711 S C St (Palm Terrace) | 22-Unit Affordable Multifamily, Oxnard. 2001-built asset totaling 23,954 SF on a 44,954 SF lot in Downtown Oxnard, a short walk from Heritage Square, Plaza Park, and the Oxnard Transit Center. The property features (10) 2BR/1BA units averaging 764 SF and (12) 3BR/2BA units averaging 1,025 SF, plus a separately leased daycare a second income stream with options through 2035. Twenty-one of 22 apartments are occupied, with about 14 years of average resident tenure reported by ownership, and rents are restricted under recorded TCAC, City of Oxnard, and CalHFA agreements at 30/40/50% AMI through 2055. Offered at $4,200,000 ($190,909/unit | $175.34/SF) with a 5.95% in-place cap rate, the real story is durability long-tenured, family-sized affordable housing with a 6.07% pro forma cap and no senior mortgage to assume.
Multi-familyProperty Type
2001Year Built
1.03 acresLot Size
$953Price/Sq.Ft.
45 spacesParking
Listed by Taylor Avakian•DRE #02060040• Lyon Stahl Investment Real Estate, Inc.
South of Seventh District, located between South Oxnard Boulevard and South C Street, is a residential and industrial Oxnard neighborhood with a grid of modest bungalows and a working-port backdrop. The neighborhood’s character concentrates around the South Oxnard Blvd & W 7th St corridor, where taquerias, auto shops, and corner markets set a steady, utilitarian rhythm. Heritage Square anchors nearby with restored Victorian-era homes and small cultural programming. The Murphy Auto Museum adds a niche, design-forward stop for car culture. Streets trend flat and breezy, with the Channel Islands Harbor and beaches shaping the horizon and daily pace.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Heating & cooling
No heat
No cooling
Home design
Residential income property
Two stories
Multi-level
Parking
45 parking spaces
Garage above street level
HOA & community
23 units in the complex
Financial info
Gross income of $448,806
Gross operating income of $445,195
Net operating income of $250,093
Annual expenses of $195,101
Cap rate of 5.95%
Gross rent multiplier of 9.36
Vacancy rate of 4.55%
Actual financials reported
Two buildings
Mixed unit types
10 two-bedroom, one-bath units
12 three-bedroom, two-bath units
Actual rents of $15,662 for the two-bedroom units and $19,224 for the three-bedroom units
Projected rents of $15,701 for the two-bedroom units and $19,545 for the three-bedroom units
Electricity and solar
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