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1300 Isleton Place

Oxnard, CA 93030
  • $1,400,000
  • STATUS: Closed
  • ON SITE: 199 Days
  • ID#: V1-20305
Sold - 04/16/2024
$1,400,000
SOLD - 04/16/2024
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1980
County:

School Ratings & Info

Listing Agent(s): Craig Lieberman of Apartment Investment Specialis ((805) 320-6646)


Description

This 4-plex is comprised of (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 (currently at $100,440/year, but will be $109,458 in July 2024 after rent increases go into effect and with tenants reimbursing the owner for water/sewer utility cost), a critical element for Oxnard residential income properties that are subject to the recently adopted Rent Stabilization Ordinance (''RSO'') limiting annual rent increases to 4% of each preceding base rents, thereby making this property maintain a distinct advantage over most other comparable 4-plexes in the Oxnard residential income market. Another strong advantage this property holds is its year built (1980), which likely makes property maintenance costs much less likely to occur than most other 4plexes sold or available for sale that were built earlier.Property management is in the process of notifying tenants that tenants will now be reimbursing the landlord 100% of the water/sewer and trash expense. This is in addition to any possible rent increase that may occur in the short-term future.

Sold by Alfredo Almada of Realty Matters.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-21T12:21:09.123. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/144088450
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1300 Isleton Place Oxnard, CA 93030

  • Price: $1,435,000
  • Status: Closed
  • On Site: 199 Days
  • Updated: 238 min ago
  • ID#: V1-20305
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1980
Built
Neighborhood:
Not Applicable
County:
Ventura
Area:
VC34 - Oxnard - Southeast
Property Description
This 4-plex is comprised of (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 (currently at $100,440/year, but will be $109,458 in July 2024 after rent increases go into effect and with tenants reimbursing the owner for water/sewer utility cost), a critical element for Oxnard residential income properties that are subject to the recently adopted Rent Stabilization Ordinance (''RSO'') limiting annual rent increases to 4% of each preceding base rents, thereby making this property maintain a distinct advantage over most other comparable 4-plexes in the Oxnard residential income market. Another strong advantage this property holds is its year built (1980), which likely makes property maintenance costs much less likely to occur than most other 4plexes sold or available for sale that were built earlier.Property management is in the process of notifying tenants that tenants will now be reimbursing the landlord 100% of the water/sewer and trash expense. This is in addition to any possible rent increase that may occur in the short-term future.
Exterior Features

Fencing None Lot Features Sprinklers None Number Of Separate Electric Meters 4 Parking Features Garage Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No View None View YN No

Interior Features

Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes

Property Features

Association Amenities Insurance Association Fee 592 Association Fee Frequency Monthly Association YN Yes Buyer Financing Seller Financing Community Features Street LightsSidewalks Fuel Expense 1025 Garage YN Yes Gross Income 100440 Gross Scheduled Income 100440 Insurance Expense 2050 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Net Operating Income 70800 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 29640 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Trash Expense 2000 Water Sewer Expense 3500



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-21T12:21:09.123. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395
Listing Agent(s): Craig Lieberman of Apartment Investment Specialis ((805) 320-6646)