1315 DEVONSHIRE DRIVE, OXNARD CA 93030
- 14,810 sq.ft. lot
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 $209k/unit and a 5.2% CAP rate, 11.6 GRM with upside on rental rates. Seller willing to carry back a 50% LTV loan at 6.0% interest only offering a cash flow benefit to new Buyer. The garages offer ADU conversion potential.
Listing Courtesy of Nicholas Henry, Beachside Partners
Interior Features
Exterior Features
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