REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Kay Wilson-Bolton • eXp Realty of California Inc
$ 899,000
Est. payment /mo
Active
321 Walnut Street Santa Paula, CA 93060
2,281 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,281 sqft
Price per Sqft $394
Subdivision Historic District - 0516
MLS Listing ID V1-36040
Style Cottage
Year Built 1900
Lot Size 6,098 Sqft
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Income Producing Multi Unit Property in Santa Paula's Historic District
A rare opportunity to acquire a three-unit residential investment in one of Santa Paula's most stable and historically desirable neighborhoods.
This property offers diversified rental income, strong tenant demand, and multiple paths for value creation.
Investment Highlights
• Three total units across two structures
• Front house: 3 bedrooms, 1 bath -- ideal for a higher anchor rent or owner occupancy
• Rear duplex: Two 1 bed/1 bath units -- consistently in demand among singles, couples, and local workforce renters
• On site parking for first-come, first-served -- a premium amenity in the historic district
• Low vacancy location with long term tenant stability
• Multiple income streams on one parcel, reducing risk exposure
Operational Advantages
• Separate structures create privacy, reducing tenant friction and turnover
• Straightforward layouts that are easy to maintain
• Strong rental comps in the area for both 1 bed and 3 bed units
• Potential to increase rents, modernize interiors, or reposition the front house for premium returns
Market & Location Strength
• Situated in Santa Paula's historic district, known for charm, walkability, and steady rental demand
• Close to downtown amenities, employment centers, schools, and transit
• Area continues to see rising interest from investors seeking stable, supply constrained markets
Upside Potential
• Value add opportunities through cosmetic upgrades
• Potential for improved operating efficiency and stronger year over year cash flow
A rare opportunity to acquire a three-unit residential investment in one of Santa Paula's most stable and historically desirable neighborhoods.
This property offers diversified rental income, strong tenant demand, and multiple paths for value creation.
Investment Highlights
• Three total units across two structures
• Front house: 3 bedrooms, 1 bath -- ideal for a higher anchor rent or owner occupancy
• Rear duplex: Two 1 bed/1 bath units -- consistently in demand among singles, couples, and local workforce renters
• On site parking for first-come, first-served -- a premium amenity in the historic district
• Low vacancy location with long term tenant stability
• Multiple income streams on one parcel, reducing risk exposure
Operational Advantages
• Separate structures create privacy, reducing tenant friction and turnover
• Straightforward layouts that are easy to maintain
• Strong rental comps in the area for both 1 bed and 3 bed units
• Potential to increase rents, modernize interiors, or reposition the front house for premium returns
Market & Location Strength
• Situated in Santa Paula's historic district, known for charm, walkability, and steady rental demand
• Close to downtown amenities, employment centers, schools, and transit
• Area continues to see rising interest from investors seeking stable, supply constrained markets
Upside Potential
• Value add opportunities through cosmetic upgrades
• Potential for improved operating efficiency and stronger year over year cash flow
Location
State CA
County Ventura
Area Vc51 - Santa Paula Nw
Interior
Heating Wall Furnace
Flooring Tile, Vinyl
Fireplaces Type None
Inclusions None
Laundry Outside
Exterior
Parking Features Driveway
Pool None
Community Features Sidewalks
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected
View Y/N No
View None
Building
Lot Description Sprinklers None