220 S E St
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220 S E St
8 Unit Apartment Building $3,161,502 CAD ($395,188 CAD/Unit) Oxnard, CA 93030
Investment Highlights
- 8 Units in Historic District
- 4 Units remodeled
- Approved Plans for (2) studio ADUs
- 6.9% CAP on market rents for existing + rents on 2 new ADU units
Executive Summary
8-unit Oxnard apartment building located in the historic district with approved plans to build (2) new ADUs. Excellent investment opportunity to realize upside in rental rates on existing units along with taking baton from Seller to use city approved plans to build 2 additional studio units totaling 650 SF. Current Unit mix includes (1) 2BD/2BA, (2) 2BD/1BA and (5) 1BD/1BA units each with their own patio. Laundry room onsite, currently not in use, with new commercial grade water heater serving whole building. 4 of the units have been recently remodeled. Good downtown Oxnard location within walking distance to Plaza Park (home to farmers market and community events), Santa Clara Elementary School, Public Library, City Hall & Centennial Plaza – home to movie theaters, shops and restaurants.
6.8% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
6.8% CAP rate can be achieved by the astute investor on market rents and assumed new ADU rents (assumes $200k+/- to build (2) studio ADU units totaling 650 SF which are projected to rent for $1700 apiece).
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$242,129
|
$36.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$242,129
|
$36.08
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $242,129 |
| Annual Per SF | $36.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $242,129 |
| Annual Per SF | $36.08 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $3,161,502 CAD | Apartment Style | Low Rise |
| Price Per Unit | $395,188 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Gross Rent Multiplier | 13.1 | Building Size | 6,358 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.26/1,000 SF |
| Price | $3,161,502 CAD |
| Price Per Unit | $395,188 CAD |
| Sale Type | Investment |
| Gross Rent Multiplier | 13.1 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,358 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.26/1,000 SF |
Unit Amenities
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $7,542 CAD | - |
| 2+1 | 2 | $3,852 CAD | - |
| 2+2 | 1 | $2,472 CAD | - |
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Walk Score ®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 202-0-082-110 | Improvements Assessment | $1,624,055 CAD |
| Land Assessment | $902,383 CAD | Total Assessment | $2,526,437 CAD |
PROPERTY TAXES
Parcel Number
202-0-082-110
Land Assessment
$902,383 CAD
Improvements Assessment
$1,624,055 CAD
Total Assessment
$2,526,437 CAD
zoning
| Zoning Code | R3 (Multi-family) |
| R3 (Multi-family) |
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220 S E St
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