1315 Devonshire Drive
Oxnard, CA 93030
0.34 acres | #V1-27844
Description
25-unit Oxnard apartment building for sale located on a corner lot near Fremont Square shopping center, several medical clinics and schools as well as bus lines. 1315 Devonshire DR is a 2-story courtyard style property featuring (12) 1BD units and (13) studios along with garage parking. Roof has recently been replaced. Other recent improvements include the installation of seismic shutoff valves on gas meters, 2 new commercial grade water heaters and upgraded cold water line plumbing pipes (pipes were sandblasted and injected with epoxy liner). Separately metered for electricity and gas. There is an onsite laundry room. Offered at less than $216k/unit and a 5.0% CAP rate, 12.0 GRM on in place rents with upside on rental rates. Seller prefers to carry back a loan at 6.0% interest only offering a major cash flow benefit to new Buyer. The garages offer ADU conversion potential.
Property Details
- SubdivisionOxnard: Other - 0031
- Property SubtypeResidentialIncome
- Lot DescriptionSprinklersNone
- Property TypeMulti-Family
- Original List Price$5,395,000
- MLS #V1-27844
- MLS #V1-27844
- CountyVentura
- Cost5395000
- Acres0.34
- Year Built1964
- Parking Spaces25
- Stories2
Location
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Nicholas Henry (#v199504560)
Listing Office: Beachside Partners (#V9025)
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