220 S Palm Avenue, Santa Paula, California 93060, Santa Paula, 93060 - 6 bed, 6 bath
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Santa Paula, California 93060
This Residential Income Triplex presents a High-Potential Investment Opportunity with a List Price of $1,100,000—positioned slightly above the $1,077,982 Fair Market Value. While the property requires minor cosmetic updates given its Fair Condition Rating, it offers significant value-add potential through ADU Development on the 6,534 sqft lot. With individually metered gas and electric and spacious 1,200 sqft townhome layouts, this asset is designed for stable cash flow. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a house-hack strategy.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 220 S Palm Avenue Subject | $1,100,000* List Price | 6 | 6 | 3,608 | $299 | - |
A 209 W Santa Barbara Street Pending | $1,050,000 List Price | 0 | 0 | 3,395 | $309 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1979, this 45-year-old triplex is described as 'nicely maintained' and qualifies for FHA/VA financing, indicating it is functional. However, images show dated elements such as older vinyl flooring, 1970s-style wood doors, and aged light fixtures. While there are some partial updates like stone countertops in the bathroom, the property overall exceeds the 20-year threshold for 'Fair' and requires cosmetic and minor system updates to be considered modern.
The 6,534 sqft lot provides a significant value-add opportunity for the construction of Accessory Dwelling Units (ADUs), allowing for increased density and higher total rental yield.
Units are individually metered for gas and electricity, ensuring tenants pay their own usage costs and significantly reducing the owner's monthly operating expenses.
Each unit features a generous 1,200 sqft townhome-style floor plan with 2 bedrooms, 1.5 baths, and private outdoor space, making them highly attractive to long-term tenants.
The water system is master-metered and paid by the owner, which creates an unpredictable monthly expense and limits the ability to pass-through total utility costs to tenants.
The property is being sold in as-is condition, which may imply deferred maintenance or require immediate capital investment for upgrades to maximize market rents.
FHA OR VA OK - -:- -Upside Upside Upside!!!-For Sale Or Trade. What do you have to trade? Don't miss this money-making opportunity to start you off as a landlord or just add 3 more units to your growing portfolio. We also have two other four-plex's for sale so you can purchase 3 units, 7 units, or 11 units. These are really nice units you will be proud to own and rent or live in one. What do you have to trade???????-Wonderfully designed and built townhomes tri-plex each 1,200+/- sf in a 3,608+/- sf building plus the 6,534+/- sf lot leaving the potential ADU build out. All 3 units are 2 bedrooms & 1.5 baths, designed for a quiet relaxing lifestyle, every rental has a patio, one has a backyard the length of the property, on this large lot with room for an ADU. How many ADUs I don't know. Added income with a laundry room. Gas & electric bills go directly to the tenant's units-based on separate electric and gas meters for each unit!!!, so the tenant has to pay for them. The water is master metered with the water bill being paid by the owner. You get 2 dedicated carport spaces for each unit. Also includes individual storage for each unit. -Very nice rental income. Property sold as-is and do not talk to the tenants. Each unit gets a small storage space. Nicely maintained units.-Don't miss this great opportunity. What do you have to trade?Wonderfully designed and built townhomes tri-plex each 1,200+/- sf in a 3,608+/- sf building plus the 6,534+/- sf lot leaving the potential ADU build out. All 3 units are 2 bedrooms & 1.5 baths, designed for a quiet relaxing lifestyle, every rental has a patio, one has a backyard the length of the property, on this large lot with room for an ADU. How many ADUs I don't know. Added income with a laundry room. Gas & electric bills go directly to the tenant's units-based on separate electric and gas meters for each unit!!!, so the tenant has to pay for them. The water is master metered with the water bill being paid by the owner. You get 2 dedicated carport spaces for each unit. Also includes individual storage for each unit. Very nice rental income. Property sold as-is and do not talk to the tenants. Each unit gets a small storage space. Nicely maintained units.Don't miss this great opportunity. What do you have to trade?-
No exterior & parking available.
Grades 9-12 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 0.0 |
| Baths | 6.0 | 0.0 |
| Square foot | 3,608 | 3,395 |
| Lot Size | 6,534 | 5,662 |
| Price | $1.10M | $1.20M |
| Price per sq ft | $305 | $441 |
| Built year | 1979 | 1964 |
| HOA | $0 | $0 |
| Days on market | 70 | 110 |
May 13, 2026
$1,100,000
Initial Listing
Mar 21, 1988
$170,000
Public Record