6.2% CAP rate on current rents (only currently available multifamily property over a 6% cap on actuals in Ventura CO). Fully renovated two-story 14-unit apartment building along with a detached restaurant building set on 10,000 SF lot near 5 points in Oxnard. Originally built as a motel the apartment building totals 2,792SF and contains all studio efficiency units (one bathroom and one room) along with a common laundry room with two sets of washer/ dryers. The commercial building totals 1,305 SF and in past operated as a restaurant but current tenant operates as a prep kitchen that prepares meals for the agriculture contractors that provide immigrant field workers with daily meals. The restaurant building has a dining area, kitchen, food prep area, storage room and two restrooms along with floor drains. 18 uncovered parking spaces in rear. Front and rear electronic gates provide privacy and security to its residents. The apartment building has been completely updated over the past 5 years including new roof, fresh paint and fascia replacement, fumigation for pest treatment, new windows and doors, new main electrical panel and exterior LED lighting, new driveway and striping, new water heaters and various plumbing upgrades along with full remodel of interiors including new baths, flooring, lighting, electric heating units and kitchen counter and sink.
|
DAYS ON MARKET
|
80
|
LAST UPDATED
|
5/5/2024
|
|
TRACT
|
Not Applicable
|
YEAR BUILT
|
1952
|
|
COMMUNITY
|
Oxnard - Northwest
|
COUNTY
|
Ventura
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to May 5, '24
|
$2,350,000
|
| May 5, '24 - Today |
$2,295,000 |
| AIR |
None |
| AREA |
Oxnard - Northwest |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
On Site |
| HEAT |
Electric |
| HOA DUES |
0 |
| LOT |
10000 sq ft |
| LOT DESCRIPTION |
Sprinklers None |
| PARKING |
On Site |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| SUBDIVISION |
Not Applicable |
| VIEW DESCRIPTION |
None |
| WATER |
Public |
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Listed with Beachside Partners
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/17/24 12:16 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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