NOT LISTED FOR SALE

3574 Preble Ave Ventura, CA 93003

Midtown Neighborhood
-- Bed
-- Bath
25,004 Sq Ft
0.57 Acres

Last Sold December 22, 2023

Last sale price $9,800,000 $392 Per Sq Ft

25 Days on Market

Highlights

  • 0.57 Acre Lot
  • Laundry Room
  • 38 Car Garage
  • Cabrillo Middle School Rated A-

About This Home

As of December 2023

Value-add 38 unit apartment building opportunity for only $267k/unit in the low turnover sale marketplace of city of Ventura. 14.1 GRM, 4.4% CAP on actual and 11.0 GRM, 6.3% CAP on market rents. Tradewinds Apartments is set on a .89 acre lot w/ garage parking, pool and laundry room. Convenient location near Pacific View Mall & Lowes, Community Memorial Hospital, Ventura College, Ventura Harbor and local beaches plus easy access to both the 101 and 126 freeways. Unit mix consists of (1) 3BD/1BA, (4) 2BD/1BA, (18)1BD/1BA and (15) studios. Utilities sep metered for electric and gas and (2) 100 gallon water heaters service building. Major upside in rental rates. Available reports include: General inspection, termite, roof and sewer lateral. OFFER DUE DATE AUG 4th @ 12PM

Last Agent to Sell the Property

Nick Henry

Beachside Partners License #01748131 Listed on: 07/19/2023

Last Buyer's Agent

Nick Henry

Beachside Partners License #01748131 Listed on: 07/19/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.57

Parking

  • 38 Car Garage

Home Design

  • 25,004 Sq Ft Home

Additional Features

  • Laundry Room
  • 0.57 Acre Lot
  • Individual Gas Meter

Community Details

  • 38 Units
  • Gross Income $718,248

Listing and Financial Details

  • Assessor Parcel Number 075-0-284-145

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

38

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1962
  • Income Expenses Annual Income: 718248.0
  • Capitalization Rate: 4.4
  • Gross Rent Multiplier: 14.1
  • Monthly Income: 59854.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • ResoLaundryFeatures: Laundry Room
  • Garage Yn: Yes
  • Property Information Year Built2: 1962
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • Laundry Laundry Room2: Yes
  • Property Information Main House SqFt: 25004.0
  • Property Information Apx Lot SqFt: 25004.0
  • Parking Info Garages: Yes
  • Parking Info Total # Garage Spaces2: 38.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.57

Garage/Parking

  • Garage Spaces: 38.0
  • Parking Features: Garages

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Parcel #: 075-0-284-145
  • Zoning: Other
  • Lot Size Sq Ft: 25004.0

Multi Family

  • Number Of Units Total: 38
  • Annual Gross Income: 718248.0
  • Total Actual Rent: 59854.0

Range of Values:

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Value Increase
--
Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/22/2023 12/22/23 Sold $9,800,000 -3.0% $392 / Sq Ft
08/13/2023 08/13/23 Pending -- -- --
07/19/2023 07/19/23 For Sale $10,100,000 -- $404 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Nick Henry

    Seller's Agent in 2023

    Nick Henry

    Beachside Partners

    (805) 705-7311

    5 in this area

    59 Total Sales

    Nick Henry
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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 23-2132

Santa Barbara Multiple Listing Service

APN: 075-0-284-145

California Ventura County Ventura 93003 Midtown

3574 Preble Ave, Ventura, CA

Not Listed for Sale

MultiFamily

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