Oxnard Apartment Building Investment Opportunity

2951 Albany Drive, Oxnard, CA 93033

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For Sale

$7,700,000

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

Listing Contact

NICHOLAS HENRY

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.
Well‑Maintained Property: Includes recently replaced roofs and repainted exterior.
Convenient Location: Situated near Oxnard Community College, shopping, medical clinics, and major thoroughfares.
Secure and Functional: Includes secure gated entry, assigned carport parking, and onsite laundry rooms in each building.

For Sale

$7,700,000

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

Added:: Jun 9, 2025
Days on Market:: 368
Last Refresh:: Mar 16 at 9:09 am

Property Features for 2951 Albany Drive

General Information

Standard status: Active

Building Details

Year Built: 1974

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Listing Contact

NICHOLAS HENRY

Listing agent NICHOLAS HENRY

Listing office BEACHSIDE PARTNERS

Listing date Jun 9, 2025

Source Corcoran

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All listing content including descriptions, pricing, images are the copyrighted material of BEACHSIDE PARTNERS

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.
Well‑Maintained Property: Includes recently replaced roofs and repainted exterior.
Convenient Location: Situated near Oxnard Community College, shopping, medical clinics, and major thoroughfares.
Secure and Functional: Includes secure gated entry, assigned carport parking, and onsite laundry rooms in each building.

Overview

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.

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City: Oxnard
County: Ventura
State: California
Longitude: -119.168
Latitude: 34.172

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For sale
Apartment buildings
CA
Oxnard
93033
2951 Albany Drive

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.