1315 Devonshire Drive, Property Listing: MLS® #V1-27844

25-unit Oxnard apartment building for sale located on a corner lot near Fremont Square shopping center, several medical clinics and schools as well as bus lines. 1315 Devonshire DR is a 2-story courtyard style property featuring (12) 1BD units and (13) studios along with garage parking. Roof has recently been replaced. Other recent improvements include the installation of seismic shutoff valves on gas meters, 2 new commercial grade water heaters and upgraded cold water line plumbing pipes (pipes were sandblasted and injected with epoxy liner). Separately metered for electricity and gas. There is an onsite laundry room. Offered at less than $216k/unit and a 5.0% CAP rate, 12.0 GRM on in place rents with upside on rental rates. Seller prefers to carry back a loan at 6.0% interest only offering a major cash flow benefit to new Buyer. The garages offer ADU conversion potential.

1315 Devonshire Drive, Property Listing: MLS® #V1-27844 Close
Page Summary
  • 619-987-4851
NEW
  • MLS® #: V1-27844
  • 1315 Devonshire Drive
  • , CA 93030
  • $5,395,000
  • 0.34 Acres
  • Office: Beachside Partners

25-unit Oxnard apartment building for sale located on a corner lot near Fremont Square shopping center, several medical clinics and schools as well as bus lines. 1315 Devonshire DR is a 2-story courtyard style property featuring (12) 1BD units and (13) studios along with garage parking. Roof has recently been replaced. Other recent improvements include the installation of seismic shutoff valves on gas meters, 2 new commercial grade water heaters and upgraded cold water line plumbing pipes (pipes were sandblasted and injected with epoxy liner). Separately metered for electricity and gas. There is an onsite laundry room. Offered at less than $216k/unit and a 5.0% CAP rate, 12.0 GRM on in place rents with upside on rental rates. Seller prefers to carry back a loan at 6.0% interest only offering a major cash flow benefit to new Buyer. The garages offer ADU conversion potential.

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Essential Information

  • MLS® #V1-27844
  • Listing Price$5,395,000
  • Original Listing Price$5,395,000
  • Date ListedJanuary 29th, 2025
  • Days on Market1
  • Bathrooms0.00
  • Acres0.34
  • Lot Sq.Ft.14,810
  • TypeResidential Income
  • StatusACTIVE

Dues

  • HOA Dues$0

Community Information

  • Address1315 Devonshire Drive
  • AreaOXNARD (93030)
  • CountyVentura
  • StateCA
  • Zip Code93030

Amenities

  • PoolN/K

Interior

  • CoolingN/K
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Listing information last updated on April 3rd, 2025 at 8:09am PDT.