Oxnard, CA 93033 2951 Albany Drive
$7,700,000
4 more
Presented By: Nicholas Henry with Beachside Partners;
Beds • 3
Baths • 2
SQFT • 29,492
Year Built • 1974
Home Details
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.
Presented By: Nicholas Henry with Beachside Partners;
Interior Features for 2951 Albany Drive
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesLaundryRoom
Total Stories2
General for 2951 Albany Drive
Additional Parcels Y/NNo
AppliancesGasRange
Attached Garage No
Carport Spaces32.0
Carport Y/NYes
CityOxnard
Community FeaturesBiking
CoolingNone
CountyVentura
Directionsoff Channel Islands, Rose and Oxnard Blvd intersection
Electric Expense0.0
Electric On Property Y/NNo
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income53901.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsConventional
Lot Size Square Feet43995.6
Lot Size UnitsAcres
MLS AreaVC34 - Oxnard - Southeast
MobileHomeRemainsYNNo
Net Operating Income0.0
New ConstructionNo
Number Of Units Total32
Operating Expense0.0
Pool FeaturesNone
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Subdivision NameOxnard: Other - 0034
Trash Expense0.0
ViewNone
Water Sewer Expense0.0
Year Built1974
Year Built SourceAssessor
Exterior for 2951 Albany Drive
Building Area Total29492.0
Crops Included Y/NNo
FencingNone
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSprinklersNone
Lot Size Acres1.01
Lot Size Area1.01
Number of Buildings2
Number of Separate Electric Meters34
Number of Separate Gas Meters34
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking32.0
WaterfrontY/NNo
Additional Details
Price History
