$1,050,000
$1,075,000
2.3%For more information regarding the value of a property, please contact us for a free consultation.
3,533 SqFt
SOLD DATE : 12/23/2022
Key Details
Sold Price $1,050,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,533 sqft
Price per Sqft $297
Subdivision ,Port Hueneme
MLS Listing ID SR22125455
Sold Date 12/23/22
HOA Y/N No
Year Built 1963
Lot Size 6,028 Sqft
Acres 0.1384
Property Description
We are proud to present, The Wynema, located at 861 Jane Drive. The Wynema is a multifamily investment property located in the beachside community of Port Hueneme, California. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add asset with significant rental upside potential.
The apartment building is comprised of 5 spacious units in one two-story building totaling ±3,533 building square feet. The building construction is of wood frame with flat roof and painted stucco exterior. The property is situated on a ±6,029 square foot lot zoned R2 and development of the property was completed in 1963.
The building is accessible in the front of the property off of Jane Drive and offers residence (6) covered carport parking spaces located at the rear of the property, which equates to 1.2 spaces per unit.
The unit mix is comprised of:
+ (4) 1 Bedroom + 1 Bath units
+ (1) 2 Bedrooms + 1.5 Bath
The emerging beach community of Port Hueneme in Ventura County is known for its pristine beaches, great weather and outdoor aquatic activities such as surfing, boating and fishing.
Located just 60 miles from Downtown Los Angeles, Port Hueneme is becoming a preferred destination for families and individuals looking to leave a busy city lifestyle and and relocate to an affordable beach community which is adjacent to both the Cities of Oxnard and Ventura.
Port Hueneme in Ventura County is primarily a single-family housing market, with additional competition for apartment demand coming from mobile home parks.
After a run of strong demand beginning in 2020 and lasting into 2021, the vacancy rate is trending at 3.2% compared to the longer-term average of 3.9%. It is trending near the record low that was reached in 2021. Meanwhile, rental growth has accelerated, up 11.3% year over year. While still historically high, rent growth has moderated from the all-time high in 2021.
Property Highlights:
+ Rental upside potential
+ AB 1482: 5% + CPI rental increases
+ Excellent financing available with attractive leverage and rate
+ Diverse unit mix of (4) 1 bedroom + 1 bath and (1) 2 bedroom + 1.5 bath units
+ Located on a quiet residential street just minutes from the beach
+ Value-add opportunity with immediate upside potential
+ Located in a Tier 2 Transit Oriented Community (TOC)
Location
State CA
County Ventura
Area Vc32 - Oxnard - Port Hueneme Beaches
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Garage Carport, Detached Carport, One Space
Carport Spaces 6
Pool None
Community Features Biking, Curbs, Park, Street Lights, Sidewalks, Urban
Parking Type Carport, Detached Carport, One Space
Total Parking Spaces 6
Private Pool No
Building
Lot Description Rectangular Lot, Yard
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2070311165
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Financing Conventional
Special Listing Condition Standard
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Bought with Raymond Rodriguez • Keller Williams Realty Calabasas
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner