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    Two-Home Corner Lot Income Property Title is generated by Realmo AI

    386 Larmier, Oak View, CA 93022

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    Two separate residences with private yards provide flexible living or rental options on a single corner lot.

    Type:Multifamily
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 1 at 2:58 pm

    Property Features for 386 Larmier

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Donna Wood

    Listing agent Donna Wood

    Listing office Better Homes and Gardens Real Estate Property Shoppe

    Listing date May 27, 2026

    Source Crexi

    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 Better Homes and Gardens Real Estate Property Shoppe

    HighLights

    • Single corner lot with 2 residences: 1948 main home (3BD/1BA) plus a 2023 detached ADU (1BD/1BA)
    • Main home features wood flooring, dual‑pane windows, and a wood‑burning fireplace; includes spacious dining room and expanded kitchen with quartz counters
    • Main home updates include a 220‑amp electrical panel, Lennox HVAC, newer paint and windows, and a newer main gas line
    • ADU has private street‑facing entry and its own small yard; luxury plank flooring, recessed lighting, and dual‑pane windows throughout
    • ADU bedroom includes oversized closet and skylight; equipped with a Mitsubishi dual‑zone climate system, updated wiring/plumbing, and spray‑foam insulation
    • Property includes a two‑car covered carport and each home has its own entrance and yard

    Overview

    This property features two homes on one corner lot: a 1948 main residence with 3 bedrooms and 1 bathroom, and a detached 2023 ADU with 1 bedroom and 1 bathroom. Each home has its own entrance and yard, supporting privacy and separate occupancy. The main home includes wood flooring, dual-pane windows, and a wood-burning fireplace, with a spacious dining room and an expanded kitchen. The kitchen is appointed with quartz countertops, modern cabinetry, stainless steel appliances, and generous storage. Interior features include mirrored closet doors and an interior laundry area, along with major system upgrades such as a 220-amp electrical panel, Lennox HVAC, newer paint and windows, and a newer main gas line.

    The detached ADU is street-facing with a private entry and its own small yard. Interior finishes include luxury plank flooring, recessed lighting, and dual-pane windows throughout. The kitchen has floating bamboo flooring, quartz counters, a farmhouse sink, and a garden window. The bedroom includes an oversized closet, a skylight, and a Mitsubishi dual-zone climate system, with updated wiring and plumbing and energy-efficient spray-foam insulation. A two-car covered carport provides convenient parking.

    For buyers seeking a residential income setup in Oak View, CA, the separate entrances and yards can support flexible use, whether used as multi-generational housing or as two independent rental units. The property is described as being within walking distance of a local market, coffee and donut shops, and a popular breakfast spot, with easy access to Ojai, Ventura, the Ojai Valley bike trail, and the coast.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak View
    County
    Ventura
    State
    California
    Longitude
    -119.3043928
    Latitude
    34.3929168

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    FAQs

    What type of property is this?
    Duplex - Two separate residences with private yards provide flexible living or rental options on a single corner lot.
    Where is this duplex located?
    The property is located at 386 Larmier Oak View, CA.
    What is the asking price?
    The asking price for this property is $997,000.
    What are key features of this property?
    This property features: Single corner lot with 2 residences: 1948 main home (3BD/1BA) plus a 2023 detached ADU (1BD/1BA); Main home features wood flooring, dual‑pane windows, and a wood‑burning fireplace; includes spacious dining room and expanded kitchen with quartz counters; Main home updates include a 220‑amp electrical panel, Lennox HVAC, newer paint and windows, and a newer main gas line
    We can help!
    Contact for Pricing
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    and status of this listing
    Donna Wood
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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