220 S Palm Avenue, Santa Paula, California 93060, Santa Paula, 93060 - 6 bed, 6 bath
Loading property details...
Santa Paula, California 93060
This triplex presents a High-Potential Investment Opportunity with a List Price of $1,100,000—positioned above the $1,045,231 Fair Market Value. While priced slightly above market, the asset features individually metered gas and electric, significantly reducing operating overhead. With a Fair Condition Rating, the property offers immediate rental income from three 1,200 sqft townhomes, while the 6,534 sqft lot provides substantial ADU development potential. This is a stable, income-generating asset ideal for Buy-and-Hold Investors or Portfolio Expanders seeking long-term cash flow in Santa Paula.
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 | $290 | - |
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 (45 years old), the property exceeds the 20-year threshold for 'Fair' condition. While the listing describes the units as 'nicely maintained,' the age suggests dated kitchens, baths, and systems that likely require minor repairs or modernization to meet current market standards. No recent major renovations were cited to justify a higher rating.
The 6,534 sqft lot offers significant upside through the potential construction of an Accessory Dwelling Unit (ADU), providing a clear path to increase density and total rental yield.
Units are individually metered for gas and electricity, shifting these utility costs directly to the tenants and significantly reducing the owner's monthly operating overhead.
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 property is being sold in as-is condition, which may necessitate immediate capital expenditures for repairs or upgrades that the seller is unwilling to address.
The owner is responsible for the master-metered water bill, creating a variable monthly expense that can fluctuate based on tenant usage and impact net operating income.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 67% |
| Baths | 6.0 | 3.0 | 67% |
| Square foot | 3,608 | 3,418 | 67% |
| Lot Size | 6,534 | 6,534 | 50% |
| Price | $1.10M | $1.10M | 50% |
| Price per sq ft | $305 | $469 | 33% |
| Built year | 1979 | 1979 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 92 | 33% |
May 13, 2026
$1,100,000
Initial Listing
Mar 21, 1988
$170,000
Public Record