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$ 7,700,000
Est. payment | /mo
1.01 Acres Lot
$ 7,700,000
Est. payment | /mo
1.01 Acres Lot
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Oxnard: Other - 0034
MLS Listing ID V1-30104
HOA Y/N No
Year Built 1974
Lot Size 1.010 Acres
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.
Location
State CA
County Ventura
Area Vc34 - Oxnard - Southeast
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry Laundry Room
Exterior
Carport Spaces 32
Fence None
Pool None
Community Features Biking
View Y/N No
View None
Total Parking Spaces 32
Private Pool No
Building
Lot Description Sprinklers None
Story 2
Others
Senior Community No
Tax ID 2210061185
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Nicholas Henry Beachside Partners
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Heiner And Natalia Escobar
REALTORS® | Lic# 01758326 | 01751260