| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 65th | Good |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1381 E Santa Clara St, Ventura, CA, 93001, US |
| Region / Metro | Ventura |
| Year of Construction | 1972 |
| Units | 65 |
| Transaction Date | 1998-05-27 |
| Transaction Price | $2,600,000 |
| Buyer | PINCHAEL ABE |
| Seller | GILMAN |
1381 E Santa Clara St Ventura Multifamily Opportunity
Positioned in an amenity-rich Ventura enclave with strong renter depth and high ownership costs that support multifamily demand, according to WDSuite’s CRE market data. The area’s convenience and lifestyle appeal create stable leasing tailwinds, with operational upside for well-executed value-add.
The property sits in an Inner Suburb location of the Oxnard–Thousand Oaks–Ventura metro that ranks in the top quartile among 172 metro neighborhoods (A-rated). Amenity access is a clear strength: restaurants and grocery options are dense by national standards, and park access ranks near the top of peer neighborhoods nationally, supporting everyday convenience and quality of life that matter for leasing and retention.
Neighborhood housing dynamics show elevated ownership costs relative to local incomes, which tends to sustain reliance on rental housing and can support pricing power when operations are well managed. Within a 3-mile radius, renter-occupied housing accounts for just over half of units, indicating a broad tenant base for multifamily. Median school ratings are moderate, aligning with a workforce-oriented renter profile.
The average construction year locally skews older (1960s), and this asset’s 1972 vintage positions it slightly newer than much of the surrounding stock. That can be a competitive edge versus pre-1965 product while still warranting targeted capital planning for systems, interiors, and common areas to meet current renter expectations.
3-mile demographics indicate a stable adult population mix and a projected increase in households by 2028, expanding the renter pool and supporting occupancy stability over the medium term. While neighborhood occupancy is currently below the metro median, the combination of dense amenities and a sizable renter base suggests room for operational improvements at the asset level.
Relative to the Oxnard–Thousand Oaks–Ventura metro, this neighborhood falls below average on safety metrics and sits in a lower national percentile compared with neighborhoods nationwide. Recent year-over-year data also reflect increases in both property and violent incidents. For investors, this calls for pragmatic risk management: strong lighting and access controls, resident screening, and coordination with local resources can help support retention and day-to-day operations.
Compared with 172 neighborhoods in the metro, the area is not among the stronger performers on safety. Investors typically underwrite slightly higher operating costs for security and may lean on community engagement and visible property standards to maintain leasing momentum.
The area draws from a diversified professional employment base, with commutable access to biotechnology, aerospace, life sciences, insurance, and medical devices employers that help support renter demand and retention.
- Amgen — biotechnology (21.5 miles) — HQ
- Lockheed Martin Corporation — aerospace & defense (35.1 miles)
- Thermo Fisher Scientific — life sciences (37.6 miles)
- Farmers Insurance Exchange — insurance (39.3 miles) — HQ
- Boston Scientific Neuromodulation — medical devices (41.6 miles)
This 65-unit, 1972-vintage asset offers a value-add angle in a high-amenity Ventura neighborhood where elevated ownership costs reinforce multifamily demand. The property is slightly newer than much of the local stock, creating a platform for targeted renovations that can improve competitive positioning against older product while addressing aging systems. Within a 3-mile radius, a broad renter base and projected growth in households point to an expanding tenant pool and support for occupancy stability.
Operationally, investors should weigh neighborhood occupancy that trails the metro and manage to affordability pressure with disciplined lease management. According to CRE market data from WDSuite, dense amenities and strong regional employers underpin renter demand, while thoughtful capital planning can unlock rent and retention gains over time.
- Value-add potential on a 1972 asset to modernize interiors/systems and enhance curb appeal
- High-amenity location with strong food, grocery, and park access supporting leasing and retention
- Broad renter base within 3 miles and projected household growth expanding the tenant pool
- Elevated home values in Ventura sustain reliance on rentals and can support pricing power
- Risks: below-metro safety metrics, neighborhood occupancy softness, and rent-to-income pressures require active management