
Ojai, California 93023
Analysis of 506 E Oak Street, Ojai, California 93023 is currently available with a list price of $1,750,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Ojai Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1948, this property is over 75 years old and shows significant signs of age. While some rooms have newer laminate flooring, the kitchen features dated cabinetry and older appliances, and the bedrooms contain popcorn ceilings and worn carpet. The bathrooms and core systems appear to be 30-50 years old without recent major overhauls, and the listing description explicitly suggests the need to renovate or reimagine the units.
The property is situated within walking distance to Ojai’s vibrant downtown core, offering rare and immediate access to local shops, restaurants, and art galleries.
Set on an expansive half-acre lot and delivered vacant, this triplex offers a unique opportunity for developers or owner-users to renovate, expand, or create a multi-generational family compound.
The property features stunning views of the Topa Topa mountains and is characterized by a park-like atmosphere with mature oak trees, capturing the quintessential Ojai lifestyle.
Built in 1948, the existing structures likely require substantial modernization and capital improvements to meet contemporary luxury standards or maximize rental income.
With a list price of $1.75M, the combined cost of acquisition and necessary redevelopment may present a high financial barrier for investors seeking immediate returns.
Set on over half an acre in one of the most desirable neighborhoods in the beautiful Ojai Valley, this rare triplex opportunity offers endless potential in a truly exceptional setting. Surrounded by majestic Topa Topa mountain views, mature oak trees, and a peaceful park-like atmosphere, this unique property captures the essence of Ojai living while being just moments from the vibrant heart of downtown. Enjoy the convenience of walking distance to local shops, restaurants, coffee houses, art galleries, farmers markets, and everything that makes downtown Ojai so special.The property consists of three longtime rental units situated on an expansive oversized lot, creating an incredible opportunity for investors, developers, owner-users, or those seeking to create a private family compound or multi-generational retreat. All units will be delivered vacant upon transfer of ownership, allowing the next owner immediate flexibility to reimagine, renovate, expand, or design the property to fit their vision and lifestyle.Whether you're looking to preserve its charm as an income-producing investment property, create a custom estate compound, develop a luxury retreat, or capitalize on the highly sought-after Ojai market, the possibilities here are truly endless. Large parcels in this prime downtown location rarely become available, making this an extraordinary opportunity for those with vision.Don't miss your chance to own a one-of-a-kind property in the heart of Ojai -- opportunities like this do not come around often, and this one is expected to move quickly.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 1.5 | 50% |
| Baths | 0.0 | 1.5 | 50% |
| Square foot | 3,484 | 2,390 | 50% |
| Lot Size | 22,215 | 16,334.7 | 50% |
| Price | $1.75M | $1.30M | 50% |
| Price per sq ft | $502 | $583 | 50% |
| Built year | 1948 | 1951 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 111 | 50% |
May 8, 2026
$1,750,000
Initial Listing
May 2, 1995
$245,000
Public Record