex offered for sale as-is. The property is described as well-built and features four detached garages, with gas and electric billing paid by tenants based on separate electric and gas meters for each unit. Water is master metered, and the water bill is paid by the owner. The lot is noted as leaving potential for ADU build-out.
Located at 228 S 4th Street in Santa Paula, CA (Ventura County), the offering includes on-site parking for each unit. The seller notes that the units are designed for a quiet lifestyle and that the rental income stream is detailed in the private remarks. Please do not talk to the tenants.
This is a four-unit multifamily investment opportunity for buyers looking to add to a rental portfolio, with the property positioned as a starting point alongside additional nearby multi-unit offerings referenced in the remarks.
Located at 228 S 4th Street in Santa Paula, CA (Ventura County), the offering includes on-site parking for each unit. The seller notes that the units are designed for a quiet lifestyle and that the rental income stream is detailed in the private remarks. Please do not talk to the tenants.
This is a four-unit multifamily investment opportunity for buyers looking to add to a rental portfolio, with the property positioned as a starting point alongside additional nearby multi-unit offerings referenced in the remarks.
Key Highlights
- 1927‑built four‑plex with two bedrooms per unit and 4 detached garages
- Two duplexes on one lot; four rental units on a 6,969+/- SF lot with potential ADU build‑out
- Separate electric and gas meters for each unit—gas and electric bills paid by tenants
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 four-unit property with four detached garages and utilities metered separately for tenants.
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: 1927‑built four‑plex with two bedrooms per unit and 4 detached garages; Two duplexes on one lot; four rental units on a 6,969+/- SF lot with potential ADU build‑out; Separate electric and gas meters for each unit—gas and electric bills paid by tenants
