Investment Overview

Marcus & Millichap is pleased to present 443 Occidental Drive, a 29-unit apartment building located in a desirable rental submarket of Oxnard, California. Built in 1962, the property features a favorable unit mix consisting of (13) studio/one-bathroom units, (14) one-bedroom/one-bathroom units and (2) two-bedroom/one-bathroom units. Property amenities include controlled access, gated parking, covered carport parking (select units), a swimming pool and an on-site laundry facility. The 14,135 square foot building sits on a large 0.63 acre lot. This property is an excellent opportunity for an investor looking for immediate cash flow as the asset has an estimated cap rate of 6.89% and an estimated GIM of 8.24 based on current income. 443 Occidental Drive is conveniently located in close proximity to grocery stores, restaurants and retail. The property is located approximately 1.5 miles away is The Collection at Riverpark, an outdoor lifestyle center anchored by Whole Foods Market, Target, REI, The Container Store and a 16-screen Cinemark movie theater. Other area attractions include the Camarillo Premium Outlets, St. John’s Regional Medical Center, Mandalay State Beach and the Ventura Harbor Village Shopping Center. The property offers convenient access to the PCH and 101 freeway for commuters heading north to Ventura/Santa Barbara and south to Camarillo/Conejo Valley/Los Angeles.