Property Description

14-unit apartment building + standalone commercial space near downtown Oxnard offered at 6.5% CAP / 10.0 GRM on current rents! This fully rented property includes a renovated 2-story 14-unit apartment building & a restaurant building. Originally built as a motel the apartment building totals 2,792 SF and contains all studio efficiency units (one bathroom and one room) along with a common laundry room with two sets of washer/dryers. Commercial building totals 1,305 SF and in past operated as a restaurant but current tenant operates as a prep kitchen that prepares meals for the agriculture contractors that provide field workers with daily meals. 18 uncovered parking spots. The apartment building has been completely updated over the past 6 years. This is a very efficient investment property offering some of the most affordable rents in the whole county. As such turnaround time is very short to rent out any apartment vacancies.

ESSENTIAL INFO

• Status: Active