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Contact Xavier Gomez
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Priced at Only: $2,095,000
For more Information Call Mobile: 714.478.6676
Address: Address Not Provided
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  • MLS#: V1-27264 ( )
  • Street Address: Address Not Provided
  • Viewed: 6
  • Price: $2,095,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1960
  • Bldg sqft: 0
  • Days On Market: 213
Description
Price just reduced $100k! 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. Offered at 12.5 x current in place rents.7.2% 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).
Description
Price just reduced $100k! 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. Offered at 12.5 x current in place rents.7.2% 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).
Features
Appliances
  1. Gas Oven
  2. Gas Water Heater
Association Fee
  1. 0.00
Building Area Total
  1. 6358.00
Common Walls
  1. No Common Walls
Cooling
  1. None
Days On Market
  1. 22
Electric Expense
  1. 0.00
Fencing
  1. None
Fireplace Features
  1. None
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 0.00
Laundry Features
  1. None
Lockboxtype
  1. Call Listing Office
Lot Features
  1. Sprinklers None
Netoperatingincome
  1. 0.00
Parcel Number
  1. 2020082110
Parking Features
  1. None
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Sourcesystemid
  1. 2024122620482710414500...
Sourcesystemkey
  1. 20241226204827104145000000:CRF
Spa Features
  1. None
Subdivision Name Other
  1. Henry T. Oxnard - 0320
Totalexpenses
  1. 0.00
Trash Expense
  1. 0.00
View
  1. None
Water Sewer Expense
  1. 0.00
Year Built
  1. 1960
Year Built Source
  1. Assessor

Contact Info

Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Mobile: 714.478.6676
  5. Fax: 714.975.9953
  6. salesbyxavier@gmail.com
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