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$5,395,000
Est. payment /mo
0.34 Acres Lot
UPDATED:
01/30/2025 12:09 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Oxnard: Other - 0031
MLS Listing ID V1-27844
HOA Y/N No
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
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Appliance Gas Oven, Refrigerator
Laundry Laundry Room
Exterior
Garage Spaces 25.0
Garage Description 25.0
Fence None
Pool None
Community Features Biking
View Y/N No
View None
Total Parking Spaces 25
Private Pool No
Building
Lot Description Sprinklers None
Story 2
Others
Senior Community No
Tax ID 2000151115
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Listed by Nicholas Henry • Beachside Partners
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