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Backup Offers

1881 Ocean Ave, Ventura, CA, 93001

$2,400,000

Home List Price

$10,000*

Closing Credit

0 Baths
House
Schools Nearby

Location

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1881 Ocean Ave, Ventura$2,400,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingGarage, Off Street
Garage7 spaces
Year Built1965
HeatingWall Furnace
CoolingNone
FireplaceNone
ViewNone
MLS #V1-22454
Lot Size0.33 Acres
StatusAccepting Backup Offers
(Active Under Contract)

About 1881 Ocean Ave

Just a bit over one mile away from the coastal water this multifamily property includes a two-story building that encompasses seven 800 square-foot two-bedroom, one-bathroom units. Built in 1965, the property provides its tenants with the privacy and security of one-car garages that are always coveted by tenant communities, and, for tenant convenience, there is a coin-operated washer-dryer room. With minimal low-maintenance decorative landscaping and a newly painted building, this property offers a handsome curb appeal.As a property that reflects under-market rents throughout, there remains a significant upside in rents and, therefore, value. In fact, there remains a 40% upside in that respect, and more when considering what upgraded units would fetch. As with all residential income properties (excluding those covered by more strict ordinances in certain municipalities throughout the state), annual rent increases are controlled by the limits stipulated in the statewide rent control commonly referred to as AB-1482 that went into effect January 1, 2020 and 'sunsets' January 1, 2030 - those annual rent caps defined as 'the lesser of 10% and 5% + CPI'.

Property Details

Property Features

Property Information:

  • Year Built: 1965

Listing Office:

  • Office Name: Apartment Investment Specialis
  • Office Email: craig@ais-realestate.com
  • Listing Agent: Craig Lieberman

Interior Features

Interior Information:

  • Fireplace: None

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: None

Parking Information:

  • Garage Space: 7 spaces
  • Parking: Garage, Off Street

Lot Features

Lot Information:

  • Lot Size: 0.33 Acres

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: None

Other

Directions Information:

  • Directions: Located near the corner of Ocean Avenue and S Santa Cruz Street.

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,400,000
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Housing Market Comparison

See how this home compares to others in Ventura, CA.

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Ventura, CA

City

Med. Sold Price

$850K

Med. Price/SqFt

$539

Avg. Days On Market

26

# of Sold Homes

63

1881 Ocean Ave vs Ventura

44 DAYS ON ROCKET

+18 Days

$2,400,000

+$1.5M More

KEY TAKEAWAY

This property is $1.5M more than the Median Sold Price in Ventura, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #V1-22454

Listing Office:

  • Office Name: Apartment Investment Specialis
  • Office Email: craig@ais-realestate.com
  • Listing Agent: Craig Lieberman

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/28/2024, 10:25:21 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$12K

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Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$7,262

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-2688850
4
/10

  • Will Rogers Elementary School

  • 316 Howard St

  • 0.62 miles

  • Public Magnet Grades KG-5

school-card-donut-2688851
4
/10

  • Lincoln Elementary School

  • 1107 E Santa Clara St

  • 0.73 miles

  • Public District Grades KG-5

school-card-donut-2688852
6
/10

  • Pierpont Elementary School

  • 1254 Marthas Vineyard Ct

  • 1.01 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $74,819. Most Ventura, CA residents have annual incomes between $35k-100k. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1881 Ocean Ave

What is the listing price of this property?

The listing price of 1881 Ocean Ave property is $2,400,000.

What type of property is this?

The property 1881 Ocean Ave is a house located in Ventura, California, 93001.

Is this property for sale now?

Accepting Backup Offers: 1881 Ocean Ave is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

Which year was this property built?

The year of construction for 1881 Ocean Ave is 1965.

Rocket Homes›California›Ventura County›Ventura›93001›1881 Ocean Ave

This home is located at 1881 Ocean Ave in Ventura, CA and zip code 93001 in the Midtown Ventura neighborhood. This home, which was built in 1965, sits on a 0.33 acre lot. It has been listed on Rocket Homes since March 15, 2024 and is currently priced at $2,400,000.

In March 2024 more than 29 listings in Ventura, CA were sold above the asking price. During the same period more than 13 listings were sold at asking price, while more than 21 were sold below. The inventory of homes for sale in Ventura, CA between February 2024 and March 2024 increased by 6%. Listings spent 26 days on the market in March 2024, and had a median list price of $850,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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