2951 Albany Dr Oxnard, CA 93033
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:
Corcoran
Listing 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
Location Insight
- Map
- Local Demand
- City
- Oxnard
- County
- Ventura
- State
- California
- Longitude
- -119.1676086
- Latitude
- 34.1719705
Nearby Similar for Sale
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.