Multifamily Property with ADU
For Sale
Contact for pricing
1928 San Benito Street, Oxnard, CA 93033
Permitted main house, JADU, and ADU on large lot.
Property Size2,800 SF
Lot Size0.25 Acres
Price / SF$408.21
Days on Market293
Property Features for 1928 San Benito Street
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.25 Acres
Property subtype
Multifamily
Zoning
R-1
Listing Agency:
eXp Realty of California Inc
Listed By:
Yeny Estrada · License #01373052
Source:
Crexi
Added: Nov 9, 2025
Changed: Aug 8
Last Checked: Jul 21 at 4:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty of California Inc
Investment Insights
Based on property information with market context.
This multifamily property features a main house, a Junior Accessory Dwelling Unit (JADU), and an Accessory Dwelling Unit (ADU), all fully permitted and situated on a 10,890 sq ft lot in a cul-de-sac. The main house, built in 1928, offers approximately 1,400 sq ft of living space with 3 bedrooms and 2 bathrooms, along with a 2-car garage. The JADU, constructed in 2002, provides approximately 500 sq ft with 1 bedroom and 1 bathroom. The rear ADU, built in 2004, includes approximately 900 sq ft, featuring 2 bedrooms and 1 bathroom. Each residence includes a private gated patio or yard area. The property has mature citrus and avocado trees. The driveway is divided into three designated sections, providing two parking spaces per unit, plus the main home includes a 2-car garage. A wide gated side area offers potential for additional parking or secondary driveway access extending into the backyard to be used by the ADU. All units are tenant-occupied.
Key Highlights
- Fully permitted Main House + JADU + ADU on a large lot, offering significant rental income potential.
- High current rental income of $7,806/month with potential for increased revenue.
- Three separate residences (3 bed/2 bath, 1 bed/1 bath, and 2 bed/1 bath) each with private gated patio/yard.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,909
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,180
$898.2K
Cap Rate 7%
$641,557
$641.6K
Cap Rate 9%
$498,989
$499.0K
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$85.7K $30.60/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$81.7K $29.16/SF
− OpEx
−$36.7K −$13.12/SF
NOI
$44.9K $16.04/SF
Area
Oxnard, CA
Vacancy
4.70%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,180
Cap Rate 7%
$641,557
Cap Rate 9%
$498,989
Alternative Uses
Best Use
Apartment 5plus
$641.6K
$561.4K – $748.5K
NOI $44,909 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$913.8K
$799.6K – $1.07M
NOI $63,968 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 93033, CA
79,539
Population
17,523
Households
4.5
Avg Household Size
32
Median Age
11%
College-Educated
57%
High-School Grad
32.2 sq mi
ZIP Area
2,470
Density / Sq Mi
$85,848
Median Household Income
$32,675
Median Earnings
$1,810
Median Rent
$549,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Permitted main house, JADU, and ADU on large lot.
Where is this multifamily property located?
The property is located at 1928 San Benito Street Oxnard, CA.
What is the asking price?
The asking price for this property is $1,143,000.
What are key features of this property?
This property features: Fully permitted Main House + JADU + ADU on a large lot, offering significant rental income potential.; High current rental income of $7,806/month with potential for increased revenue.; Three separate residences (3 bed/2 bath, 1 bed/1 bath, and 2 bed/1 bath) each with private gated patio/yard.
