Description
Seller will consider carrying Loan!Terms to include 7% interest rate with $700,000 downThis 4-plex is comprised (1) 3 Bed / 2 Bath; (2) 2 Bed / 1.5 Bath, and (1) 2 Bed / 1 Bath. The financial strength of this property is the most obvious highlight with its strong rents in place ($101,220/year), a critical element for Oxnard residential income properties that are subject to the recently adopted Rent Stabilization Ordinance (''RSO'') that caps the annual rent growth to 4% of unit base rents, making this property have a distinct advantage over most other comparable 4-plexes in the Oxnard residential income market.See seller proforma in the documents section.In fact, when considering all other Oxnard 4plexes sold since the beginning of 2021, this property generates more than 25% higher annual income than the next highest income-generating ($79,860) 4plex sold in the Oxnard market during that period. Another strong advantage 1310 Hull Place holds over its property piers is the fact that it was constructed in 1980 and would be expected to suffer less maintenance costs than most other of the comparable 4plexes.
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0BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
School Information
Description
Seller will consider carrying Loan!Terms to include 7% interest rate with $700,000 downThis 4-plex is comprised (1) 3 Bed / 2 Bath; (2) 2 Bed / 1.5 Bath, and (1) 2 Bed / 1 Bath. The financial strength of this property is the most obvious highlight with its strong rents in place ($101,220/year), a critical element for Oxnard residential income properties that are subject to the recently adopted Rent Stabilization Ordinance (''RSO'') that caps the annual rent growth to 4% of unit base rents, making this property have a distinct advantage over most other comparable 4-plexes in the Oxnard residential income market.See seller proforma in the documents section.In fact, when considering all other Oxnard 4plexes sold since the beginning of 2021, this property generates more than 25% higher annual income than the next highest income-generating ($79,860) 4plex sold in the Oxnard market during that period. Another strong advantage 1310 Hull Place holds over its property piers is the fact that it was constructed in 1980 and would be expected to suffer less maintenance costs than most other of the comparable 4plexes.
© 2023 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2023-12-09T17:47:15.34. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2023-12-09T17:47:15.34.