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42 E Thompson Blvd
Ventura, CA 93001
42-46 E. Thompson Road Ventura, CA 93001 · Multifamily Property For Sale
·
3 Units
Investment Highlights
- Three Separate APNs · Multiple Exits - Each of the three condominiums is held under its own APN (073-0-380-025, 035, 045)
- 2006 Construction · Not Rent Controlled - The 2006-vintage building is not subject to any form of local rent control
- Walk to Beach, Pier & Downtown - Steps from Surfers Point, the Ventura County Fairgrounds, San Buenaventura State Beach, and Ventura Pier & Promenade
- Built-In Condominium Equity - Offered at just $487 / SF as a whole asset, while comparable individual condo sales in Ventura 93001 average $674 / SF
- Embedded Rent Upside - In-place rents of $105,480 grow to $123,600 at market — a 17.2% increase — with loss-to-lease of roughly 17%
- Premium Unit Mix & Amenities - Two large 2+2 residences and one 3+2 — each with private garage, private patio, in-unit washer/dryer, dishwasher, etc
Executive Summary
True North CRE is pleased to present the exclusive opportunity to acquire 42-46 E Thompson Boulevard, a boutique three-unit condominium asset in the heart of Ventura's vibrant coastal community. The property presents a rare opportunity to own condo-quality product in one of California's most sought-after and supply-constrained coastal markets. Critically, each of the three condominiums is held under a separate APN, affording investors exceptional flexibility and multiple exit strategies — holding all three units for income, selling them off individually over time, or executing a phased disposition to maximize returns. Built in 2006, the property is not subject to any form of local rent control.
The property comprises two spacious 2-bedroom / 2-bath units (1,141 and 1,418 square feet) and one generous 3-bedroom / 2-bath unit (1,651 square feet), situated on a 2,130 square foot lot. Each residence has been thoughtfully appointed with a private garage and dedicated private patio, and all units come equipped with in-unit washer/dryers, dishwashers, stoves, and additional appliances. Tenants are responsible for electricity and gas, while ownership covers water, trash, and gardening. The 2006-vintage construction, paired with private outdoor space and garage parking for every unit, positions the asset as a premium offering relative to the area's older competing inventory.
The Ventura coastal market is defined by exceptionally high barriers to entry — limited developable land, stringent coastal development regulations, and constrained new supply — which together protect long-term asset values and sustain durable rental demand. Strategically positioned along the 101 Freeway corridor, the property places residents within convenient reach of major employment hubs, including the commercial centers of Oxnard and Camarillo to the south, the Conejo Valley's tech and biotech corridor anchored by Thousand Oaks, and the Greater Los Angeles market approximately 60 miles to the southeast.
The property comprises two spacious 2-bedroom / 2-bath units (1,141 and 1,418 square feet) and one generous 3-bedroom / 2-bath unit (1,651 square feet), situated on a 2,130 square foot lot. Each residence has been thoughtfully appointed with a private garage and dedicated private patio, and all units come equipped with in-unit washer/dryers, dishwashers, stoves, and additional appliances. Tenants are responsible for electricity and gas, while ownership covers water, trash, and gardening. The 2006-vintage construction, paired with private outdoor space and garage parking for every unit, positions the asset as a premium offering relative to the area's older competing inventory.
The Ventura coastal market is defined by exceptionally high barriers to entry — limited developable land, stringent coastal development regulations, and constrained new supply — which together protect long-term asset values and sustain durable rental demand. Strategically positioned along the 101 Freeway corridor, the property places residents within convenient reach of major employment hubs, including the commercial centers of Oxnard and Camarillo to the south, the Conejo Valley's tech and biotech corridor anchored by Thousand Oaks, and the Greater Los Angeles market approximately 60 miles to the southeast.
Property Facts
| Price Per Unit | $966,199 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.03 AC |
| Cap Rate | 3.17% | Building Size | 4,210 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2006 |
| Property Subtype | Apartment | Parking Ratio | 1.43/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | T4.3 | ||
| Price Per Unit | $966,199 CAD |
| Sale Type | Investment |
| Cap Rate | 3.17% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.03 AC |
| Building Size | 4,210 SF |
| No. Stories | 2 |
| Year Built | 2006 |
| Parking Ratio | 1.43/1,000 SF |
| Zoning | T4.3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Ceiling Fans
- Granite Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $4,097 CAD | 1,141 - 1,418 |
| 3+3 | 1 | $4,235 CAD | 1,651 |
Property Taxes
| Parcel Number | 073-0-380-035 | Improvements Assessment | $339,515 CAD |
| Land Assessment | $183,258 CAD | Total Assessment | $522,773 CAD |
Property Taxes
Parcel Number
073-0-380-035
Land Assessment
$183,258 CAD
Improvements Assessment
$339,515 CAD
Total Assessment
$522,773 CAD
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