1315 Devonshire Drive, Oxnard, CA 93030
- $4,798,000
- List Price
- $4,798,000
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- V1-36716
- Year Built
- 1964
- Lot Size
- 14,810
- Acres
- 0.34
- Lot Location
- Sprinklers None
- Days on Market
- 58
- Property Type
- Multifamily
- Neighborhood
- Oxnard: Other - 0031
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. The 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). The site is separately metered for electricity and gas. There is an onsite laundry room and the garages offer ADU conversion potential. Offered at $191k/unit and a 6.2% CAP rate, 10.2 GRM this is a compelling opportunity to own in a strong rental market with additional upside potential in rental rates.
Additional Information
- Appliances
- Gas Range, Refrigerator
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Exterior Construction
- Concrete
- Roof
- Composition
- Garage Spaces Total
- 25
- Attached Structure
- Detached
- Number Of Units Total
- 25
- Gross Scheduled Income
- $467,640
- Operating Expense
- 156880
Listing courtesy of Listing Agent: Jason Liehr (jason@beachsidepartners.com) from Listing Office: Beachside Partners.
Mortgage Calculator
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