Listed by Colliers - Los Angeles - Orange County, California
$9,370,155
401 - 433 West Ramona Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 21,840
Net Rentable (SqFt) 21,840
Units 17
Cap Rate 5.73%
NOI $536,758
Tenancy Multi
Rent Bumps No
Pro-Forma Cap Rate 9.00%
Price per SqFt $429
Year Built 1972
Buildings 4
Acreage 0.820
Zoning R3-5
Parking Spaces 21 spaces
Parking Per SqFt 0.96
Investment Type Value Add
Sale Condition 1031 exchange
Multifamily | 17 Units | $551,186/unit
Marketing description
401–433 W. Ramona Street is a 17-unit multifamily investment opportunity located in Ventura's highly supply-constrained rental market. The property consists of approximately 21,840 square feet situated on a ±0.82-acre parcel and is currently operating at full occupancy. Built in 1972 and zoned R3-5 (Multiple Family Residential), the asset offers investors a stable income stream with significant long-term upside through rent growth, unit renovations, operational efficiencies, and potential density enhancements. Immediate operational stability. Strong rental market supports continued rent growth.
Investment highlights
- % Occupied Coastal California Multifamily Asset – Stabilized 17-unit apartment community with strong in-place cash flow in one of Southern California's most supply-constrained rental markets.
- Large Family-Oriented Unit Mix – Consists primarily of spacious 3-bedroom and 4-bedroom units, a highly desirable product type with limited competing inventory in Ventura.
- Strong Rent Growth Potential – Opportunity to increase rents through interior renovations, utility reimbursement programs (RUBS), ancillary income, and continued market appreciation. Ventura continues to experience housing shortages and elevated rental demand.
- No Local Rent Control Advantage – Ventura is not subject to the more restrictive rent-control regulations found in many California coastal markets, providing greater operational flexibility for ownership.
- Value-Add Income Opportunities – Existing garages, carports, and gated parking areas may provide additional revenue opportunities through storage, parking income, or operational enhancements.
- Large 0.82-Acre Site – Significant land component for a 17-unit asset, offering long-term redevelopment, density, or ADU potential subject to city approvals and zoning requirements.
- Gated Community with On-Site Management Features – Attractive tenant amenities include gated access, on-site management capabilities, garages, carports, and washer/dryer hookups.
- Inflation Hedge Through Residential Real Estate – Multifamily assets in coastal California have historically benefited from strong occupancy, recurring rent growth, and limited new housing supply.
Listing Contacts
Listed by Colliers - Los Angeles - Orange County, California
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$536,758.00
$44,729.83/mo
Valuation Metrics
0
DSCR
5.73%
Cap Rate
5.73%
ROI
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Zoning
R-3-5 ResidentialMulti FamilyMultiple Family 5 Residential
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View all 34 uses
View all 34 uses Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics
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