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Multifamily-Ventura Submarket

$9,370,155

401–433 West Ramona Street, Ventura, CA 93001

Active
Last Updated: 06/28/2026

5.7

Cap Rate

536,758

NOI

Details:
Cap Rate:    5.7%
NOI:    $536,758
Building Size:    21,840 sqft
Lot Area:    0.82 acres
Year Built:    1972
Price Per Sqft:    $446.19
Price Per Unit:    $551,185
Zoning:    R3-5, Ventura
Highlights:
  • 70.6% 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, onsite 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.
Description:

401–433 W. Ramona Street is a 17-unit multifamily investment opportunity located in Ventura’s highly supply-constrained rental market. The property spans approximately 21,000 square feet 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 provides investors with a stable in-place income stream and meaningful long-term upside through rent growth, unit renovations, and operational efficiencies. Additionally, the zoning may offer potential for increased density, subject to city approvals. The property benefits from immediate operational stability and is well-positioned within a strong rental market that supports continued rent growth. Ventura’s attractive quality-of-life fundamentals—including proximity to the coast, historic downtown, and abundant recreational amenities—support sustained tenant demand.

Ongoing investment and revitalization efforts within the downtown core further enhance the area’s appeal, while convenient access to Santa Barbara and the greater Los Angeles region broadens its renter base. The property also captures demand from renters priced out of nearby coastal markets such as Santa Barbara and portions of Los Angeles County. Overall, the asset’s infill location and strong market dynamics create a compelling, risk-adjusted investment opportunity

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Documents:
Title
401-433_W_Ramona_OM.pdf
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