We are proud to present 541 Cuesta Del Mar Dr, Oxnard, CA 93033 - a value add real estate opportunity located in a desirable beachside community. This multifamily property boasts 14 units with a mix of (10) 1-bedroom, 1-bath units and (4) 2-bedroom, 1-bath units. Constructed in 1962, the property spans 8,424 gross square feet, and is set on a 0.27-acre lot. The property has ample parking spots for the tenants with easy access to the parking through the alley behind the property. To enhance the quality of living for residents, the property features on-site laundry facilities, high-speed internet access, a smoke-free environment, replaces in units, and balconies. One of this property's signicant attractions is the great value-add potential. Current rents at the property are approximately 28% below the market rate, presenting a signicant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $25,000 in gross rental income each month, or about $300,000 per year, increasing the buyer's CAP rate to 7.83%! Please note that Oxnard has newly enacted rent control which limits rent increases to 4.0% each year, which the buyer should investigate and understand. Nestled in the vibrant South Winds community of Oxnard, the proximity to the coastline offers easy access to the breathtaking beaches and the Naval CBC Port Hueneme. Families will appreciate the central location of Art Haycox Elementary School, which is within short distance for South Winds' younger residents. Additionally, Green Junior High School and Hueneme High School are conveniently situated just a few blocks north. For those reliant on public transportation, the availability of bus stops along Perkins Road allows easy access to the broader Oxnard community. The Pleasant Valley Shopping Center, located near the northeast corner of South Winds, provides a hassle-free shopping experience for residents, eliminating the need to travel long distances for daily essentials. The presence of local taquerias, butcher shops, and bakeries further enriches the shopping options available to the community members.
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