Port Hueneme CA  home offered at $1,075,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

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861 Jane Drive
Port Hueneme, California CA 93041-3158
Sold For: $1,050,000
Listing ID: SR22125455
Price/SqFt: $297.20
Status: Closed
Sold Date: 12/23/2022
SqFt: 3,533 Sq Ft
Acres: 0.138 Acres
Subdivision: Other (OTHR)
Year Built: 1963

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)

Primary Features

County: Ventura
Price Reduction Date: 2022-10-08T01:06:51+00:00
Price/SqFt: 297.2
Property Type: Residential Income
Subdivision: Other (OTHR)
Year Built: 1963

Interior

Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 2+ Common Walls
Laundry: no
Laundry Features: None
Levels: Two
Stories Total: 2

External

Carport Spaces: 6
Lot Features: Rectangular Lot, Yard
Lot Size Area: 6029
Lot Size Source: Public Records
Lot Size Square Feet: 6029
Number Of Buildings: 1
Parking: yes
Parking Features: Carport, Detached Carport, Parking Space
Parking Total: 6
Pool Features: None
Private Pool: no
Property Attached: yes
Sewer: Public Sewer
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: VC32 - Oxnard - Port Hueneme Beaches
Subdivision Name Other: Port Hueneme

Additional

Additional Parcels: no
Community Features: Biking, Curbs, Park, Sidewalks, Street Lights, Urban
Days On Market: 119
List Agent State License: 01402283
List Office State License: 01872625
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 1
Number Of Separate Gas Meters: 1
Number Of Separate Water Meters: 1
Number Of Units Leased: 5
Number Of Units Total: 5
Parcel Number: 2070311165
Senior Community: no
Year Built Source: Public Records

Financial

Cap Rate: 5.57
Gross Multiplier: 11.22
Gross Scheduled Income: 95784
Insurance Expense: 1767
Land Lease: no
Net Operating Income: 59827
Operating Expense: 33083
Price Per Unit: 215000
Rent Control: yes
Special Listing Conditions: Standard
Tax Tract Number: 1376
Total Actual Rent: 7982
Total Expenses: 33083

Zoning Info


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Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listed by: RaymondRodriguez, DRE #01402283 from Keller Williams Realty Calabasas 818-657-6500

Contact - Listing ID SR22125455

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

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