House for sale

14-unit apartment building + standalone commercial space near downtown Oxnard offered at 6.2% CAP / 10.7 GRM on current rents! This fully rented property includes a renovated 2-story 14-unit apartment building and a restaurant building. Originally built as a motel the apartment building totals 2, 792 SF and contains all studio efficiency units (one bathroom and one room) along with a common laundry room with two sets of washer/dryers. Commercial building totals 1, 305 SF and in past operated as a restaurant but current tenant operates as a prep kitchen that prepares meals for the agriculture contractors that provide immigrant field workers with daily meals. 18 uncovered parking spots. The apartment building has been completely updated over the past 5 years. This is a very efficient investment property offering some of the most affordable rents in the whole county. As such turnaround time is very short to rent out any apartment vacancies.