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    Property profile & analytics

    234 Ml St Santa Paula, CA 93060-3624

    • Apartment buildings
    • 4,108 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $675,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1479652
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 234 Ml St

    Lot size
    0.19 lot acres
    Property size
    4,108 SF
    Zone code
    R-3
    Property type
    Apartment buildings
    APN
    103-0-241-645
    APU
    1030241645

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Paula
    County
    Ventura
    State
    California
    Longitude
    -119.06
    Latitude
    34.3507
    CBSA code
    37100
    CBSA name
    OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,467
    $253,445
    $398,278
    $651,723
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $920,000
      4,408 SF

      401 Oak St

      APARTMENT HOUSE (5+ UNITS) • 4,408 SF
      401 Oak St, Santa Paula, CA 93060-2206
      View Details
    • Value Estimation
      $1,215,000
      8,798 SF

      1208 Ventura St

      APARTMENT HOUSE (5+ UNITS) • 8,798 SF
      1208 Ventura St, Santa Paula, CA 93060-2962
      View Details
    • Value Estimation
      $1,075,000
      7,866 SF

      525 Acacia Rd

      APARTMENT HOUSE (5+ UNITS) • 7,866 SF
      525 Acacia Rd, Santa Paula, CA 93060-3532
      View Details
    • Value Estimation
      $1,885,000
      16,199 SF

      220 Garcia St

      APARTMENT HOUSE (5+ UNITS) • 16,199 SF
      220 Garcia St, Santa Paula, CA 93060-4654
      View Details
    • Value Estimation
      $1,070,000
      9,600 SF

      711 Pleasant St

      APARTMENT HOUSE (5+ UNITS) • 9,600 SF
      711 Pleasant St, Santa Paula, CA 93060-2070
      View Details
    • Value Estimation
      $1,050,000
      6,587 SF

      180 Pleasant St

      APARTMENT HOUSE (5+ UNITS) • 6,587 SF
      180 Pleasant St, Santa Paula, CA 93060-1547
      View Details

    Similar Nearby for Sale

    • $850,000
      Pending

      Santa Paula Multifamily Investment Opportunity

      Five-unit property in a thriving neighborhood with high rental occupancy.
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    • $850,000

      Five-Unit Multifamily Investment Opportunity

      Five-unit property with high rental occupancy rate in a thriving neighborhood.
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    • $1,595,000

      Historic Santa Paula Corner Property

      Two-story historical building with chapel and apartments in Santa Paula.
      738 E Santa Paula St, Santa Paula, CA 93060
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    • $850,000

      Five-Unit Multifamily Investment Opportunity

      Five-unit property with high rental occupancy in a thriving neighborhood.
      317 N Ojai St, Santa Paula, CA 93060
      View Details
    • $1,499,000

      Industrial Property with Residential Income

      One-acre light industrial property with residential income in Santa Paula.
      870 Corporation St, Santa Paula, CA 93060
      View Details
    • $1,499,000

      Industrial Property with Residential Income

      Approx. 1-acre light industrial property with residential income component.
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    Similar Nearby for Lease

    • $24 SF/Yr
      2,400 SF

      Prime Santa Paula Medical Office

      1,200 SF Medical Office Space Available
      243 10Th St, Santa Paula, CA 93060
      View Details
    • $0.18 SF/Yr
      1 SF

      Land for Lease in Santa Paula

      2-acre land available for lease in Santa Paula, California.
      950 Mission Rock Rd, Santa Paula, CA 93060
      View Details
    • $1.75 SF/Yr
      9,000 SF

      Santa Paula Office Space Available

      Second floor office space available for rent in Santa Paula.
      725 E Main St, Santa Paula, CA 93060
      View Details
    • Contact for pricing
      239,580 SF

      Industrial Zoned Land For Rent

      5.5 acres of industrial-zoned land available for rent.
      910 Mission Rock Rd, Santa Paula, CA 93060
      View Details
    • $25,000

      Santa Paula Farm Ground For Lease

      Farm ground available for lease in Santa Paula, California.
      000 Faulkner Rd, Santa Paula, CA 93060
      View Details
    • $26 SF/Yr
      3,400 SF

      Historic Santa Paula Office Space

      Prime Office, 1,913 SF Available
      216 8Th St, Santa Paula, CA 93060
      View Details
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    234 Ml St
    Santa Paula, CA 93060-3624
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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.

    More about this property
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