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    2951 Albany Dr Oxnard, CA 93033

    For Sale
    $7,700,000

    32-unit apartment building near Oxnard College with rental upside.

    Property Features for 2951 Albany Dr

    General Information

    Standard status
    Active

    Building Details

    Year built
    1974

    Source: BEACHSIDE PARTNERS Agent NICHOLAS HENRY

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Oxnard Apartment Building Investment Opportunity

    This well-maintained 32-unit apartment building in Oxnard presents an investment opportunity. Located within one mile of Oxnard Community College, the property at 2951 and 3011 Albany Drive comprises two 2-story, 16-unit buildings with a secure gated entry. The unit mix includes twenty 2-bedroom, 1-bathroom apartments and twelve 1-bedroom, 1-bathroom apartments, situated on just over 1 acre. Each building features its own on-site laundry room. The property includes assigned carport parking in the rear. The buildings are separately metered for gas and electricity and have two water heaters. The roofs were recently replaced, and the exterior has been repainted. The location is convenient for tenants, situated just off the intersection of Channel Islands/Rose and Oxnard Boulevards, with shopping, medical clinics, and Oxnard College nearby. The current rents are more than 35% below market value. The property is subject to Oxnard's 4% rent control.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oxnard
    County
    Ventura
    State
    California
    Longitude
    -119.1676086
    Latitude
    34.1719705

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    FAQs

    What type of property is this?
    Apartment building - 32-unit apartment building near Oxnard College with rental upside.
    Where is this apartment building located?
    The property is located at 2951 Albany Dr Oxnard, CA.
    What is the asking price?
    The asking price for this property is $7,700,000.
    What are key features of this property?
    This property features: - Significant Rental Upside: Current rents are 35% below market, offering substantial potential for increased income.; - High Cap Rate Potential: Offered at a 5.0% CAP rate on current rents, with an appealing 7.9% CAP rate achievable at market rents.; - Ideal Unit Mix: Features a desirable mix of (20) 2BD/1BA and (12) 1BD/1BA apartments.
    Request Owner's contact information
    2951 Albany Dr Oxnard, CA 93033
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    Oxnard, CA 93033
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2951 Albany Dr Oxnard, CA 93033
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