Renovated Craftsman
For Sale
$1,995,000
732 Poli Street, Ventura, CA 93001
Three permitted units offer separate entrances, historic character, and updated kitchens and bathrooms.
Property Size2,749 SF
Days on Market12
Property Features for 732 Poli Street
General Information
Standard status
Active
Size
2,749 SF
Total Parking Spaces
2
Property subtype
Triplex
Additional Details
Multifamily Units
3
Amenities
private yard
inviting front porch
ocean views
Building Details
Building Size
2,749 SF
Year Built
1920
Construction
Craftsman
Listing Agency:
Mills Realty of California
(818) 763-4462
Listed By:
Simon Mills · License #01309436
Source:
Gtprop
Added: Aug 1
Changed: Aug 11
Last Checked: Aug 11 at 1:12PM
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 Mills Realty of California
Investment Insights
Based on property information with market context.
This triplex includes a preserved 3-bedroom Craftsman residence and two additional permitted units. Each of the three legal units has a separate address and private entrance. The main home retains original woodwork and architectural details while incorporating updated kitchen and bathroom finishes. Living and dining areas, along with the primary bedroom balcony, capture ocean and Channel Islands views.
The property also includes a private yard with a mature producing avocado tree, a front porch, and a 2-car garage. Its setting at 732 Poli Street places it one block from Ventura’s Historic Downtown and within a short walk of the beach, restaurants, shops, farmers markets, festivals, Ventura Botanical Gardens, and pedestrian-friendly Main Street. Built in 1920, the property combines historic residential character with three independent units and updated interiors.
The property also includes a private yard with a mature producing avocado tree, a front porch, and a 2-car garage. Its setting at 732 Poli Street places it one block from Ventura’s Historic Downtown and within a short walk of the beach, restaurants, shops, farmers markets, festivals, Ventura Botanical Gardens, and pedestrian-friendly Main Street. Built in 1920, the property combines historic residential character with three independent units and updated interiors.
Key Highlights
- 3 legal units, each with its own address and private entrance
- 3‑bedroom Craftsman main residence with original woodwork and architectural details
- Ocean and Channel Islands views from living and dining areas and primary bedroom balcony
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
$61,281
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
3.07%
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%
$1,225,620
$1.2M
Cap Rate 7%
$875,443
$875.4K
Cap Rate 9%
$680,900
$680.9K
Market Conditions
NOI Build-Up for 2,749 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
$92.4K $33.60/SF
− Vacancy
−$4.8K −$1.75/SF
EGI
$87.5K $31.85/SF
− OpEx
−$26.3K −$9.55/SF
NOI
$61.3K $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%
$1,225,620
Cap Rate 7%
$875,443
Cap Rate 9%
$680,900
Alternative Uses
Best Use
Multifamily LT 5
$875.4K
$766.0K – $1.02M
NOI $61,281 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$746.5K
$653.2K – $870.9K
NOI $52,253 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,173 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,764
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 permitted units offer separate entrances, historic character, and updated kitchens and bathrooms.
Where is this triplex located?
The property is located at 732 Poli Street Ventura, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 3 legal units, each with its own address and private entrance; 3‑bedroom Craftsman main residence with original woodwork and architectural details; Ocean and Channel Islands views from living and dining areas and primary bedroom balcony
