CA > Oxnard
Oxnard, CA 93033,2951 Albany Drive
Oxnard, CA 93033,2951 Albany Drive
Oxnard, CA 93033,2951 Albany Drive
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$7,700,000
Est. payment /mo
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3 Beds
2 Baths
1.01 Acres Lot
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2951 Albany Drive Oxnard, CA 93033

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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 V1-30104

Bedrooms 3

HOA Y/N No

Lot Size 1.010 Acres

Property Sub-Type Res Income 2-4 Units

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.
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

Area Oxnard (93033)

Zoning Assessor

Building

Story 2

Lot Size Range 1+ to 2 AC

Others

Acceptable Financing Conventional

Space Rent $33,966

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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2951 Albany Drive

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