The LAAA Team of Marcus & Millichap is pleased to present this Ventura County 4-unit multifamily property located in the Bryce Canyon neighborhood of Oxnard, California.

This part of Oxnard is one of the most desirable areas in the city, with an impressive walk score of 81, which is meaningfully higher than the average 71 walk score in the city of Oxnard. The property is located within walking distance to Ralphs, Walmart, Starbucks, a bank, nearly a dozen restaurants, and 8 different bus lines. Furthermore, this is an ideal location for families with 12 different schools located within 1.0 miles from the property. These schools include (7) elementary schools, (2) junior high schools, and (3) high schools, all within walking distance.

This 4,152 sqft property sits on a 7,840 sqft (0.18 acre) corner lot, and it boasts an excellent unit mix of (2) 2 Bed / 2 Bath units and (2) 3 Bed / 1.5 Bath units. These very well kept units are large and spacious, with the average unit size being over 1,000 sqft. Additionally, the property offers its tenants ample parking and storage, which each unit getting two parking spaces and one storage space, and it has easy access to the parking in the alleyway behind the building.

The sellers have owned this property for more than 20 years and have taken pride in managing the property, always being quick to fix any issue that arises, which is why you will be hard pressed to find any significant deferred maintenance issues. Furthermore, in the past few years, the sellers have replaced the roof and re-paved the parking area, and all 4 units are very clean on the inside.

Although the sellers have maintained this property very well, they have not been ones to push rents to the limit, which allows a value-add buyer to take advantage of the nearly 40% upside potential in rents. With no local rent control laws in Oxnard (only subject to AB-1482), a savvy buyer will be able to realize this rental upside much quicker than you would be able to on a similar building in Los Angeles.

Lastly, since this property has 4 units, and is therefore classified as residential, a qualified buyer will be able to receive very attractive residential financing. Our residential loan broker, Arrie Reich, has given us the following incredible loan quote:

25% down payment
2.875% interest rate
7/1 arm (principal & interest)
Interest only financing is also available

For more information on this residential loan quote, please give us a call, and we would be happy to connect you with Arrie to learn more about your loan options