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$ 5,395,000
Est. payment | /mo
0.34 Acres Lot
$ 5,395,000
Est. payment | /mo
0.34 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-27844
Originating Board California Regional MLS
Year Built 1964
Lot Size 0.340 Acres
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.
Location
State CA
County Ventura
Area Vc31 - Oxnard - Northwest
Rooms
Kitchen Refrigerator, Oven - Gas
Interior
Heating Wall Furnace
Cooling None
Laundry In Laundry Room
Exterior
Garage Spaces 25.0
Pool 31, None
View None
Others
Tax ID 2000151115
Special Listing Condition Not Applicable
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Listed by Nicholas Henry • Beachside Partners
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Tim Alford & Faye Bon
REALTOR® | Lic# 01507448 | 01746037