1940 Pelican Avenue, Ventura, California 93003, Ventura, 93003 - 4 bed, 2 bath
1940 Pelican Avenue
Ventura, California 93003
Property Price
SUMMARY
Analysis of 1940 Pelican Avenue, Ventura, California 93003 reveals a Prime Investment Opportunity with a current list price of $849,500—significantly undercutting the $902,773 Fair Market Value by 5%. This valuation gap indicates a +$53,273 Instant Equity potential for buyers. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Ventura Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1940 Pelican Avenue Subject | $849,500* List Price | 4 | 2 | 1,668 | $541 | - |
A 1877 Pelican Avenue Sold | $850,000 | 4 | 2 | 1,668 | $510 | 0.1 mi |
B 6324 Oriole Street Sold | $911,000 | 4 | 3 | 1,700 | $536 | 0.4 mi |
C 2363 Seagull Avenue Sold | $930,000 | 4 | 2 | 1,765 | $527 | 0.5 mi |
D 1497 Lark Ave Sold | $779,000 | 3 | 2 | 1,284 | $607 | 0.4 mi |
E 1323 Bluebird Avenue Sold | $810,000 | 4 | 2 | 1,435 | $564 | 0.5 mi |
F 2154 Grand Avenue Sold | $895,000 | 4 | 3 | 1,748 | $512 | 0.4 mi |
G 2470 Warbler Avenue Active | $950,000 List Price | 3 | 2 | 1,681 | $565 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is in move-in ready condition with significant recent capital improvements including a brand-new roof, fresh interior paint, and updated flooring throughout. The kitchen and bathrooms feature modern aesthetics with updated vanities and stainless steel appliances. While the structure dates to 1965, the combination of cosmetic refreshes and functional upgrades like the EV charger and newer water heater align with the 'Good' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Move-In Ready Condition
The home features significant recent capital improvements including a brand-new roof, fresh paint, updated flooring, and a new front-yard irrigation system, offering immediate occupancy with minimal initial maintenance.
- Modern Infrastructure
Equipped with a newer water heater and a dedicated EV charger in the garage, the property is well-prepared for modern energy needs and sustainable living.
- Desirable Coastal Location
Ideally situated near Montalvo Hill Park and just minutes from Ventura’s beaches, harbor, and downtown, providing residents with a quintessential coastal lifestyle and easy access to recreation.
CONSRISKS & DEFICIENCIES
- Vintage Construction
Built in 1965, the property may still possess some original infrastructure elements or architectural limitations common to mid-century homes that haven't been fully modernized beyond cosmetic updates.
- Variable School Ratings
While elementary school options are strong, the assigned middle school has a lower rating (4/10) and is located over 2.7 miles away, which may be a consideration for families with school-aged children.
About 1940 Pelican Avenue
One of the best move-in ready opportunities currently available in Ventura. Freshly updated and move-in ready, this bright Ventura home offers stylish comfort and thoughtful upgrades in a great neighborhood near Montalvo Hill Park. The light-filled interior features fresh paint, newer carpet, updated flooring, and a spacious living room with a classic fireplace. The kitchen includes clean cabinetry and appliances, and sliding doors opening to the backyard for easy indoor-outdoor living. Recent improvements include a brand-new roof, newer water heater, EV charger in the garage, and a new front-yard irrigation system with fresh grass for beautiful curb appeal. Ideally located just minutes from Montalvo Hill Park, Ventura beaches, downtown Ventura, and the harbor. Enjoy relaxed Ventura coastal living in this beautiful, centrally located home.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1965
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Ventura Unified Schools
Montalvo Elementary School
Grades K-5 • 0.3 mi
Portola Elementary School
Grades K-5 • 0.5 mi
Anacapa Middle School
Grades 6-8 • 2.7 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 54% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,668 | 1,685 | 49% |
| Lot Size | 6,098 | 6,969 | 38% |
| Price | $849.5K | $930.0K | 23% |
| Price per sq ft | $509 | $569 | 29% |
| Built year | 1965 | 1964 | 52% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 166 | 2% |
Pricing History
Listed for Sale
Mar 4, 2026
$849,500
Initial Listing