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    432 E Clara Street

    Port Hueneme, CA 93041
    • $1,650,000
    • STATUS: Active Under Contract
    • ON SITE: 26 days
    • ID#: SR20179188
    Under Contract
    $1,650,000
    • 0
      BEDS
    • 0.46
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,326
      SQFT
    • $261
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1941
    County:

    School Ratings & Info

    Description

    An amazing opportunity to own 11 single story units in Port Hueneme, less than a Mile to the Port Hueneme Beach Park in a great neighborhood. Surrounded by newer buildings around. (8) units 1+1, (2) units 2+1 and (1) unit 3+1. 6,326 sq ft building on a 20,000 sq ft lot accommodates new building projects conforming to the neighborhood with great potential and high average family income. 6 Units on the East side with 2 attached garage and 5 units and the utility room on the West side of the property. Each unit has its own separate electric and gas meters. Covered parking spots for 11 cars including two attached garages for two units and several parking spaces for guest. This property is well suited for a huge upside potential. The best value is to build a new building and continue earning the rental income until the plans are approved. Units have deferred maintenance and rents are under market. Current CAP rate is 4.94% and the GRM is 11.78. Current scheduled rental income is $144,600 annual and current annual expense is $49,110. Due to poor management at this time there is no laundry income and one unit is not paying since February and is in litigation. Proforma rent is $13,750/mo with this amount likely to increase greatly in the months and years ahead, as inventory of available housing remains very low. Please do not approach to units, due to COVID. Drive by only. Showing with accepted offer.

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    Based on information from CRISNet MLS as of 2020-09-28T23:56:04.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-09-28T23:56:04.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/109620709
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    432 E Clara Street Port Hueneme, CA 93041

    • Price: $1,650,000
    • Status: Active Under Contract
    • ID#: SR20179188
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.46
    Acres
    6,326
    SQFT
    $261
    $/SQFT
    1941
    Built
    Neighborhood:
    Hueneme Bay 4 (148804)
    County:
    Ventura
    Area:
    Phue - Port Hueneme
    Property Description
    An amazing opportunity to own 11 single story units in Port Hueneme, less than a Mile to the Port Hueneme Beach Park in a great neighborhood. Surrounded by newer buildings around. (8) units 1+1, (2) units 2+1 and (1) unit 3+1. 6,326 sq ft building on a 20,000 sq ft lot accommodates new building projects conforming to the neighborhood with great potential and high average family income. 6 Units on the East side with 2 attached garage and 5 units and the utility room on the West side of the property. Each unit has its own separate electric and gas meters. Covered parking spots for 11 cars including two attached garages for two units and several parking spaces for guest. This property is well suited for a huge upside potential. The best value is to build a new building and continue earning the rental income until the plans are approved. Units have deferred maintenance and rents are under market. Current CAP rate is 4.94% and the GRM is 11.78. Current scheduled rental income is $144,600 annual and current annual expense is $49,110. Due to poor management at this time there is no laundry income and one unit is not paying since February and is in litigation. Proforma rent is $13,750/mo with this amount likely to increase greatly in the months and years ahead, as inventory of available housing remains very low. Please do not approach to units, due to COVID. Drive by only. Showing with accepted offer.
    Exterior Features

    Entry Level 1 Levels One Lot Features Front YardLot 20000-39999 SqftRectangular LotLevelYard Lot Size Area 20000.0000 Parking Total 11.00

    Interior Features

    Common Walls 2+ Common Walls Laundry Features Common AreaOutside Laundry YN Yes

    Property Features

    Additional Parcels YN No Community Features BikingCurbsWatersportsStreet Lights Electric Expense 1000.00 Fuel Expense 0.00 Gross Income 0.00 Gross Multiplier 11.76 Gross Operating Income 140262.00 Gross Scheduled Income 144600.00 Gross Spendable Income 140262.00 Insurance Expense 6126.00 Land Lease YN No Maintenance Expense 6565.00 Net Operating Income 72082.00 New Construction YN No New Taxes Expense 20625.00 Number Of Separate Electric Meters 11 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 0 Number Of Units Leased 11 Operating Expense 68180.00 Pool Features None Pool Private YN No Professional Management Expense 6666.00 Property Attached YN Yes Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Hueneme Bay 4 (148804) Total Expenses 58569.00 Trash Expense 456.00 Water Sewer Expense 15000.00 Water Source Public Zoning R3

    Listing provided courtesy of Nader Naderi, CA DRE# 01096047, of Berkshire Hathaway Homeservices California Properties.


    Based on information from CRISNet MLS as of 2020-09-28T23:56:04.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-09-28T23:56:04.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355