10-Unit Apartment Corner
3402 Rexford Street Ventura, CA 93003
3402 Rexford Street, Ventura, CA, 93003
$3,350,000
For Sale
$3,350,000
Ten fully rented apartment units on a corner lot with separate electric and gas meters and owner-owned coin laundry.
Property Size9,330 SF
Price / SF$359.06
Days on Market29
Property Features for 3402 Rexford Street
General Information
- Standard status
- Active
- Size
- 9,330 SF
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1965
Listing agency
BHHS California Properties
(805) 320-0225
Listed by
Karen Campbell · License #01042566
(805) 320-0225
Source
Compass
Added: Jun 24 Updated: Jul 21 at 10:33AM Checked: Jul 22 at 10:39AM
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 BHHS California Properties
Investment Insights
Based on property information with market context.
This 10-unit apartment complex offers a unit mix of eight 2-bedroom, one 1-bedroom, and one 2-bedroom unit, with all units described as being in good condition. Updates include a new roof and fascia boards installed approximately 60,000 (as referenced in the provided remarks). The property includes nine open-ended carports, and utilities are separately metered for electric and gas. Owner-owned coin laundry is also on site.
The property is located on the corner of Rexford and Sidonia and is described as being close to Pacific View Mall, Lowe’s, Community Memorial Hospital and Ventura County Medical Center, Ventura College, and local beaches. Easy access to the 101 and 126 freeways is also noted, and the complex is reported as 100% rented.
As provided, the unit mix reflects long-term tenants, with an average unit size of 828 square feet across the mix. A rent roll and cash flow information are available upon request.
The property is located on the corner of Rexford and Sidonia and is described as being close to Pacific View Mall, Lowe’s, Community Memorial Hospital and Ventura County Medical Center, Ventura College, and local beaches. Easy access to the 101 and 126 freeways is also noted, and the complex is reported as 100% rented.
As provided, the unit mix reflects long-term tenants, with an average unit size of 828 square feet across the mix. A rent roll and cash flow information are available upon request.
Key Highlights
- 10‑unit apartment complex on a corner lot at Rexford and Sidonia
- 100% rented with long‑term tenants; unit mix includes eight 2+1.5 and two 1+1.5/2+1 units
- New roof and fascia boards installed approx. 60,000 (per remarks)
Local Financial Insights For Apartment 5plus
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 | $335.9k | $36.00 |
| − Vacancy | −$13.4k | −$1.44 |
| EGI | $322.4k | $34.56 |
| − OpEx | −$145.1k | −$15.55 |
| NOI | $177.3k | $19.01 |
9,330 SF · lease $36.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.53M
$2.22M – $2.96M
NOI $177,345 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.63M
$4.93M – $6.57M
NOI $394,286 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Ten fully rented apartment units on a corner lot with separate electric and gas meters and owner-owned coin laundry.
Where is this apartment building located?
The property is located at 3402 Rexford Street Ventura, CA.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 10‑unit apartment complex on a corner lot at Rexford and Sidonia; 100% rented with long‑term tenants; unit mix includes eight 2+1.5 and two 1+1.5/2+1 units; New roof and fascia boards installed approx. 60,000 (per remarks)
