65 Wicks RD, Moorpark, CA 93021
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65 Wicks RD, Moorpark, CA 93021
65 Wicks RD, Moorpark, CA 93021
65 Wicks RD, Moorpark, CA 93021
65 Wicks RD, Moorpark, CA 93021
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Marsha Snyder

Marsha Snyder

+1(805) 402-0341
$ 2,400,000
Est. payment /mo
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Price Dropped by $100K

65 Wicks RD Moorpark, CA 93021

UPDATED:

Key Details

Property Type Commercial

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID V1-36213

HOA Y/N No

Year Built 1981

Property Sub-Type Duplex

Property Description

South View Ranch Cottages is a rare Moorpark income-property opportunity offering strong in-place cash flow, rental upside, and a strategic location near the heart of Downtown Moorpark. The property features a collection of Spanish-style bungalow cottages with numerous improvements completed by current ownership, including updates to many interiors, tile roofs, security cameras and motion lights, rain gutters, coin-operated laundry facilities, and a secure onsite rent collection area. The cottages can be maintained in their current affordable housing use or further enhanced into a more elevated boutique rental community.Current gross scheduled rents are approximately $16,500/month, with projected rent potential of approximately $19,000/month depending on future improvements, management strategy, and market conditions. At the asking price of $2,750,000, the property offers an estimated current cap rate of approximately 5.50%-5.63%, with a potential cap rate of approximately 6.59%-6.72%, subject to buyer verification.Set on a hilltop plateau, the property enjoys sweeping views across Moorpark and the surrounding mountains. The grounds are well maintained with weekly gardening service, mature pepper trees, avocado trees, open green areas, and a peaceful residential setting that feels distinct from a typical rental property.The location adds to the upside. South View Ranch Cottages is near Moorpark's historic High Street and Downtown corridor, where redevelopment, mixed-use investment, transit-oriented planning, and community improvements continue to strengthen the area. Nearby amenities include Moorpark College, Underwood Family Farms, local trails, restaurants, shopping, and access to the greater Los Angeles market.This is an attractive opportunity for an investor seeking stable income today with meaningful upside through improved management, continued upgrades, and long-term positioning within one of Ventura County's most desirable growth communities.Buyer to verify all rents, expenses, rent-control status, zoning, permits, legal use, cap rate, and future development or repositioning potential.

Location

State CA

County Ventura

Area Nmp - North Moorpark

Zoning RE1

Interior

Heating Wall Furnace

Cooling Electric, Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Carport Spaces 2

Fence Chain Link, Wrought Iron

Utilities Available Electricity Connected, Sewer Connected, Water Connected

Roof Type Clay,Tile

Present Use Improved,Investment,Multi-Family

Total Parking Spaces 15

Building

Lot Description Lot Over 40000 Sqft

Dwelling Type Duplex,House,Multi Family

Story 2

Water Public

Others

Tax ID 5120050030

Security Features Closed Circuit Camera(s),Carbon Monoxide Detector(s),Smoke Detector(s),Security Lights

Acceptable Financing Conventional, 1031 Exchange

Listing Terms Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Paul Ward Real Broker #01354001
Marsha Snyder

Marsha Snyder

License ID: 01829321

+1(805) 402-0341

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65 Wicks RD