NOT LISTED FOR SALE

407 Ojai Rd Santa Paula, CA 93060

Estimated Value: $2,660,000 - $2,671,112

-- Bed
-- Bath
-- Sq Ft
0.39 Acres

Last Sold July 16, 2024

Last sale price $2,691,620

Est. 1% decrease in value since last sale

Current estimated payment $16,006/month

182 Days on Market

About This Home

As of July 2024

Completely renovated ''inside and out'' in 2022, this 5% cap 8-unit property is situated within a gated community that offers its tenant community privacy and security. With its highly desired individual 3 Bedroom cottage-style units that offer laundry hook-ups, this apartment community has been able to generate generous rents of about $2,400/unit. Its gross annual rent of $232,000 on the asking price of $2,895,000 equates to a 12.5 GRM. Specific property updates include all new electrical, plumbing, interior flooring, walls, bathrooms, and kitchens. This property will undoubtedly appeal to those investors seeking a ''turnkey'' investment in the strong rental community of Santa Paula.

Last Agent to Sell the Property

Craig Lieberman

Apartment Investment Specialists License #00682741 Listed on: 05/03/2024

Apartment Investment Specialists

Last Buyer's Agent

Nick Henry

Beachside Partners License #01748131

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,786

Year Built

  • Built in 1940

Lot Details

  • Property is in excellent condition

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 101-0-141-265

Community Details

Overview

  • 8 Units

Building Details

  • Operating Expense $79,264
  • Gross Income $231,780
  • Net Operating Income $145,563

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,786

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1940
  • Income Expenses Annual Income: 231780.0
  • Capitalization Rate: 5.0
  • Gross Rent Multiplier: 12.5
  • Annual Expenses: 79264.0
  • Monthly Income: 19315.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 1940
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • HeatingCooling Wall3: Yes
  • Condition Excellent: Yes
  • IncomeExpenses NOI2: 145563
  • Special Features: None
  • Property Sub Type: MultiFamily

Schools

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

Lot Info

  • Parcel #: 101-0-141-265
  • Zoning: R-3

Multi Family

  • Number Of Units Total: 8
  • Annual Gross Income: 231780.0
  • Annual Operating Expense: 79264.0
  • Total Actual Rent: 19315.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 9, 2024
Sold by
11412 Nardo Street Llc
Bought by
Geer Jason Everett
Current Estimated Value
$2,665,556

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,375,000
Interest Rate
7.03%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 13, 2021
Sold by
Colvard Stephen Randall and Colvard Family Bypass Trust
Bought by
11412 Nardo Street Llc

Purchase Details

Closed on
Aug 10, 2021
Sold by
Genelle Colvard Margaret
Bought by
Colvard Family Revocable Trust

Purchase Details

Closed on
Sep 7, 2017
Sold by
Colvard Margaret Genelle and The Colvard Family Revocable T
Bought by
Colvard Margaret Genelle and Colvard Stephen Randall

Purchase Details

Closed on
Sep 23, 2003
Sold by
Colvard Buddy Ray and Colvard Margaret Genelle
Bought by
Colvard Buddy Ray and Colvard Margaret Genelle

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
5.98%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Geer Jason Everett $2,692,000 Fidelity National Title
11412 Nardo Street Llc $1,475,000 Lawyers Title
Colvard Family Revocable Trust -- --
Colvard Margaret Genelle -- None Available
Colvard Buddy Ray -- Old Republic Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Geer Jason Everett $1,375,000
Previous Owner Colvard Margaret Genelle $250,000
Previous Owner Colvard Buddy Ray $105,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/16/2024 07/16/24 Sold $2,691,620 0.0% --
05/03/2024 05/03/24 Pending -- -- --
05/02/2024 05/02/24 Off Market $2,691,620 -- --
03/03/2024 03/03/24 For Sale $2,895,000 +7.6% --
03/02/2024 03/02/24 Off Market $2,691,620 -- --
11/13/2023 11/13/23 Price Changed $2,895,000 -1.9% --
11/03/2023 11/03/23 For Sale $2,950,000 -- --
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $17,786 $2,691,620 $600,000 $2,091,620
2024 $17,786 $1,534,428 $624,240 $910,188
2023 $17,412 $1,504,420 $612,000 $892,420
2022 $16,912 $1,475,000 $600,000 $875,000
2021 $2,102 $171,525 $73,206 $98,319
2020 $2,093 $169,768 $72,456 $97,312
2019 $1,983 $166,440 $71,036 $95,404
2018 $1,959 $163,178 $69,644 $93,534
2017 $1,981 $159,979 $68,279 $91,700
2016 $1,867 $156,843 $66,941 $89,902
2015 $1,789 $154,489 $65,937 $88,552
2014 $1,816 $151,465 $64,647 $86,818
Source: Public Records

Agents Affiliated with this Home

  • Craig Lieberman

    Seller's Agent in 2024

    Craig Lieberman

    Apartment Investment Specialists

    (805) 687-5557

    4 in this area

    24 Total Sales

    Section Image
  • Nick Henry

    Buyer's Agent in 2024

    Nick Henry

    Beachside Partners

    (805) 705-7311

    9 in this area

    60 Total Sales

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 23-3326

Santa Barbara Multiple Listing Service

APN: 101-0-141-265

California Ventura County Santa Paula 93060

407 Ojai Rd, Santa Paula, CA

This home is located at 407 Ojai Rd, Santa Paula, CA 93060 since 03 May 2024 and is currently estimated at $2,665,556. This property was built in 1940. 407 Ojai Rd is a home located in Ventura County with nearby schools including Barbara Webster Elementary School, Isbell Middle, and Santa Paula High.

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