255 Sespe Ave, Fillmore, CA 93015

We are excited to present this investment opportunity to purchase a triplex in Fillmore, CA, located at 255 Sespe Ave. This triplex, being offered for sale for the first time in over 12 years, was built in 1968 and has been well maintained during the seller's ownership.The property offers three units, with a combined building size of 2,700 square feet, strategically situated on a 6,631 square foot lot (0.15 acres). The unit mix consists of two 2-bedroom, 1-bath units, each approximately 700 square feet, and one 3-bedroom, 1-bath unit, measuring around 900 square feet. The property also provides four dedicated parking spaces, accessible via the alley behind the building.This property offers an estimated 14% upside potential over current rents. Furthermore, Fillmore doesn't have any local rent control laws, adhering only to California's AB 1482. This allows for rent increases of 5% to 10% based on the CPI annually, making it feasible to achieve that 14% rent upside faster than in stricter rent-controlled areas.Fillmore is a flourishing city in Ventura County, characterized by its serene parks like the Veterans Memorial Park, convenient shopping centers, and diverse eateries. The city is in close proximity to major towns such as Oxnard, Simi Valley, Thousand Oaks, and Santa Paula. Especially relevant to potential investors is Fillmore's economic stability: the unemployment rate stands at 6.4%, with recent job growth indicating positive trends. The city has seen a 5.5% population growth since 2020 and boasts a housing market currently on the rise, evidenced by a 4.2% appreciation in home values over the last year.With its strategic location, potential for increased rental income, and the growth trajectory of Fillmore, this property represents a solid addition to any investor's portfolio.