2951 Albany Drive, Oxnard, CA 93033 - MLS#V1-30104

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 7,700,000

Est. payment | -/mo

3 Beds

2 Baths

1.01 Acres Lot

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$ 7,700,000

Est. payment | -/mo

Save

3 Beds

2 Baths

1.01 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID V1-30104

Bedrooms 3

HOA Y/N No

Lot Size 1.010 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

Excellent opportunity to acquire a 32-unit well maintained Oxnard apartment building with ideal unit mix and major rental rate upside within 1 mile of Oxnard Community College. 2951 and 3011 Albany Drive includes (2) 2-story 16-unit apartment buildings w/ secure gated entry featuring (20) 2BD/1BA and (12) 1BD/1BA apartments set on just over 1 acre. Assigned Carport parking in rear and each building has its own onsite laundry room. Separately metered for gas and electricity. 2 Water Heaters. Roofs were recently replaced and exterior repainted. Very convenient location for tenants just off intersection of Channel Islands/Rose and Oxnard Boulevards with abundant shopping, medical clinics and Oxnard College nearby. Current rents more than 35% below market. Solid long term investment opportunity with room to bring rents up to market over time (subject to Oxnard 4% rent control). Offered at a 5.0% CAP rate on current rents and an appealing 7.9% CAP rate on market rents.
Excellent opportunity to acquire a 32-unit well maintained Oxnard apartment building with ideal unit mix and major rental rate upside within 1 mile of Oxnard Community College. 2951 and 3011 Albany Drive includes (2) 2-story 16-unit apartment buildings w/ secure gated entry featuring (20) 2BD/1BA and (12) 1BD/1BA apartments set on just over 1 acre. Assigned Carport parking in rear and each building has its own onsite laundry room. Separately metered for gas and electricity. 2 Water Heaters. Roofs were recently replaced and exterior repainted. Very convenient location for tenants just off intersection of Channel Islands/Rose and Oxnard Boulevards with abundant shopping, medical clinics and Oxnard College nearby. Current rents more than 35% below market. Solid long term investment opportunity with room to bring rents up to market over time (subject to Oxnard 4% rent control). Offered at a 5.0% CAP rate on current rents and an appealing 7.9% CAP rate on market rents.

Location

State CA

County Ventura

Area Oxnard (93033)

Zoning Assessor

Building

Story 2

Lot Size Range 1+ to 2 AC

Others

Acceptable Financing Conventional

Space Rent $33,966

Listing Terms Conventional

Listed by Nicholas Henry • Beachside Partners

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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2951 Albany Drive Oxnard, CA 93033