4797 Loma Vista Road, Ventura, California 93003, Ventura, 93003 - 3 bed, 2 bath
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Ventura, California 93003
This High-Potential Development Asset is listed at $1,339,000, with a $1,156,099 Fair Market Value. While the price is 15% above the automated estimate, the value is anchored in the Flexible R-3 Zoning and a massive 15,943 sqft Corner Lot. Holding a Condition Rating of 5, the interior requires a full-scale rehabilitation to transition from institutional to residential use. Located in the Ventura Unified district across from Ventura College, the site features a 17-car parking lot and immense multi-family redevelopment potential. This is a strategic play for Developers or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4797 Loma Vista Road Subject | $1,339,000* List Price | 3 | 2 | 3,230 | $358 | - |
A 4149 Foothill Road Sold | $1,175,000 | 4 | 3 | 2,596 | $453 | 0.6 mi |
B 287 Oberlin Avenue Sold | $1,350,000 | 4 | 3 | 2,767 | $488 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
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1970, this 54-year-old property, while described as 'well maintained' externally, features an interior that is severely outdated and configured for commercial/institutional use, not residential.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.
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.
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.
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.
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.
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.
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.
Make this a home or business, zoned R-3,Multi-family units OK, 3,230 Sf Freestanding well maintained Building, LARGE 15,943 sqft lot,17 car parking lot or make the ultimate backyard or tear down and build condos. Upscale location 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, commercial daycare, Group home,-assisted living Care, Education, Telecom Facility, Auto car Parking lot, Plants Nursery & more. Consult City Planning. Conditional use permit list or rezone to fit your needs.
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades 6-8 • 2.8 mi
Grades 9-12 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 3,230 | 1,710 | 95% |
| Lot Size | 15,943 | 6,969 | 95% |
| Price | $1.34M | $950.0K | 81% |
| Price per sq ft | $415 | $569 | 6% |
| Built year | 1970 | 1963 | 63% |
| HOA | $0 | $0 | 50% |
| Days on market | 553 | 182 | 0% |
Mar 18, 2026
$1,339,000
$1,385,000
-3% Price Drop
Initial Listing
Dec 14, 2025
$1,385,000
$1,485,000
-7% Price Drop
Initial Listing
Nov 14, 2025
$1,485,000
$1,398,000
+6% Price Increase
Initial Listing
Aug 6, 2025
$1,398,000
$1,435,000
-3% Price Drop
Initial Listing
Aug 1, 2025
$1,435,000
Initial Listing
Oct 16, 2024
$1,679,000
Initial Listing