9
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Listed by Nicholas Henry • Beachside Partners
$7,700,000
Est. payment /mo
29,492 SqFt
Active
2951 Albany Drive Oxnard, CA 93033
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 29,492 sqft
Price per Sqft $261
MLS Listing ID CRV1-30104
HOA Y/N No
Year Built 1974
Lot Size 1.010 Acres
Property Sub-Type Other
Source Datashare California Regional
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
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Laundry Room
Exterior
View None
Building
Lot Description Other
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