CA > Oxnard
Oxnard, CA 93030,1315 Devonshire Drive
$5,395,000
Est. payment /mo
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1 Bed
2 Baths
0.34 Acres Lot
Active

1315 Devonshire Drive Oxnard, CA 93030

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Richard Combs

Richard Combs

+1(619) 838-9307

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID V1-27844

Bedrooms 1

HOA Y/N No

Lot Size 0.340 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

25-unit Oxnard apartment building for sale located on a corner lot near Fremont Square shopping center, several medical clinics and schools as well as bus lines. 1315 Devonshire DR is a 2-story courtyard style property featuring (12) 1BD units and (13) studios along with garage parking. Roof has recently been replaced. Other recent improvements include the installation of seismic shutoff valves on gas meters, 2 new commercial grade water heaters and upgraded cold water line plumbing pipes (pipes were sandblasted and injected with epoxy liner). Separately metered for electricity and gas. There is an onsite laundry room. Offered at less than $216k/unit and a 5.0% CAP rate, 12.0 GRM on in place rents with upside on rental rates. Seller prefers to carry back a loan at 6.0% interest only offering a major cash flow benefit to new Buyer. The garages offer ADU conversion potential.
25-unit Oxnard apartment building for sale located on a corner lot near Fremont Square shopping center, several medical clinics and schools as well as bus lines. 1315 Devonshire DR is a 2-story courtyard style property featuring (12) 1BD units and (13) studios along with garage parking. Roof has recently been replaced. Other recent improvements include the installation of seismic shutoff valves on gas meters, 2 new commercial grade water heaters and upgraded cold water line plumbing pipes (pipes were sandblasted and injected with epoxy liner). Separately metered for electricity and gas. There is an onsite laundry room. Offered at less than $216k/unit and a 5.0% CAP rate, 12.0 GRM on in place rents with upside on rental rates. Seller prefers to carry back a loan at 6.0% interest only offering a major cash flow benefit to new Buyer. The garages offer ADU conversion potential.

Location

State CA

County Ventura

Area Oxnard (93030)

Zoning Assessor

Building

Story 2

Others

Acceptable Financing Conventional

Space Rent $1,652

Listing Terms Conventional

San Diego Regional MLS (SDMLS)
Listed by Nicholas Henry • Beachside Partners

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agent

Richard Combs

Broker | License ID: 01526804

+1(619) 838-9307

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1315 Devonshire Drive

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