700 Ojai RD Santa Paula, CA 93060

New price of $1,950,000 which comes to 13.1 GRM, 4.35% CAP rate on actuals (11.0 GRM, 5.73% CAP on market rents) for this charming value-add building in Santa Paula. 700 Ojai Road is an 8-unit apartment building situated on a .88 acre lot with the potential for a new owner to both significantly increase the rental income as well as to potentially add units to the large R-2 zoned lot. Pleasant layout featuring a 1-story U-shaped building framed by 3-large trees and a spacious central grass courtyard. Ideal unit mix with (8) 2BD/1BA apartments and each has its own laundry hookups, water heaters and front and rear door access. Separate electric and gas meters. Carport parking. Located in upper Santa Paula in mostly single-family neighborhood close to Santa Paula Hospital, Mill Park and short drive away from downtown Main Street. The R-2 zoning allows for a maximum of 15 units per acre.