Highlights

• Cash-on-cash return: 15.12% on a 25% down payment with loan assumption
• Non rent control with great unit mix and 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 to apartment investors.

500 Cuesta Del Mar is a 28-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 7.00% CAP and 9.11 GRM, investors will achieve more than 15% return (with loan assumption) on investment.The unit mix includes 16-(1+1), 4-(2+1) and 8-(2+2). The property is separately metered for electricity, provides one covered parking space per unit, a secured entrance, 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 550 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.