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Excellent opportunity to acquire a 32-unit well maintained Oxnard apartment building with ideal unit mix and major rental rate upside within 1 mile of Oxnard Community College. 2951 and 3011 Albany Drive includes (2) 2-story 16-unit apartment buildings w/ secure gated entry featuring (20) 2BD/1BA and (12) 1BD/1BA apartments set on just over 1 acre. Assigned Carport parking in rear and each building has its own onsite laundry room. Separately metered for gas and electricity. 2 Water Heaters. Roofs were recently replaced and exterior repainted. Very convenient location for tenants just off intersection of Channel Islands/Rose and Oxnard Boulevards with abundant shopping, medical clinics and Oxnard College nearby. Current rents more than 35% below market. Solid long term investment opportunity with room to bring rents up to market over time (subject to Oxnard 4% rent control). Offered at a 5.0% CAP rate on current rents and an appealing 7.9% CAP rate on market rents.
Property Type(s):
Residential Income
| Last Updated | 5/22/2025 | Tract | Oxnard: Other - 0034 |
|---|---|---|---|
| Year Built | 1974 | Community | Oxnard - Southeast |
| County | Ventura |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Range |
| AREA | Oxnard - Southeast |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| LOT | 1.01 acre(s) |
| LOT DESCRIPTION | Sprinklers None |
| POOL DESCRIPTION | None |
| STORIES | 2 |
| SUBDIVISION | Oxnard: Other - 0034 |
| VIEW DESCRIPTION | None |
Location
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Listed with Beachside Partners
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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