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$2,195,000
Est. payment /mo
5 Beds
4 Baths
6,969 Sqft Lot
UPDATED:
12/27/2024 07:49 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-27264
Bedrooms 5
HOA Y/N No
Lot Size 6,969 Sqft
Property Description
8-unit Oxnard apartment building located in the historic district with approved plans to build (2) new ADUs. Excellent investment opportunity to realize upside in rental rates on existing units along with taking baton from Seller to use city approved plans to build 2 additional studio units totaling 650 SF. Current Unit mix includes (1) 2BD/2BA, (2) 2BD/1BA and (5) 1BD/1BA units each with their own patio. Laundry room onsite, currently not in use, with new commercial grade water heater serving whole building. 4 of the units have been recently remodeled. Good downtown Oxnard location within walking distance to Plaza Park (home to farmers market and community events), Santa Clara Elementary School, Public Library, City Hall & Centennial Plaza - home to movie theaters, shops and restaurants.6.8% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
8-unit Oxnard apartment building located in the historic district with approved plans to build (2) new ADUs. Excellent investment opportunity to realize upside in rental rates on existing units along with taking baton from Seller to use city approved plans to build 2 additional studio units totaling 650 SF. Current Unit mix includes (1) 2BD/2BA, (2) 2BD/1BA and (5) 1BD/1BA units each with their own patio. Laundry room onsite, currently not in use, with new commercial grade water heater serving whole building. 4 of the units have been recently remodeled. Good downtown Oxnard location within walking distance to Plaza Park (home to farmers market and community events), Santa Clara Elementary School, Public Library, City Hall & Centennial Plaza - home to movie theaters, shops and restaurants.6.8% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
8-unit Oxnard apartment building located in the historic district with approved plans to build (2) new ADUs. Excellent investment opportunity to realize upside in rental rates on existing units along with taking baton from Seller to use city approved plans to build 2 additional studio units totaling 650 SF. Current Unit mix includes (1) 2BD/2BA, (2) 2BD/1BA and (5) 1BD/1BA units each with their own patio. Laundry room onsite, currently not in use, with new commercial grade water heater serving whole building. 4 of the units have been recently remodeled. Good downtown Oxnard location within walking distance to Plaza Park (home to farmers market and community events), Santa Clara Elementary School, Public Library, City Hall & Centennial Plaza - home to movie theaters, shops and restaurants.6.8% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
Location
State CA
County Ventura
Area Oxnard (93030)
Zoning Assessor
Building
Story 2
Lot Size Range 4000-7499 SF
Others
Acceptable Financing Conventional, Exchange
Space Rent $1,716
Listing Terms Conventional, Exchange
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Listed by Nicholas Henry • Beachside Partners
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