Duplex With Detached
For Sale
Under Contract
$998,500
386 Larmier, Oak View, CA 93022
Oak View, CA
Property Size1,650 SF
Lot Size0.11 Acres
Price / SF$605.15
Days on Market98
Property Features for 386 Larmier
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Carport
Appliances
Gas Water Heater
Subdivision
Ojai: Other
Standard status
Active Under Contract
APN
0610123010
Size
1,650 SF
Lot size
0.11 Acres
Utilities
Heating system
Central
Cooling system
Zoned, Central Air
Building Details
Year built
1948
Floors in Building
1
Roof type
Composition
Listing Agency:
BHGRE Property Shoppe · Better Homes and Gardens Real Estate
(805) 856-8283
Listed By:
Donna Wood · License #01230954
(805) 340-2741
Added: May 27
Changed: Aug 31
Last Checked: Sep 1 at 7:06PM
MLS# V1-36634
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 duplex combines a 1948 main residence with a detached 2023 ADU on a 0.11-acre corner lot. The primary home provides 3 bedrooms and 1 bathroom, with wood floors, dual-pane windows, a wood-burning fireplace, a dining room, and an expanded kitchen featuring quartz counters, contemporary cabinetry, stainless steel appliances, and substantial storage. Interior laundry, a 220-amp electrical panel, Lennox HVAC, updated windows, newer paint, and a newer main gas line add to the existing improvements.
The 1-bedroom, 1-bathroom ADU has its own street-facing entrance and yard. Its interior includes luxury plank flooring, recessed lighting, dual-pane windows, quartz kitchen counters, a farmhouse sink, and a garden window. The bedroom includes a large closet and skylight, while a Mitsubishi dual-zone climate system, updated wiring and plumbing, and spray-foam insulation provide additional features. A covered two-car carport serves both residences. The property is within walking distance of a local market and coffee and donut shops, with access to Ojai, Ventura, the Ojai Valley bike trail, and the coast.
The 1-bedroom, 1-bathroom ADU has its own street-facing entrance and yard. Its interior includes luxury plank flooring, recessed lighting, dual-pane windows, quartz kitchen counters, a farmhouse sink, and a garden window. The bedroom includes a large closet and skylight, while a Mitsubishi dual-zone climate system, updated wiring and plumbing, and spray-foam insulation provide additional features. A covered two-car carport serves both residences. The property is within walking distance of a local market and coffee and donut shops, with access to Ojai, Ventura, the Ojai Valley bike trail, and the coast.
Key Highlights
- Two residences on a 0.11‑acre corner lot
- 1,650 square feet with a 3BD/1BA main home and 1BD/1BA ADU
- Detached ADU completed in 2023 with a private street‑facing entrance and yard
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
$28,277
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
2.83%
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%
$565,540
$565.5K
Cap Rate 7%
$403,957
$404.0K
Cap Rate 9%
$314,189
$314.2K
Market Conditions
NOI Build-Up for 1,650 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
$42.1K $25.50/SF
− Vacancy
−$1.7K −$1.02/SF
EGI
$40.4K $24.48/SF
− OpEx
−$12.1K −$7.34/SF
NOI
$28.3K $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%
$565,540
Cap Rate 7%
$403,957
Cap Rate 9%
$314,189
Alternative Uses
Best Use
Multifamily LT 5
$404.0K
$353.5K – $471.3K
NOI $28,277 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$372.6K
$326.0K – $434.7K
NOI $26,082 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$566.4K
$495.6K – $660.9K
NOI $39,651 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 93022, CA
6,172
Population
2,264
Households
2.7
Avg Household Size
44
Median Age
30%
College-Educated
88%
High-School Grad
3.1 sq mi
ZIP Area
1,991
Density / Sq Mi
$109,471
Median Household Income
$43,545
Median Earnings
$2,489
Median Rent
$704,500
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?
Duplex - Corner-lot property with two separate residences, private outdoor areas, and a covered two-car carport.
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 $998,500.
What are key features of this property?
This property features: Two residences on a 0.11‑acre corner lot; 1,650 square feet with a 3BD/1BA main home and 1BD/1BA ADU; Detached ADU completed in 2023 with a private street‑facing entrance and yard
