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Listed by Nicholas Henry • Beachside Partners
$ 7,700,000
Est. payment /mo
Active
2951 Albany DR Oxnard, CA 93033
1 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-30104
Year Built 1974
Lot Size 1 Sqft
Source California Regional MLS
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
Rooms
Kitchen Oven Range - Gas
Interior
Heating Wall Furnace
Cooling None
Laundry In Laundry Room
Exterior
Garage Spaces 32.0
Pool 31, None
View None
Others
Tax ID 2210061185
Special Listing Condition Not Applicable
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