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City-Approved 78-Unit Multifamily Development 1620 Ives Ave 2.91 Acres of Commercial Land Online Auction Sale Oxnard, CA 93033
INVESTMENT HIGHLIGHTS
- 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.
- Within a designated Opportunity Zone, benefitting qualified developments with substantial potential capital gains tax incentives.
- Supported by a 5-mile renter population of more than 78,000, with annual spending in the area exceeding $1.5 billion.
- Easily accessible via the 1 and 101 freeway, with convenient proximity to major urban centers like Los Angeles and Santa Barbara.
- Located minutes from Port Hueneme Beach, premier shopping at the Camarillo Outlets, and major employers like Procter & Gamble and Chiquita Brands.
- Strong multifamily submarket, with vacancies of just 2.7% and annual average rent growth of 4.5% during the past five years.
EXECUTIVE SUMMARY
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 children’s playground, patio seating areas, and a large surface parking lot.
Oxnard’s 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 city’s 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 County’s lucrative multifamily market.
Property tours are by appointment only. Please contact the listing broker to schedule.
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 children’s playground, patio seating areas, and a large surface parking lot.
Oxnard’s 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 city’s 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 County’s lucrative multifamily market.
Property tours are by appointment only. Please contact the listing broker to schedule.
DATA ROOM Click Here to Access
- Oxnard Project Materials
- Purchase Agreement
- Title and Insurance
PROPERTY FACTS
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | Sale Condition | Auction Sale |
| Sale Type | Investment | Type of Ownership | Fee Simple |
| Total Lot Size | 2.91 AC | ||
| Zoning | BRP | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Sale Type | Investment |
| Total Lot Size | 2.91 AC |
| Opportunity Zone |
Yes |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Zoning | BRP |
1 LOT AVAILABLE
Lot
| Lot Size | 2.91 AC | Parcel Numbers | 220-0-274-115, 220-0-274-135, 220-0-274-145 |
| Lot Size | 2.91 AC |
| Parcel Numbers | 220-0-274-115, 220-0-274-135, 220-0-274-145 |
SALE ADVISORS
SALE ADVISORS
Simrit Dhillon, Associate
Simrit is a commercial real estate professional based in Los Angeles, California. They work with Colliers as an Associate.
Kitty Wallace, Vice Chair
Bursting onto the commercial real estate scene in 1997, Kitty quickly rose through the ranks to become an authority in the multifamily market. She has continued to set and surpass performance goals both within the organizations she’s been a part of and the industry altogether. During her accomplished career, Kitty has closed more than 400 transactions that exceed $3 billion in total value while achieving record-breaking prices per unit and square foot. She is consistently recognized as one of the top multifamily brokers in Los Angeles and has amassed a multitude of industry accolades over the years.
Kitty joined Colliers International Greater Los Angeles, Inc. in January 2010 as Executive Vice President, specializing in investment sales of apartment buildings, land development, condominium conversions, student housing, affordable housing and special assets throughout California and the Western U.S. She previously served as Senior Vice President for Sperry Van Ness where she ranked as the company’s #1 multifamily advisor and #1 rolling agent across all product types nationwide.
Touted by the media as a multifamily expert in Southern California, Kitty has been quoted in such publications as the Los Angeles Times, BisNow, GlobeSt.com, the Los Angeles Business Journal, Multi-Housing News and Multifamily Executive Magazine, among others. She has also served as both moderator and panelist at numerous real estate conferences including RealShare, Apartment Finance Today, BisNow, ULI and Crittenden.
Kitty joined Colliers International Greater Los Angeles, Inc. in January 2010 as Executive Vice President, specializing in investment sales of apartment buildings, land development, condominium conversions, student housing, affordable housing and special assets throughout California and the Western U.S. She previously served as Senior Vice President for Sperry Van Ness where she ranked as the company’s #1 multifamily advisor and #1 rolling agent across all product types nationwide.
Touted by the media as a multifamily expert in Southern California, Kitty has been quoted in such publications as the Los Angeles Times, BisNow, GlobeSt.com, the Los Angeles Business Journal, Multi-Housing News and Multifamily Executive Magazine, among others. She has also served as both moderator and panelist at numerous real estate conferences including RealShare, Apartment Finance Today, BisNow, ULI and Crittenden.
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MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
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Based on Winning Bid Amount
Minimum Transaction Fee
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Maximum Transaction Fee
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Example Calculation
Winning Bid Amount
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Total Purchase Price
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City-Approved 78-Unit Multifamily Development | 1620 Ives Ave
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