ABOUT THE ASSET

PROPERTY DESCRIPTION

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Bridge Investment Group is pleased to present the opportunity to acquire Sunset Terrace Apartments, a 12-unit building located in Ventura just 1 block from trendy shopping, restaurants, etc.

This 2-story walk-up building sits on partial slab foundation and partial raised podium over tuck-under parking. The roof is made up of 3 sections, the first is pitched composite shingle (replaced in 2013) and the other two sections are built-up tar and gravel (one section was replaced in 2004 and the other in 2011).

This serene space consists of eleven 1 bedroom/1 bathroom units & one 2 bedroom/2 bathroom unit totaling 6,663 square feet sitting  on a lot size of 10,000 square feet. The 2 bedroom/2 bathroom unit has been completely upgraded with new carpet, ceramic tile floors  in kitchen and bathrooms, all new stainless steel appliances, granite counter tops, and all new fixtures throughout. It also has a huge  balcony with ocean views. There is copper plumbing throughout. 8 of the units have open beam ceilings, 7 have balconies or patios, and  some have partial ocean views. The kitchens have gas stoves/ovens, formica counters or solid-surface counter tops and vinyl floors (several units have ceramic tile floors). Each unit has a gas wall heater and no

A/C. There is a common area laundry room with 2 Washers / 2 Dryers that Bondy Service Co. provides on a month-to-month basis. There are also individual storage lockers in the parking area for each tenant.

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$3,300,000

$275,000

$495.07

15.89

15.42

4.00%

4.17%

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12

1965

6,663

10,000

073-0-045-180

SUMMARY

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Price: 

Price/Unit:

Price/SF

Current GRM

Market GRM

Current Cap Rate

Market Cap Rate

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Units

Year Built

Building SF

Lot SF

APN

PROPERTY HIGHLIGHTS

• WALKING DISTANCE TO THE BEACH

• 1 BLOCK FROM TRENDY SHOPPING

• PARTIAL OCEAN VIEWS