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Multifamily

Pacific Palms Apartments

512 Cedar St, Ventura, CA 93001

Listing Price: $8,000,000

Cap Rate
4.64%
Number of Units
32
GRM
13.02
Occupancy
95.0%
Price/Unit
$250,000
Price/Gross SF
$369.38
Gross SF
21,658

Investment Overview

Marcus & Millichap is pleased to present the Pacific Palms Apartment Homes, a thirty-two (32) unit value add apartment building located at 512 Cedar Street in Ventura, California. The 21,658 square foot building consists of seventeen (17) one-bedroom / one-bathroom units and fifteen (15) two-bedroom / one-bathroom units and sits on a 3.22 acre lot. The units have been well maintained and some units have ocean views. The property features two on-site laundry rooms, landscaped courtyard, on-site carport parking and garages which are rented for additional income. This building has been sub-metered for electric.

The property is just a short walk to the area attractions such as the Ventura County Fairgrounds, Ventura City Hall, Surfers Point at Seaside Park, West Park and the Ventura Amtrak Station. The property is also walking distance to cafes, restaurants, coffee shops and retail along Main Street and the surrounding downtown area. Conveniently located near the 101 and 33 Freeways, residents are just a short drive from the neighboring cities of Oxnard, Camarillo, Ojai, Carpinteria, Montecito and Santa Barbara.

Investment Highlights

  • Rare Opportunity 32-Unit Apartment Building Located Blocks from the Beach in Ventura
  • Value Add Opportunity Through Implementation of Renovation Plan
  • Excellent Unit Mix: (17) 1-Bed/1-Bath Units and (15) 2-Bed/1-Bath Units

Exclusively Listed By

Multifamily

Pacific Palms Apartments

Listing Price: $8,000,000

Cap Rate
4.64%
Number of Units
32
GRM
13.02
Occupancy
95.0%
Price/Unit
$250,000
Price/Gross SF
$369.38
Gross SF
21,658

Investment Highlights

  • Rare Opportunity 32-Unit Apartment Building Located Blocks from the Beach in Ventura
  • Value Add Opportunity Through Implementation of Renovation Plan
  • Excellent Unit Mix: (17) 1-Bed/1-Bath Units and (15) 2-Bed/1-Bath Units

Investment Overview

Marcus & Millichap is pleased to present the Pacific Palms Apartment Homes, a thirty-two (32) unit value add apartment building located at 512 Cedar Street in Ventura, California. The 21,658 square foot building consists of seventeen (17) one-bedroom / one-bathroom units and fifteen (15) two-bedroom / one-bathroom units and sits on a 3.22 acre lot. The units have been well maintained and some units have ocean views. The property features two on-site laundry rooms, landscaped courtyard, on-site carport parking and garages which are rented for additional income. This building has been sub-metered for electric.

The property is just a short walk to the area attractions such as the Ventura County Fairgrounds, Ventura City Hall, Surfers Point at Seaside Park, West Park and the Ventura Amtrak Station. The property is also walking distance to cafes, restaurants, coffee shops and retail along Main Street and the surrounding downtown area. Conveniently located near the 101 and 33 Freeways, residents are just a short drive from the neighboring cities of Oxnard, Camarillo, Ojai, Carpinteria, Montecito and Santa Barbara.

Exclusively Listed By

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