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40 N Brent St, Ventura, CA 93003
$2,487,000
40 N Brent St, Ventura, CA 93003View this property at 40 N Brent St, Ventura, CA 93003
40 N Brent StVenturaCA93003
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Property Description
We are proud to present 40-54 N Brent St, an 8-unit multifamily property located in one of the best pockets of Ventura, CA. The property is directly across the street from the Community Memorial Hospital and walking distance to all the shops and restaurants that Main Street has to offer.The city of Ventura doesn't have any local rent control laws, meaning this property is only subject to California's AB-1482. This limits annual rent increases to 5% + CPI with a ceiling of 10%. Currently, AB-1482 properties can be increased by about 8% per year. Buyer should rely on their own due diligence. This 8-unit multifamily property was built in 1950 and sits on a very large 19,126 SqFt Lot (0.44 Acres). The 8 units are split equally into two separate 4-unit buildings with a driveway between them leading to the large parking and grass area in the back. All 8 units are 1 bed / 1 bath units of approximately 550 square feet each. Most units have been renovated since the current owner bought the property about 12 years ago. With that said, there's still ample upside available for a savvy investor looking to maximize this property's potential. Currently, these 1 bed units are bringing in an average rent of $1,945/month which is about 16% below full market rents in the area. Furthermore, this huge lot provides an investor the ideal property to build up to two additional ADUs at the back of the lot without having to sacrice much if any parking. There are 11 total parking spots with 8 covered spaces and ample room for more surface parking in the back of the large lot. The well maintained grass area in the back provides great scenery for the tenants, but as we mentioned before, would be the ideal place to build a couple ADUs on.
Full Property Details
Full Property Details for 40 N Brent St
General
- Sold For: $2,487,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 24-356807
- Added to Site: 100 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 8
Bedrooms
- Total Bedrooms: 8
Additional Information
- Other Features: None
Parking
- Covered Spaces: 8
- Garage Description: Carport
Location
- Area: California St. to Mills Rd
- County: Ventura
- Driving Directions: Brent & Telegraph
Heating & Cooling
- Cooling Type: Other
- Heating Type: Other
Structural Information
- # Buildings: 3
- Stories/Levels: 2
- Square Feet: 4,400
- Sq. Ft. Source: Assessor
- Year Built: 1950
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 8
- Unit Type: 2106
Unit 1
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.44
- Lot Size: 19126
- Lot Size Source: Assessor
- Zoning: POD
Financial Considerations
- Price Per Sq. Ft.: $590.91
- Assessment Year: 1950
Disclosures and Reports
- Disclosures/Reports: None
- APN: 077-0-023-140
Listed and Sold by Marcus & Millichap, Filip Niculete and Marcus & Millichap, Glen Scher
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Schools
Schools serving 40 N Brent St
School District:Ventura Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
300 Lynn Dr, Ventura, CA 93003 | K-5 | 0.6 mi | |
1426 E Santa Clara St, Ventura, CA 93001 | 6-8 | 1.4 mi | |
2 N Catalina St, Ventura, CA 93001 | 9-12 | 0.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 40 N Brent St
Date
Details
Price
Change
Source
2/29/2024
Sold
$2,487,000
-4.35%
MLS
2/09/2024
Listed
$2,600,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
40 N Brent St, Ventura, CA 93003 (MLS# 24-356807) is a Multi-Family property that was sold at $2,487,000 on February 29, 2024. Want to learn more about 40 N Brent St? Do you have questions about finding other Multi-Family real estate for sale in Ventura? You can browse all Ventura real estate or contact a Coldwell Banker agent to request more information.