Oxnard, California Colliers International is pleased to present this high cash-flow investment opportunity in Oxnard to apartment investors.
550 Cuesta Del Mar is...
Apartment Building - 12 Units Oxnard - High Cash Flow
Status: Price: Bldg. Size: Units: Cap Rate: Primary Type: Sub-Type:
Active $1,449,000 10,156 SF 12 8.15% Multifamily Garden/Low-Rise
Highlights
Cash-on-cash return: 14.87% with 32% down payment and loan assumption
Non rent-control, Great Unit Mix with historically low vacancy
Turn-key investment with knowledgeable on-site manager
Ease of access to the beach and other amenities - Great access to freeways
CLOSE PROXIMITY TO OXNARD AIRPORT, COLLEGES, GOLF COURSE, POINT MUGU NAVAL BASE AND CHANNEL ISLANDS HARBOR
Current loan terms: Assumable - 1% fee, Interest rates at 2.886% ARM, adjust every 12 months, Loan placed in September 2004
Description
Colliers International is pleased to present this high cash-flow investment opportunity in Oxnard to apartment investors.
550 Cuesta Del Mar is a 12-unit non-rent garden control low-rise apartment building in the City of Oxnard. This property has historical consisted of low vacancy which offers new owners an ease of management and turnkey investment opportunity. With an attractive offering of an actual 7.83% CAP and 8.82 GRM, investors will achieve close to 15% return (with loan assumption) on investment. The unit mix includes 2-(2+1) and 10-(2+2). The property is separately metered for electricity, provides one covered parking space per unit, a secured entrance, recently replaced water heaters, and a laundry room. Tenancy is comprised of mostly working families who work in the farming/industrial sectors of Oxnard. This property can be purchased with 500 Cuesta Del Mar as a portfolio package or individually.
The property is located in South Oxnard with ease of access to the beach, approximately ±1.2 miles from Port Hueneme Beach Park, ±2.5 miles from Channel Island Beach and harbor, and just minutes away to freeways 1 and 101. In addition, the investment provides easy access to other Oxnard amenities, including the Oxnard Airport, colleges, golf courses, Point Mugu Naval Base, and various beaches along the Oxnard coast.
