509 N Blanche Street, Ojai, California 93023, Ojai, 93023 - 2 bed, 3 bath
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Ojai, California 93023
This Triplex Residential Income property is a Strong Value Opportunity, listed at $1,695,000—positioned well below the $1,842,586 Fair Market Value by 8%. This valuation gap offers $147,586 in Instant Equity. Featuring a 2024/2026 Remodel and an Excellent Condition Rating, the property includes three distinct units with Mountain Views and Private Patios. Its prime location near downtown Ojai ensures high rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, income-generating asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 509 N Blanche Street Subject | $1,695,000* List Price | 2 | 3 | 1,467 | $1,256 | - |
A 509 N Blanche Street Active | $1,695,000 List Price | 0 | 0 | 1,137 | $1,491 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property was completely remodeled in 2024/2026, placing it well within the <5-year renovation window for an Excellent rating. The interiors feature modern wide-plank flooring, recessed lighting, updated kitchens with stone countertops, and contemporary cabinetry. The exterior is in mint condition with new pavers and fresh paint, requiring no immediate maintenance.
Situated just four blocks from downtown Ojai's shops and cafes, the property offers exceptional walkability and easy access to parks and hiking trails, maximizing its desirability for both owners and tenants.
The three separate cottages provide a rare opportunity for flexible use, including a primary residence with two rental units, a pure investment triplex, or a multi-generational living arrangement.
Extensively remodeled in 2024/2026, the cottages offer modern charm and immediate move-in readiness, significantly reducing the need for near-term maintenance or capital improvements.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5110, other record lot size in square feet = 4791. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1467, other record living area = 1137.
With a list price of $1,695,000 for a total of 1,467 square feet, the property carries a high price-per-square-foot premium that may impact the overall capitalization rate for investors.
The secondary units are quite small at 456 and 326 square feet, which may limit the tenant pool to individuals or couples and restrict long-term storage options for occupants.
Located just four blocks from downtown Ojai's shops and cafs, Three Oaks Cottages offers easy access to parks, hiking trails, the Ojai Valley Trail, and all that Ojai has to offer. Three separate cottages create a rare opportunity to live in one and rent the others, lease all three as an investment property, or share the property with extended family or friends.The approx. 1,137-square-foot main house features one bedroom, one bath, an open floor plan, and a private backyard with a patio and laundry hookups. The second unit is approx. 456 square feet with one bedroom, one bath, a kitchenette, and a sliding door to a private fenced backyard shaded by one of the property's three heritage oak trees. The third cottage is an approx. 326-square-foot studio with kitchen cabinetry, a spacious bathroom with storage, and a private backyard patio shaded by two oak trees.Remodeled in 2024/2026, the three cottages offer charm, flexibility, and income potential in a prime Ojai location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,467 | 2,761 |
| Lot Size | 5,110 | 23,086.5 |
| Price | $1.70M | $1.60M |
| Price per sq ft | $1.2K | $602 |
| Built year | 1947 | 1954 |
| HOA | $0 | $0 |
| Days on market | 40 | 51 |
Jun 12, 2026
$1,695,000
Initial Listing