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601 Pearl Street

Ojai, CA 93023
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SqFt49,540

Sqft(Lot)

We are pleased to present 601 Pearl Street, a rare shovel-ready residential subdivision opportunity located in the heart of Downtown Ojai. Situated on approximately 1.14 acres, the offering consists of 10 recorded lots with approvals in place for the development of nine detached single-family homes. The project includes fully approved Architectural, Civil, Landscape, and Structural plan sets, allowing a developer to immediately pursue permits and commence construction. Offered at $3,700,000, the property is priced at approximately $73 per land square foot and $411,111 per buildable home, presenting a compelling basis for one of Southern California's most supply-constrained lifestyle markets. The approved development is designed as a California Craftsman-inspired cottage community featuring nine detached homes averaging approximately 1,835 square feet under roof. The fully entitled subdivision includes private drive access, two fire department turnarounds, and frontage along Pearl Street, Bald Street, and the Ojai Valley Trail. In addition to a build-for-sale strategy, the property also supports a compelling build-to-rent alternative, with projected stabilized NOI between approximately $605,000 and $632,000 annually. Located just steps from Downtown Ojai, the property benefits from one of California's most desirable and tightly controlled residential markets. The site is within walking distance to the Ojai Avenue Arcade, Libbey Park, the Ojai Valley Trail, restaurants, boutiques, and the city's renowned farmers market. Ojai's strict growth controls, affluent buyer demographic, and limited new housing inventory have sustained premium residential pricing throughout market cycles. Demand is further supported by the Ojai Valley Inn & Spa, a world-renowned 220-acre luxury resort that continues to attract second-home buyers and lifestyle-driven migration from Los Angeles, Santa Barbara, and the Bay Area. As one of the only entitled small-lot subdivisions of scale in Downtown Ojai, 601 Pearl Street presents a highly differentiated opportunity to deliver scarce new-construction product into an exceptionally supply-constrained market.

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Detail Ic Property Details

Property Type : Land

Price : $3,700,000

AD Id : 79434554

MLS Id : 26839863

Lot Size : 49,540 Sqft(Lot)

County : Ventura

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Feature Features

  • Bathroom Information

    Total Baths: 0 Full Baths: 0 Half Baths: 0

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 1.1373
  • Lot Size Source: Assessor Lot Size Square Feet: 49540

  • Listing Price Information

    Original List Price: 3,700,000 Listing Contract Date: 2026-05-01
  • Lease Information

    Listing Agreement: Seller Reserved

  • Tax Information

    Parcel Number: 0230141465

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: VC11 - Ojai Postal Code Plus 4: 3338 Directions: South of East Ojai Ave Source Property Type: Land Area: VC11 - Ojai
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1320 Mcandrew Road, Ojai, CA, 93023 $995,000 -- -- -- 27,442.80 Sqft(Lot)
1 Hendrickson Road, Ojai, CA, 93023 $795,000 -- -- -- 54,450 Sqft(Lot)
2250 Hermitage Road, Ojai, CA, 93023 $5,000,000 -- -- -- 1,748,062.80 Sqft(Lot)
E Ojai Avenue, Ojai, CA, 93023 $550,000 -- -- -- 38,768.40 Sqft(Lot)
7500 -1 Sulphur Mountai.., Ojai, CA, 93023 $1,850,000 -- -- -- 2,266,862 Sqft(Lot)
1797 Foothill Road, Ojai, CA, 93023 $429,000 -- -- -- 43,995 Sqft(Lot)
305 S Ventura Street, Ojai, CA, 93023 $1,800,000 -- -- -- 22,500 Sqft(Lot)
16825 Maricopa Highway, Ojai, CA, 93023 $2,995,000 -- -- -- 2,575,702.80 Sqft(Lot)
119 S Alvarado Street, Ojai, CA, 93023 $620,000 -- -- -- 8,125 Sqft(Lot)
Near Maricopa Hwy., Ojai, CA, 93023 $1,950,000 -- -- -- 2,134,440 Sqft(Lot)

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ByOwner last updated this listing 06/10/2026 @ 07:07

MLS: 26839863 LISTED BY: Filip Niculete, Marcus & Millichap 818-212-2700 SOURCE: CRMLS

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