Auction Information
Online Bidding Site2.91 Acres in Oxnard, CA
2.91 acres of prime development land in Oxnard, CA, with approved plans and planning entitlements for a 78-unit MF community with low-cost parking.
Easily accessible via the 1 and 101 freeway, with convenient proximity to major urban centers like Los Angeles and Santa Barbara.
Within a designated Opportunity Zone, benefitting qualified developments with substantial potential capital gains tax incentives.
Located minutes from Port Hueneme Beach, premier shopping at the Camarillo Outlets, and major employers like Procter & Gamble and Chiquita Brands.
Supported by a 5-mile renter population of more than 78,000, with annual spending in the area exceeding $1.5 billion.
Strong multifamily submarket, with vacancies of just 2.7% and annual average rent growth of 4.5% during the past five years.
1620 Ives Avenue presents a unique opportunity to acquire a 2.91-acre parcel of land ideally loc...
1620 Ives Avenue presents a unique opportunity to acquire a 2.91-acre parcel of land ideally located in an Opportunity Zone just off Pacific Coast Highway in the developing city of Oxnard, California.
This entitled lot comes with approved architectural plans, allowing for the construction of a contemporary 78-unit apartment complex. The proposed complex offers a mix of 24 one-bedroom and 54 two-bedroom units, with flexible floor plans and individual balconies. The community includes plans for attractive common areas, including a childrens playground, patio seating areas, and a large surface parking lot.
Oxnards growing rental market, coupled with its strategic coastal location and proximity to major urban centers like Los Angeles and Santa Barbara, positions this property as an attractive investment prospect. With the citys approval already in place, prospective buyers can expedite the development process and capitalize on the growing demand for rental housing in Oxnard. Additionally, the property is conveniently located just 10 minutes from Port Hueneme Beach, 12 minutes from premier shopping at the Camarillo Outlets, and is surrounded by major employment centers such as Procter & Gamble and Chiquita Brands.
A large, affluent renter population established 1620 Ives Avenue as a premier destination for new multifamily development. Within 5 miles of the site, the population of more than 162,000 includes more than 78,000 rental occupants. Wielding an average household income of more than $94,000, these locals contribute an impressive annual spending of more than $1.5 billion, including over $221 million spent on household segments. Vacancies in the local multifamily submarket currently sit at just 2.7%, while rents have grown an annual average of 4.5% during the past five years.
Combining accessibility, strong submarket fundamentals, and fully approved development plans, 1620 Ives Avenue stands out as the perfect inroad for investors/developers looking to make a mark on Ventura Countys lucrative multifamily market.
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