Fillmore, CA 93015,255 Sespe AVE
Fillmore, CA 93015,255 Sespe AVE
Fillmore, CA 93015,255 Sespe AVE
Fillmore, CA 93015,255 Sespe AVE
Fillmore, CA 93015,255 Sespe AVE
Fillmore, CA 93015,255 Sespe AVE
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$845,000

$850,000

0.6%
Est.Price: ?

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Est. payment /mo

7 Beds

3 Baths

2,700 SqFt


SOLD DATE : 11/16/2023

Key Details

Sold Price $845,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,700 sqft

Price per Sqft $312

MLS Listing ID 23320953

Sold Date 11/16/23

Bedrooms 7

HOA Y/N No

Year Built 1968

Lot Size 6,629 Sqft

Property Description

We are excited to present this investment opportunity to purchase a triplex in Fillmore, CA, located at 255 Sespe Ave. This triplex, being offered for sale for the first time in over 12 years, was built in 1968 and has been well maintained during the seller's ownership.The property offers three units, with a combined building size of 2,700 square feet, strategically situated on a 6,631 square foot lot (0.15 acres). The unit mix consists of two 2-bedroom, 1-bath units, each approximately 700 square feet, and one 3-bedroom, 1-bath unit, measuring around 900 square feet. The property also provides four dedicated parking spaces, accessible via the alley behind the building.This property offers an estimated 14% upside potential over current rents. Furthermore, Fillmore doesn't have any local rent control laws, adhering only to California's AB 1482. This allows for rent increases of 5% to 10% based on the CPI annually, making it feasible to achieve that 14% rent upside faster than in stricter rent-controlled areas.Fillmore is a flourishing city in Ventura County, characterized by its serene parks like the Veterans Memorial Park, convenient shopping centers, and diverse eateries. The city is in close proximity to major towns such as Oxnard, Simi Valley, Thousand Oaks, and Santa Paula. Especially relevant to potential investors is Fillmore's economic stability: the unemployment rate stands at 6.4%, with recent job growth indicating positive trends. The city has seen a 5.5% population growth since 2020 and boasts a housing market currently on the rise, evidenced by a 4.2% appreciation in home values over the last year.With its strategic location, potential for increased rental income, and the growth trajectory of Fillmore, this property represents a solid addition to any investor's portfolio.

Location

State CA

County Ventura

Area Vc55 - Fillmore

Zoning R2

Interior

Fireplace No

Exterior

Garage Carport

Parking Type Carport

Total Parking Spaces 3

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 0530154080

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Filip Niculete • Marcus & Millichap
Bought with Ray Galvez • RE/MAX Gold Coast REALTORS
agent-avatar

michelle@michellehomesellingteam.com

515 S Myrtle Ave, Monrovia, CA, 91016, USA

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