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214 S Ojai Street, Santa Paula, California 93060, Santa Paula, 93060 - bed, bath

214 S Ojai Street, Santa Paula, California 93060 home-pic-0
ACTIVE$1,008,780
214 S Ojai Street, Santa Paula, California 93060
0Bed
0Bath
2,351Sqft
13,939Lot
Year Built
1948
Close
-
List price
$1.01M
Original List price
$989K
Price/Sqft
$429
HOA
-
Days on market
-
Sold On
-
MLS number
SR25149475
Home ConditionPoor
Features
Patio
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 52% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.01M(90th), sqft - 2351(88th), beds - undefined(3th), baths - undefined(3th).

Welcome to 214, 214½, and 215 S. Ojai Street in the charming city of Santa Paula — a rare and exceptional investment opportunity offering three detached single-family homes on one expansive lot of approximately 13,900 square feet. This unique property features a total of 7 bedrooms and 3 bathrooms across 2,351 square feet of combined living space, thoughtfully divided into two 2-bedroom/1-bath units and one 3-bedroom/1-bath unit. Each home is individually metered, with all utilities paid by the tenants, making this a highly efficient and low-maintenance income-producing asset. Currently occupied by great long-term tenants, the property provides immediate cash flow while offering tremendous future upside. Investors and developers alike will appreciate the major ADU and add-on potential, with enough space and zoning possibilities to allow for two additional Accessory Dwelling Units (ADUs) — perfect for expanding your rental portfolio or increasing overall property value. Set in a desirable and centrally located neighborhood, this property is close to schools, parks, shops, and local amenities, making it attractive to renters and buyers alike. Whether you're looking to expand your real estate portfolio, house-hack by living in one unit and renting the others, or explore development possibilities, 214, 214½, and 215 S. Ojai Street offers flexibility, growth potential, and strong rental demand all in one package. Don’t miss this exceptional opportunity in one of Ventura County’s most promising markets!

Condition Rating
Poor
The property was built in 1948, making it 76 years old. The listing description explicitly notes the 'Age of Property' as a weakness, stating that the homes are 'older and likely require significant capital investment for updates, renovations, or deferred maintenance to meet modern standards.' The exterior images show dated structures with visible wear and tear, old windows, and unkempt landscaping. Without interior photos, it can be inferred from the age and description that the kitchens, bathrooms, and major systems are significantly outdated and require substantial repairs and rehabilitation to meet current quality standards and comfort levels. While currently occupied, the property is far from move-in ready by modern expectations and aligns with the 'poor' condition criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13939, living area = 2351.
Multi-Unit Investment Opportunity: A rare offering of three detached single-family homes on one expansive lot, providing multiple income streams and diverse investment strategies.
ADU & Development Potential: Significant space and zoning possibilities to add two Accessory Dwelling Units (ADUs), offering substantial future upside and value appreciation.
Efficient Income Generation: Each home is individually metered with all utilities paid by tenants, ensuring a low-maintenance, efficient, and immediate cash-flowing asset from long-term occupants.
Large Lot Size: An expansive 13,900 square foot lot provides ample space for existing structures, potential ADU additions, and outdoor amenities.
Desirable Central Location: Situated in a centrally located neighborhood close to schools, parks, shops, and local amenities, enhancing its attractiveness to renters and future buyers.

Cons

Age of Property: Built in 1948, the homes are older and likely require significant capital investment for updates, renovations, or deferred maintenance to meet modern standards.
Valuation Discrepancy: The listing price is significantly higher than the estimated property value, suggesting potential overpricing or a need for a thorough market analysis to justify the asking price.
Unit Configuration/Bathroom Ratio: The combined 2,351 sqft across three units with only 7 bedrooms and 3 bathrooms implies smaller individual unit sizes and a low bathroom-to-bedroom ratio, which may limit appeal to certain tenant demographics or require upgrades.

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