Three-Unit Condo Income
For Sale
Contact for pricing
42-46 E Thompson Boulevard, Ventura, CA 93001
Three 2006-built condos with private garages, patios, and in-unit laundry, each on a separate APN.
Property Size4,210 SF
Lot Size0.05 Acres
Price / SF$486.94
Days on Market69
Property Features for 42-46 E Thompson Boulevard
General Information
Standard status
Active
Size
4,210 SF
Class
B
Lot size
0.05 Acres
Property subtype
Multifamily
Zoning
T4.3
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$65,070
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
2006
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Compass
(310) 230-5478
Listed By:
John Swartz · License #CA 01873487
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 23 at 11:14AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 2006, this three-unit condominium asset offers condo-quality residences with independent ownership structure. Two units are 2-bedroom, 2-bath homes, and one unit is a 3-bedroom, 2-bath home. Each residence includes a private garage and dedicated private patio, with in-unit washer/dryers, dishwashers, stoves, and additional appliances.
The property is offered for sale at 42-46 E Thompson Boulevard in Ventura. The units are positioned along the 101 Freeway corridor, placing residents within convenient reach of major employment hubs described in the offering, including commercial centers of Oxnard and Camarillo to the south, the tech and biotech corridor anchored by Thousand Oaks, and the Greater Los Angeles market.
From an ownership and tenant management perspective, the three condominiums are held under separate APNs, providing flexibility for holding all units together or disposing of individual units over time. The offering also states the property is not subject to any form of local rent control. Tenants are responsible for electricity and gas, while ownership covers water, trash, and gardening, supporting a straightforward monthly expense structure for day-to-day operations.
The property is offered for sale at 42-46 E Thompson Boulevard in Ventura. The units are positioned along the 101 Freeway corridor, placing residents within convenient reach of major employment hubs described in the offering, including commercial centers of Oxnard and Camarillo to the south, the tech and biotech corridor anchored by Thousand Oaks, and the Greater Los Angeles market.
From an ownership and tenant management perspective, the three condominiums are held under separate APNs, providing flexibility for holding all units together or disposing of individual units over time. The offering also states the property is not subject to any form of local rent control. Tenants are responsible for electricity and gas, while ownership covers water, trash, and gardening, supporting a straightforward monthly expense structure for day-to-day operations.
Key Highlights
- Three‑unit condo property built in 2006 in Ventura
- Unit mix: two 2 bed/2 bath (1,141 SF and 1,418 SF) plus one 3 bed/2 bath (1,651 SF)
- Each unit has a separate APN for flexible ownership and exit options
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
$93,850
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
4.58%
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%
$1,877,000
$1.9M
Cap Rate 7%
$1,340,714
$1.3M
Cap Rate 9%
$1,042,778
$1.0M
Market Conditions
NOI Build-Up for 4,210 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
$141.5K $33.60/SF
− Vacancy
−$7.4K −$1.75/SF
EGI
$134.1K $31.85/SF
− OpEx
−$40.2K −$9.55/SF
NOI
$93.9K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /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%
$1,877,000
Cap Rate 7%
$1,340,714
Cap Rate 9%
$1,042,778
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,850 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$1.14M
$1.00M – $1.33M
NOI $80,024 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,915 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 93001, CA
33,859
Population
14,705
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
96.6 sq mi
ZIP Area
351
Density / Sq Mi
$86,310
Median Household Income
$45,023
Median Earnings
$1,881
Median Rent
$760,700
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?
Triplex - Three 2006-built condos with private garages, patios, and in-unit laundry, each on a separate APN.
Where is this triplex located?
The property is located at 42-46 E Thompson Boulevard Ventura, CA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Three‑unit condo property built in 2006 in Ventura; Unit mix: two 2 bed/2 bath (1,141 SF and 1,418 SF) plus one 3 bed/2 bath (1,651 SF); Each unit has a separate APN for flexible ownership and exit options
