321 Walnut St, Santa Paula, CA, 93060
About This Home
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
Getting Around
Very Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Property condition: Fixer,Repairs Cosmetic
- Year built: 1900
Materials
- Foundation: Raised,Slab
- Roof: Composition
- Construction materials: Stucco
Type & Style
- Home type: MultiFamily
- Architectural style: Cottage
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Gas Range
- Laundry features: Outside
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 2
Features
- Flooring: Tile,Vinyl
- Fireplace features: None
- Common walls with other units/homes: 1 Common Wall
Heating & Cooling
- Heating features: Wall Furnace
- Cooling features: None
Interior Area
- Total structure area: 2,281
- Total interior livable area: 2,281 sqft
Property
Details
- Parcel number: 1000165105
- Attached to another structure: Yes
- Special condition: Trust
- Exclusions: All of tenants belongings
Features
- Pool features: None
- Spa features: None
- Fencing: Chain Link
- Has view: Yes
- View description: None
Lot
- Lot size: 6,098 sqft
- Features: Sprinklers None
Parking
- Total spaces: 2
- Parking features: Driveway
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Wildfire
- Drought
- Heat Wave
- Landslide
How This Home’s Risks Compare
FEMA Declared Disasters in Ventura County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,545 | $54,540 |
| Home Insurance * | $159 | $1,908 |
| Property Taxes | $881 | $10,572 |
| Electricity | $489 | $5,869 |
| Total | $6,074 | $72,888 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-28 | Listed for sale | $899,000 |
| 2025-10-15 | Listing removed | $990,000 |
| 2025-06-25 | Listed for sale | $1,080,000 |
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