Las Arenas - 5230 Driftwood St., Oxnard, CA 93035

Las Arenas - 5230 Driftwood St., Oxnard, CA 93035 - A 10 Unit Multifamily Apartment Property
Exclusively Listed By:
Dwight Kay - Founder
KPI Brokers, Inc
Direct: (310) 404-7297
Fax: (310) 984-8791
[email protected]
www.kpibrokers.com
License # 01838618
Table of Contents
Notices and Disclaimers: 3
The Opportunity: 4-5
Financial Overview: 6
Rent Roll: 7
Income Statement: 8
Property Photos: 9-12
Market and Submarket Overview: 13
Surrounding Area Photos: 14
City Map: 15
Location Map: 16
Satellite Imagery: 17-18
Contact Information: 19
Notices and Disclaimers: 26
2
Notices and Disclaimers
This document contains information that has been obtained from sources believed to be reliable. However, KPI Brokers, Inc. and its agents/
brokers do not guarantee the accuracy and validity of the information herein. Buyers/Investors/Exchangers/Brokers/
Agents should perform their own investigations before considering any purchase/exchange/investment.
There are material risks associated with purchasing/investing in/exchanging real estate.
These include, but are not limited to, tenant vacancies, potential loss of investment principal, that past performance is not a guarantee of future
results, that potential cash flow, potential returns and potential appreciation are not guaranteed in any way and that real
estate is typically an illiquid investment.
IRC Section 1031 and IRC Section 1033 are complex tax codes therefore you should consult your tax or legal professional
for details regarding your particular situation. This material is not intended as tax or legal advice. All buyers and exchangers are encouraged to
speak with their own tax and legal advisors for details regarding their particular situation. This material does not constitute an offer to sell nor a
solicitation of an offer to buy any security.
The information included in this document is provided only as an introduction to the property. All parties interested in purchasing should base their
final decision on the results of their own independent inspection of the property. All parties should satisfy themselves as to the compliance of the
property to all governing bodies pertaining to the legal, environmental or physical conditions of the title or property. All financial data provided is
given for informational purposes only and is not guaranteed.
All parties should perform their own market feasibility study to determine the soundness of the financial data provided. The Broker/
Owner makes no representations as to the accuracy or completeness of the information included in this document. This information is believed to
be accurate however; we are not responsible for misstatements of facts, errors or omissions, prior sale, changes of price or withdrawal from the
market without notice.
The following information is furnished solely for the purpose of a review by a prospective purchaser of the property and is not to be used for any
other purpose or made available to any other person without prior written consent. This document and its contents are of a confidential nature and
shall be held and treated in the strictest confidence. No portion of this offering memorandum may be copied or otherwise
reproduced or disclosed without prior written authorization.
© 2012 KPI Brokers, Inc
3
The Opportunity: Highly Sought After Oxnard Beach Multifamily Property
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10 unit multifamily property located just steps from Oxnard beach
Provides buyer with attractive cash flow/depreciation write offs
Upside potential with a condominium conversion – All units are separately metered!!!
Brand new roof installed in December 2011
Irreplaceable beach side location
Walking distance to Oxnard Shores Park
4
The Opportunity: Highly Sought After Oxnard Beach Multifamily Property
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Attractive garden-style complex
Extra large sundeck for residents to have social gatherings, sunbathe, etc
Easy access to neighborhood shopping, restaurants and the harbor
Quick and easy access to the 101 freeway
Multiple new, high-end homes surrounding property
5
Financial Overview:
Location: 5230 Driftwood Street Oxnard, CA 93035
Price: $2,500,000
Price Per Unit: $250,000
Projected Monthly Rent: $14,260
Projected Gross Annual Income: $171,120
Projected Net Operating Income: $118,120
Cap Rate: 4.72%
Gross Rent Multiplier: 14.61
Year Built: 1972
Rent Control: No
Fee to Buyer’s Broker: 2%
Lot Sq Ft: 15,381 Sq Ft
Ownership Type: Fee Simple
APN #: 1910032155
Subdivision: Oxnard Shores
Zoning: R3C
6
Rent Roll:
Unit #
Monthly
Mix and Sq Ft Rent
Move in Date
1 2br/1ba - 1040
$1,450.00
5/2012
2 2br/1ba -
957
$1,450.00
7/22/12
3 2br/1ba -
957
$1,450.00
8/3/02
4 2br/1ba - 1040
$1,450.00
10/29/07
5 1br/1ba -
$1,250.00
6/1/11
864
6 2br/1ba - 1040
$1,450.00 Vacant - Remodel Completed
7 2br/1ba -
957
$1,450.00 Vacant - Remodel Completed
8 2br/1ba -
957
$1,450.00
5/9/10
9 2br/1ba - 1040
$1,450.00
9/18/11
$1,250.00
10/22/07
10 1br/1ba -
864
7
Income Statement:
Monthly Projected Rent
Laundry Income
$14,100.00
$160.00
Total Monthly Projected Income
$14,260.00
Gross Scheduled Annualized Income
$171,120.00
Annualized Projected Expenses
Property Taxes
Insurance
Utilities - City of Oxnard/Trash
Utilities - Gas
Utilities - Edison
Gardening @ $150/mo
Repairs/Maintenance
License
Misc
Total Annualized Projected Expenses
-$25,000.00
-$2,559.00
-$5,591.00
-$2,479.00
-$626.00
-$1,800.00
-$14,243.00
-$278.00
-$424.00
-$53,000.00
Net Operating Income (NOI)
$118,120.00
Price
Cap Rate
Gross Rent Multiplier
$2,500,000
4.72%
14.61
8
Property Photos
9
Property Photos (Cont’d)
10
Property Photos (Cont’d)
11
Surrounding Area New Construction
12
Market and Submarket Overview
Oxnard, home to over 20 miles of scenic coastline, is located in Ventura County and is the 19th most populous
city in California. The city lies approximately 35 miles west of the Los Angeles city limits and 11 miles inland
from the Channel Islands. The population of Oxnard in the 2010 U.S. Census was 197,899. It is a major
transportation hub in Southern California, with Amtrak, Union Pacific, Metrolink, Greyhound and Intercalifornia
stopping in Oxnard. There is also a small regional airport located in the city called Oxnard Airport (OXR).
The city of Oxnard is served by 54 public school campuses, which provide education to more than 53,000
students in grades K-12. If all Oxnard public school districts were unified into one district, similar to cities such
as New York and Los Angeles, it would be the 71st largest school district in the United States.
The economy of Oxnard is driven by international trade, agriculture, manufacturing, defense, and tourism.
Oxnard is one of the key manufacturing centers in the Greater Los Angeles Area. The Port of Hueneme is the
busiest and only deep-harbor commercial port between Los Angeles and San Francisco, and is vital to trade
with the Pacific Rim economies. Companies utilizing the Port include Del Monte Foods, Chiquita, BMW, Land
Rover, and Jaguar. Other key industries driving Oxnard's existence include finance, transportation, the high
tech industry, and energy, particularly petroleum. Two large active oil fields underlie the city and adjacent
areas: the Oxnard Oil Field, east of the city along 5th Street, and the West Montalvo Oil Field along the coast
to the west of town. Tenby Inc.'s Oxnard Refinery, on 5th Street east of Del Norte Avenue, processes oil from
both fields.
Sources:
www.ci.oxnard.ca.us
www.wikipedia.org
13
Surrounding Area Photos
14
City Map
15
Location Map
16
Satellite Imagery
17
Satellite Imagery
18
Las Arenas - 5230 Driftwood St., Oxnard, CA 93035 - A 10 Unit Multifamily Apartment Property
For More Information Please
Contact:
Dwight Kay - Founder
KPI Brokers, Inc
Direct: (310) 404-7297
Fax: (310) 984-8791
[email protected]
www.kpibrokers.com
License # 01838618
Please visit this properties website :
http://www.crelisting.net/WiT7QJ59g#
Notices and Disclaimers
This document contains information that has been obtained from sources believed to be reliable. However, KPI Brokers, Inc. and its agents/
brokers do not guarantee the accuracy and validity of the information herein. Buyers/Investors/Exchangers/Brokers/
Agents should perform their own investigations before considering any purchase/exchange/investment.
There are material risks associated with purchasing/investing in/
exchanging real estate. These include, but are not limited to, tenant vacancies, potential loss of investment principal, that past performance is not a
guarantee of future results, that potential cash flow, potential returns and potential appreciation are not guaranteed in any way and that real
estate is typically an illiquid investment.
IRC Section 1031 and IRC Section 1033 are complex tax codes therefore you should consult your tax or legal professional
for details regarding your particular situation. This material is not intended as tax or legal advice. All buyers and exchangers are encouraged to
speak with their own tax and legal advisors for details regarding their particular situation. This material does not constitute an offer to sell nor a
solicitation of an offer to buy any security.
The information included in this document is provided only as an introduction to the property. All parties interested in purchasing should base their
final decision on the results of their own independent inspection of the property. All parties should satisfy themselves as to the compliance of the
property to all governing bodies pertaining to the legal, environmental or physical conditions of the title or property. All financial data provided is
given for informational purposes only and is not guaranteed.
All parties should perform their own market feasibility study to determine the soundness of the financial data provided. The Broker/
Owner makes no representations as to the accuracy or completeness of the information included in this document. This information is believed to
be accurate however; we are not responsible for misstatements of facts, errors or omissions, prior sale, changes of price or withdrawal from the
market without notice.
The following information is furnished solely for the purpose of a review by a prospective purchaser of the property and is not to be used for any oth
er purpose or made available to any other person without prior written consent. This document and its contents are of a confidential nature and shal
l be held and treated in the strictest confidence. No portion of this profile may be copied or otherwise reproduced or disclosed without prior written
authorization.
© 2012 KPI Brokers, Inc
20