Description
8-unit Oxnard apartment building in the historic district with approved plans to build (2) new ADUs. 12.5 GRM based on current in place rents. Upside in rental rates on existing units w/ potential to take baton from Seller to use city approved plans to build 2 additional studio units totaling 650 SF. Current Unit mix includes (1) 2BD/2BA, (2) 2BD/1BA and (5) 1BD/1BA units each with their own patio. 4 of the units have been recently remodeled. 7.2% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
School Information
Description
8-unit Oxnard apartment building in the historic district with approved plans to build (2) new ADUs. 12.5 GRM based on current in place rents. Upside in rental rates on existing units w/ potential to take baton from Seller to use city approved plans to build 2 additional studio units totaling 650 SF. Current Unit mix includes (1) 2BD/2BA, (2) 2BD/1BA and (5) 1BD/1BA units each with their own patio. 4 of the units have been recently remodeled. 7.2% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
© 2025 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2025-04-25T13:47:08.257. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2025-04-25T13:47:08.257.