Oxnard Apartment Building Investment
For Sale
$7,700,000
2951 Albany Drive, Oxnard, CA 93033
32-unit apartment building near Oxnard College with rental upside.
Property SizeContact for details
Days on Market425
Property Features for 2951 Albany Drive
General Information
Standard status
Active
Building Details
Year Built
1974
Listing Agency:
BEACHSIDE PARTNERS
Listed By:
NICHOLAS HENRY
Source:
Corcoran
Added: Jun 9, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 BEACHSIDE PARTNERS
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
800
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
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Frequently Asked Questions
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 Drive 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.
