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Listed by Nicholas Henry • Beachside Partners
$5,395,000
Est. payment /mo
14,810 SqFt
Active
1315 Devonshire Drive Oxnard, CA 93030
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UPDATED:
01/30/2025 07:55 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 14,810 sqft
Price per Sqft $364
MLS Listing ID CRV1-27844
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1964
Lot Size 0.340 Acres
Property 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.
Location
State CA
County Ventura
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Laundry Room
Exterior
View None
Building
Lot Description Other
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