Oxnard | 18 Units | 1031 Exchange Buyer
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The LAAA Team of Marcus & Millichap is pleased to announce the successful sale of 1200 North H Street, a rare 18 unit investment opportunity located in the center of Oxnard, CA in Ventura County.
Property Description
1200 North H Street offers a unique opportunity to acquire a prime 18 unit asset in a high barrier to entry Ventura County location. The 14,695 square feet building sits on a large 15,147 square foot lot (0.35 acres), and is made up of (9) 1 bed / 1 bath, (2 bed / 1 bath), and (4) 2 bed / 1.5 bath units. The property includes ample parking that is accessible from side and rear alleys.
Deal Story
We listed this property in the mid-June 2021 at $4,500,000. By the end of June, less than 2 weeks after we signed the listing agreement, we were able to generate multiple offers through our unmatched marketing platform and database of multifamily owners and multifamily brokers. The seller decided to give a multiple, non-binding counter offer to the top two buyers on the table at $4.45M, with a 10 day due diligence period and a 60 day close of escrow. Also, because the seller was considering doing a 1031 exchange, we added in (2) 30-day options for the seller to extend the close of escrow in case the seller needed more time for his exchange property search.
The LAAA Team of Marcus & Millichap is pleased to announce the successful sale of 1200 North H Street, a rare 18 unit investment opportunity located in the center of Oxnard, CA in Ventura County.
Property Description
1200 North H Street offers a unique opportunity to acquire a prime 18 unit asset in a high barrier to entry Ventura County location. The 14,695 square feet building sits on a large 15,147 square foot lot (0.35 acres), and is made up of (9) 1 bed / 1 bath, (2 bed / 1 bath), and (4) 2 bed / 1.5 bath units. The property includes ample parking that is accessible from side and rear alleys.
Deal Story
