321 Walnut Street, Santa Paula, CA 93060

• 2,281 sqft

Property Description

Income Producing Multi Unit Property in Santa Paula's Historic DistrictA rare opportunity to acquire a three-unit residential investment in one of Santa Paula's most stable and historically desirable neighborhoods. This property offers diversified rental income, strong tenant demand, and multiple paths for value creation.Investment Highlights Three total units across two structures Front house: 3 bedrooms, 1 bath -- ideal for a higher anchor rent or owner occupancy Rear duplex: Two 1 bed/1 bath units -- consistently in demand among singles, couples, and local workforce renters On site parking for first-come, first-served -- a premium amenity in the historic district Low vacancy location with long term tenant stability Multiple income streams on one parcel, reducing risk exposureOperational Advantages Separate structures create privacy, reducing tenant friction and turnover Straightforward layouts that are easy to maintain Strong rental comps in the area for both 1 bed and 3 bed units Potential to increase rents, modernize interiors, or reposition the front house for premium returnsMarket & Location Strength Situated in Santa Paula's historic district, known for charm, walkability, and steady rental demand Close to downtown amenities, employment centers, schools, and transit Area continues to see rising interest from investors seeking stable, supply constrained marketsUpside Potential Value add opportunities through cosmetic upgrades Potential for improved operating efficiency and stronger year over year cash flow

Listing Status:

Active

Date Added:

April 28, 2026

Data Last Updated:

June 14, 2026 at 5:18PM

Listing Office:

eXp Realty of California Inc : (805) 340-5025

Listing Agent:

Kay Wilson-Bolton : (805) 340-5025

MLS ID:

V1-36040

Interior

• Appliances: Gas Range
• Laundry: Outside
• Flooring: TileVinyl
• A/C: None
• Heating: Wall Furnace
• Fireplace: None

Exterior

• General: None
• Style: Cottage
• Pool: None
• Parking: DrivewayParking spaces: 2

Construction

• Roofing: Composition
• General: StuccoRaisedSlab

Location

• Road/Access: City Street
• HOA Amenities: 0.0
• Originating MLS: CRMLS_CRF
• County: Ventura

Lot

• Zoning: 1000165105
• View: None
• Fencing: Chain Link

Utilities

• Utilities: Cable AvailableElectricity ConnectedNatural Gas Connected
• Water: Public

Financial

• Source: CRMLS_CRF
• Exclusions: All of tenants belongings