228 S 4th Street, Santa Paula, California 93060, Santa Paula, 93060 - 2 bed, 4 bath
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Santa Paula, California 93060
This High-Potential Investment Opportunity is a Residential Income Quadruplex listed at $950,000, positioned slightly above the $933,066 Fair Market Value. While the property requires capital for deferred maintenance given its Fair Condition Rating, it features a Favorable Utility Structure with separate gas and electric meters. The 6,969 sqft lot offers significant ADU Build-Out Potential, providing a clear path to increased density. This asset is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking to optimize rental income in Santa Paula.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 228 S 4th Street Subject | $950,000* List Price | 2 | 4 | 1,924 | $485 | - |
A 435 S Palm Avenue Active | $725,000 List Price | 4 | 2 | 1,312 | $553 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1927 (97 years old) and sold 'as-is.' While the exterior shows evidence of maintenance and updated vinyl windows, the lack of documented recent major renovations suggests that kitchens, baths, and systems are likely dated (>20 years) and will require minor repairs or modernization.
The property features separate gas and electric meters for each unit, allowing tenants to pay their own usage costs and significantly reducing the owner's operational expenses.
The 6,969 sqft lot size and existing layout provide a prime opportunity for an Accessory Dwelling Unit (ADU) build-out, offering a clear path to increased density and rental revenue.
With four detached garages and additional off-street parking, the property offers a rare amenity for multi-family units that enhances tenant retention and provides potential for additional storage income.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 4.
The water is master-metered and paid by the owner, which exposes the landlord to fluctuating utility costs and limits the ability to pass through usage expenses to tenants.
Built in 1927 and sold in as-is condition, the property likely requires significant capital reserves for deferred maintenance and upgrades to its century-old systems.
FHA OR VA OK - -:- -Upside Upside Upside!!!--For Sale Or Trade. What do you have to trade? Don't miss this money-making opportunity Four-Plex to start you off as a landlord or just add 4 more units to your growing portfolio. We also have another four-plex and tri-plex for sale so you can purchase 4 units, or 7 units, or 8 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 nicely maintained, well-built four units 6969+/- sf lot leaving the potential ADU build out. Two duplexes on one lot. Four detached garages. All 4 units are designed for a quiet relaxing lifestyle. How many ADUs I don't know. 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. Lots of parking spaces for each unit. Very nice rental income. Property sold as-is and do not talk to the tenants. Nicely maintained units. Refer to private remarks for rental income stream.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 | 2.0 | 4.0 | 33% |
| Baths | 4.0 | 3.0 | 67% |
| Square foot | 1,924 | 1,924 | 50% |
| Lot Size | 6,969 | 6,969 | 50% |
| Price | $950.0K | $950.0K | 50% |
| Price per sq ft | $494 | $494 | 50% |
| Built year | 1927 | 1929 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 92 | 33% |
May 13, 2026
$950,000
Initial Listing