2951 Albany Drive, Property Listing: MLS® #V1-30104

Excellent opportunity to acquire a 32-unit well maintained Oxnard apartment building with ideal unit mix and major rental rate upside within 1 mile of Oxnard Community College. 2951 and 3011 Albany Drive includes (2) 2-story 16-unit apartment buildings w/ secure gated entry featuring (20) 2BD/1BA and (12) 1BD/1BA apartments set on just over 1 acre. Assigned Carport parking in rear and each building has its own onsite laundry room. Separately metered for gas and electricity. 2 Water Heaters. Roofs were recently replaced and exterior repainted. Very convenient location for tenants just off intersection of Channel Islands/Rose and Oxnard Boulevards with abundant shopping, medical clinics and Oxnard College nearby. Current rents more than 35% below market. Solid long term investment opportunity with room to bring rents up to market over time (subject to Oxnard 4% rent control). Offered at a 5.0% CAP rate on current rents and an appealing 7.9% CAP rate on market rents.

2951 Albany Drive, Property Listing: MLS® #V1-30104 Close
Page Summary
  • 619-987-4851
NEW
  • MLS® #: V1-30104
  • 2951 Albany Drive
  • , CA 93033
  • $7,700,000
  • 1.01 Acres
  • Office: Beachside Partners

Excellent opportunity to acquire a 32-unit well maintained Oxnard apartment building with ideal unit mix and major rental rate upside within 1 mile of Oxnard Community College. 2951 and 3011 Albany Drive includes (2) 2-story 16-unit apartment buildings w/ secure gated entry featuring (20) 2BD/1BA and (12) 1BD/1BA apartments set on just over 1 acre. Assigned Carport parking in rear and each building has its own onsite laundry room. Separately metered for gas and electricity. 2 Water Heaters. Roofs were recently replaced and exterior repainted. Very convenient location for tenants just off intersection of Channel Islands/Rose and Oxnard Boulevards with abundant shopping, medical clinics and Oxnard College nearby. Current rents more than 35% below market. Solid long term investment opportunity with room to bring rents up to market over time (subject to Oxnard 4% rent control). Offered at a 5.0% CAP rate on current rents and an appealing 7.9% CAP rate on market rents.

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Essential Information

  • MLS® #V1-30104
  • Listing Price$7,700,000
  • Original Listing Price$7,700,000
  • Date ListedMay 22nd, 2025
  • Bathrooms0.00
  • Acres1.01
  • Lot Sq.Ft.43,995
  • TypeResidential Income
  • StatusACTIVE

Dues

  • HOA Dues$0

Community Information

  • Address2951 Albany Drive
  • AreaOXNARD (93033)
  • CountyVentura
  • StateCA
  • Zip Code93033

Amenities

  • PoolN/K

Interior

  • CoolingN/K
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Listing information last updated on June 15th, 2025 at 5:23pm PDT.