4797 Loma Vista Road, Ventura, California 93003, Ventura, 93003 - 3 bed, 2 bath
ACTIVE$1,385,000
4797 Loma Vista Road, Ventura, California 93003
3Beds
2Baths
3,230Sqft
15,943Lot
Price Vs. Estimate
The estimated value ($1,333,295.595) is $51,704.405 (3%) lower than the list price ($1,385,000). This property may be overpriced.
Key pros and cons
Top 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 = 15943, living area = 3230.
Top Cons:
History of Price Reductions: Multiple price drops from the original $1.679M to the current $1.385M may indicate initial overpricing or market resistance, potentially affecting perceived value or future resale.
Compared to the nearby listings
Price:$1.39M vs avg $983.0K (+$402,000)83%
Size:3,230 sqft vs avg 1,684.5 sqft96%
Price/sqft:$429 vs avg $6046%
More Insights
Built in 1970 (55 years old).
Condition: Built in 1970, this 54-year-old property, while described as 'well maintained' externally, features an interior that is severely outdated and configured for commercial/institutional use, not residential. The kitchen is very basic and dated, and the bathrooms are commercial-style, requiring complete demolition and renovation for residential living. The commercial-grade carpeting and fluorescent lighting throughout are also unsuitable for a modern home. Despite the structural integrity, the property requires substantial rehabilitation and a full interior overhaul to meet current residential standards, making it very uncomfortable to live in its current state as a home.
Year Built
1970
Close
-
List price
$1.39M
Original List price
$1.68M
Price/Sqft
$429
HOA
-
Days on market
-
Sold On
-
MLS number
TR24211600
Home ConditionPoor
Features
View-
About this home
Zoned R-3,add Multi-family units, 3,230 Sf Freestanding well maintained Building (see other uses bellow),LARGE 15,943 sqft lot,17 car parking lot or make the ultimate backyard,Across from Ventura College.3 miles to beach.Corner lot.Three rooms ,two restrooms,Kitchen,storage room.Central A/C systems.ALLOWED USE: SFR,Multi-Family,Some commercial,childcare,Group home,-assisted living Care,Education,Telecom Facility,Auto car Parking lot,Plants Nursery & more.Consult City Planning.Conditional use permit for businesses listed or rezone to fit your needs.(Zoning allows for large Multifamily also).
Nearby schools
7/10
Loma Vista Elementary School
Public,•K-5•1.1mi
6/10
Cabrillo Middle School
Public,•6-8•2.8mi
6/10
Ventura High School
Public,•9-12•2.2mi
Condition Rating
Poor
Built in 1970, this 54-year-old property, while described as 'well maintained' externally, features an interior that is severely outdated and configured for commercial/institutional use, not residential. The kitchen is very basic and dated, and the bathrooms are commercial-style, requiring complete demolition and renovation for residential living. The commercial-grade carpeting and fluorescent lighting throughout are also unsuitable for a modern home. Despite the structural integrity, the property requires substantial rehabilitation and a full interior overhaul to meet current residential standards, making it very uncomfortable to live in its current state as a home.
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 = 15943, living area = 3230.
Flexible R-3 Zoning & Diverse Use Potential: The R-3 zoning allows for multi-family development and a wide range of permitted uses including commercial, childcare, and assisted living, offering exceptional investment versatility.
Strategic Location: Positioned directly across from Ventura College and just 3 miles from the beach, providing high visibility, convenient access to amenities, and strong potential for various tenant bases or business operations. The corner lot further enhances its appeal.
Generous Lot Size & Ample Parking: A substantial 15,943 sqft corner lot with a dedicated 17-car parking area provides significant space for expansion, redevelopment, or enhanced outdoor functionality.
Well-Maintained Existing Structure: The 3,230 sqft freestanding building is described as well-maintained and includes central A/C, offering a solid and comfortable foundation for immediate occupancy or as part of a larger development plan.
High Redevelopment/Investment Potential: The combination of flexible zoning, a large lot, and a prime location makes this property an ideal candidate for significant redevelopment, offering substantial long-term value appreciation.
Cons
History of Price Reductions: Multiple price drops from the original $1.679M to the current $1.385M may indicate initial overpricing or market resistance, potentially affecting perceived value or future resale.
Building Age: Constructed in 1970, the 54-year-old building, despite being well-maintained, may require ongoing capital expenditures for systems or aesthetic updates to remain competitive or to facilitate a change of use.
Absence of Scenic Views: The property lacks specific scenic views (e.g., ocean, mountain), which could be a missed value-add opportunity in a desirable coastal market like Ventura.