6418 Hummingbird St
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6418 Hummingbird St
7 Unit Apartment Building $2,100,000 ($300,000/Unit) 4.59% Cap Rate Ventura, CA 93003
Investment Highlights
- Attractive 2-bedroom unit mix
- Updates include new floors, kitchen countertops, new bath fixtures
Executive Summary
Craig Lieberman and the Apartment Investment Specialists are proud to introduce their new listing located at 6418 Hummingbird Street, in the city of Ventura. This property is ideally located just of the Victoria Avenue commercial corridor, near to the Ralphs Shopping Center offering a plethora of grocery and restaurant services, as well as Walmart and Trader Joe’s, and benefits by its proximity to the I-101 freeway corridor and its easy north and south entry.
This property boasts a strong unit mix comprised of six two-bedroom, one-bathroom units and one two-bedroom, one-and-a-half bathroom unit. While the gross income of the property hovers around $150,000 annually, the unit rents vary, but the average is approximately $1,760 per month, leaving significant upside as legal rent increases are permitted. The financial metrics offered based on the asking pricing is a 13.9 GRM and a 4.6% cap rate.
Along with the property benefitting with copper plumbing throughout, the seller has consistently maintained and renovated this property throughout his over 10-year ownership period, Those updates include new floors, kitchen countertops, and new bathroom fixtures as needed throughout.
This property boasts a strong unit mix comprised of six two-bedroom, one-bathroom units and one two-bedroom, one-and-a-half bathroom unit. While the gross income of the property hovers around $150,000 annually, the unit rents vary, but the average is approximately $1,760 per month, leaving significant upside as legal rent increases are permitted. The financial metrics offered based on the asking pricing is a 13.9 GRM and a 4.6% cap rate.
Along with the property benefitting with copper plumbing throughout, the seller has consistently maintained and renovated this property throughout his over 10-year ownership period, Those updates include new floors, kitchen countertops, and new bathroom fixtures as needed throughout.
Property Facts
| Price | $2,100,000 | Apartment Style | Low Rise |
| Price Per Unit | $300,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.59% | Building Size | 5,298 SF |
| Gross Rent Multiplier | 13.9 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1973 |
| Property Type | Multifamily | Parking Ratio | 1.32/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,100,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 4.59% |
| Gross Rent Multiplier | 13.9 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 5,298 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.32/1,000 SF |
Unit Amenities
- Dishwasher
- Disposal
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
| 2+1.5 | 1 | - | - |
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Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 135-0-172-020 | Improvements Assessment | $966,169 |
| Land Assessment | $371,146 | Total Assessment | $1,337,315 |
PROPERTY TAXES
Parcel Number
135-0-172-020
Land Assessment
$371,146
Improvements Assessment
$966,169
Total Assessment
$1,337,315
zoning
| Zoning Code | R3 |
| R3 |
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6418 Hummingbird St
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