| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 24th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 104 E Main St, Santa Paula, CA, 93060, US |
| Region / Metro | Santa Paula |
| Year of Construction | 1979 |
| Units | 50 |
| Transaction Date | 2010-04-05 |
| Transaction Price | $6,800,000 |
| Buyer | Robert Diamond |
| Seller | Santa Paula Townhomes, LLC |
104 E Main St, Santa Paula Multifamily Investment
Neighborhood occupancy is strong and historically sticky, supporting income stability for a 50‑unit asset, according to WDSuite’s CRE market data. Elevated ownership costs in Ventura County further sustain renter demand, with rent levels competitive for the submarket.
Located in Santa Paula’s Urban Core within the Oxnard–Thousand Oaks–Ventura metro, the neighborhood earns a B rating and sits above the metro median overall (rank 75 of 172 neighborhoods). Occupancy in the neighborhood is high and has edged up over the past five years, placing in the top quartile nationally and competitive among Oxnard–Thousand Oaks–Ventura neighborhoods (rank 21 of 172). For multifamily investors, this supports leasing durability and lower downtime risk.
Renter-occupied housing represents roughly half of units in the neighborhood, a renter concentration that ranks in the upper tier nationally (88th percentile). That depth of the tenant base, combined with a median contract rent that also sits in an upper national percentile, points to stable demand with room for disciplined revenue management rather than aggressive concessions.
Day-to-day convenience is a relative strength: grocery and pharmacy access score in the mid-90s nationally for density, and restaurant density is likewise high. Cafe density is limited, which slightly tempers lifestyle appeal, but the core retail essentials are close and consistent with workforce housing needs. Average school ratings are weaker (lower national percentile), which investors should consider when targeting family-oriented demand or planning resident services.
Home values in the neighborhood are elevated versus many U.S. locations (upper national percentile), and the value-to-income ratio sits near the high end nationally. In practice, a high-cost ownership market tends to reinforce reliance on multifamily housing, supporting lease retention and pricing power, while the rent-to-income profile is below national norms—constructive for renewal management. The asset’s 1979 vintage is newer than the neighborhood’s average construction year (1971), offering relative competitiveness versus older stock, though capital planning for aging systems and strategic renovations may still be warranted.
Within a 3‑mile radius, recent data show a slight population dip but stable to growing household counts ahead as average household size trends lower. This shift can expand the renter pool even if total population softens, supporting occupancy stability and absorption for well-managed communities. Income measures in the 3‑mile area have been rising and are projected to continue growing, which underpins rent collections and supports measured rent growth strategies.
Neighborhood-level crime metrics are not available in WDSuite for this location at this time. Investors typically benchmark safety conditions against Ventura County and Oxnard–Thousand Oaks–Ventura metro trends, monitor property‑level incident histories, and incorporate standard security measures into underwriting and operations.
Regional employers in biotechnology, medical devices, and insurance provide a diversified employment base within commuting range, reinforcing workforce renter demand for Santa Paula assets. Notable nearby firms include Amgen, Thermo Fisher Scientific, Boston Scientific Neuromodulation, Farmers Insurance Exchange, and AmerisourceBergen.
- Amgen — biotechnology (13.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (27.1 miles)
- Boston Scientific Neuromodulation — medical devices (29.0 miles)
- Farmers Insurance Exchange — insurance (29.2 miles) — HQ
- AmerisourceBergen — pharmaceutical distribution (29.4 miles)
104 E Main St offers scale at 50 units with a 1979 vintage that remains relatively competitive versus older neighborhood stock while still presenting classic value‑add levers through systems upgrades and targeted renovations. The surrounding neighborhood shows top‑quartile national occupancy with a rising five‑year trend and an above‑median standing within the Oxnard–Thousand Oaks–Ventura metro, supporting leasing stability and lower turnover downtime. Elevated home values in the area and an ownership market that skews high relative to incomes tend to sustain renter reliance on multifamily housing, while rent-to-income remains manageable for renewal strategies.
According to CRE market data from WDSuite, neighborhood rent levels and renter concentration rank in upper national percentiles, and daily‑needs amenities are strong (groceries, pharmacies, restaurants). Within a 3‑mile radius, households are projected to increase as average household size declines, which can expand the tenant base even if population growth moderates. Key risks to underwrite include softer school ratings, limited cafe density relative to national norms, and typical CapEx for late‑1970s construction.
- Occupancy strength in the top quartile nationally supports income stability
- Elevated ownership costs reinforce sustained multifamily renter demand
- 1979 vintage offers value‑add potential alongside competitive positioning
- Amenity access (groceries, pharmacies, restaurants) supports renter retention
- Risks: weaker school ratings, limited cafe density, and CapEx for aging systems