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$6,250,000
Est. payment /mo
4 Beds
1.14 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-32732
Bedrooms 4
Lot Size 1.140 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Excellent opportunity to acquire a 24-unit Oxnard apartment building set on over 1 acre of land with ideal unit mix and significantlong-term upside in rental rates. 161 W Juniper ST is composed of (24) 2BD/1BA units with 24 garages and ample street parkingat the end of a cul-de-sac in a primarily SFR neighborhood. Located Just off Saviers Rd tenants enjoy convenient access to thenearby Walmart anchored Centerpoint Mall and Island Plaza while being walking distance to Santa Clara High School andHarrington Elementary School. The site is separately metered for gas and electricity and has individual water heaters. There are(2) onsite laundry rooms and the 24 garage spaces present a prime opportunity for ADU conversion. Units 1-4 in building #165have been rebuilt from the studs including electrical, plumbing, HVAC, and roof due to a fire on the property in 2022. Rents havehistorically been increased on the 1st of each calendar year marking consistency in rental rates throughout the property. Withnearly 25% upside in rental rates this property provides solid long term investment opportunity at a 5.5% CAP rate on Jan 1,2026 rents and an appealing 7.5% CAP rate on market rents.
Location
State CA
County Ventura
Zoning Assessor
Direction off Saviers & Channel Islands BLVD
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 2030292250
Acceptable Financing Conventional
Listing Terms Conventional
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Listed by Nick Henry Beachside Partners