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.
|
DAYS ON MARKET
|
75
|
LAST UPDATED
|
6/24/2025
|
|
TRACT
|
Oxnard: Other - 0034
|
YEAR BUILT
|
1974
|
|
COMMUNITY
|
VC34 - Oxnard - Southeast
|
COUNTY
|
Ventura
|
|
STATUS
|
Conditional
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
None |
| APPLIANCES |
Gas Range |
| AREA |
VC34 - Oxnard - Southeast |
| HEAT |
Wall Furnace |
| LOT |
1.01 acre(s) |
| POOL DESCRIPTION |
None |
| STORIES |
2 |
| SUBDIVISION |
Oxnard: Other - 0034 |
| VIEW DESCRIPTION |
None |
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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 8/4/25 3:16 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 2025.
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