711 S C StreetOxnard, CA 93030
Ventura County
Description
711 S C St (Palm Terrace) | 22-Unit Affordable Multifamily, Oxnard. 2001-built asset totaling 23,954 SF on a 44,954 SF lot in Downtown Oxnard, a short walk from Heritage Square, Plaza Park, and the Oxnard Transit Center. The property features (10) 2BR/1BA units averaging 764 SF and (12) 3BR/2BA units averaging 1,025 SF, plus a separately leased daycare a second income stream with options through 2035. Twenty-one of 22 apartments are occupied, with about 14 years of average resident tenure reported by ownership, and rents are restricted under recorded TCAC, City of Oxnard, and CalHFA agreements at 30/40/50% AMI through 2055. Offered at $4,200,000 ($190,909/unit | $175.34/SF) with a 5.95% in-place cap rate, the real story is durability long-tenured, family-sized affordable housing with a 6.07% pro forma cap and no senior mortgage to assume.
Property Information
- Property type
- Residential Income
- Year built
- 2001
- Stories
- 2
- Living area
- 4,408 Sq Ft
- Lot size
- 1.03 acres
- Parking spaces
- 45
- Zoning
- CBD
- Days on market
- 30
- MLS® Listing#
- 26101952
Property Features
- Cooling
- None
- Heating
- None
Financial Details
- HOA
- None
- Parcel number
- 2020135025
Directions
On the corner of S C St and W 7th St
Listing Courtesy: Lyon Stahl Investment Real Estate, Inc. - 3104259838
Presented by: Taylor Avakian
Licensed in the state of California.
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