633 Meta Street Oxnard, CA 93030

1 / 13

View all 13 Photos

Map

6.2% CAP rate on current rents (only currently available multifamily property over a 6% cap on actuals in Ventura CO). Fully renovated two-story 14-unit apartment building along with a detached restaurant building set on 10,000 SF lot near 5 points in Oxnard. Originally built as a motel the apartment building totals 2,792SF and contains all studio efficiency units (one bathroom and one room) along with a common laundry room with two sets of washer/ dryers. The commercial building totals 1,305 SF and in past operated as a restaurant but current tenant operates as a prep kitchen that prepares meals for the agriculture contractors that provide immigrant field workers with daily meals. The restaurant building has a dining area, kitchen, food prep area, storage room and two restrooms along with floor drains. 18 uncovered parking spaces in rear. Front and rear electronic gates provide privacy and security to its residents. The apartment building has been completely updated over the past 5 years including new roof, fresh paint and fascia replacement, fumigation for pest treatment, new windows and doors, new main electrical panel and exterior LED lighting, new driveway and striping, new water heaters and various plumbing upgrades along with full remodel of interiors including new baths, flooring, lighting, electric heating units and kitchen counter and sink.