Properties | Watch Hill Apartments

Watch Hill Apartments

41-Unit Apartment Community

680 Evergreen Lane | Port Hueneme, CA

Sales Price: Pricate

Units: 41

Price per Unit: N/A

Price per Sq. Ft.: N/A

Year Built: 1962

Lot Size Sq. Ft.: 43,550

Net Rentable Sq. Ft.: 30,650

On Market Date: 5/17/16

Close of Escrow: 8/31/16

The Harris Group, as the exclusive listing agent, is pleased to announce the sale of Watch Hill Apartments, a 41 unit multifamily apartment building located in coastal community of Port Hueneme in Ventura County. Built in 1962, Watch Hill Apartments offers investors the opportunity to acquire a mid-sized stabilized asset in coastal Ventura County. Comprised of two buildings, the low density garden style community is located on approximately one acre and situated just six blocks from the Pacific Ocean.

The asset offers three floors plans, ranging from 700 to 850 square feet. The unit mix is comprised of twenty two (22) one bed/one bath units, eighteen (18) two bed/one bath units, and one (1) two bed/two bath unit that average approximately 748 square feet. To complement the units, the property features covered parking and laundry room.

The property is being marketed in conjunction with the 34-unit Ivywood Apartments, located at 1501-1531 Ivywood Drive, Oxnard CA . The properties can be purchased individually or as a portfolio.
 
 
  • Rare Mid-Sized Asset in Port Hueneme
  • Located 6 Blocks from the Pacific Ocean
  • Attractive Unit Mix of 1BD and 2BD Units
  • Offered on a Free & Clear Basis - Allows an Investor to Take Advantage of Higher Available Leverage and Historically Low Interest Rates
  • Average Household Income in Port Hueneme/Oxnard is over $76,000
  • 3.40% Average Vacancy Rate in the Submarket in 2015
  • 20% Population Growth in Port Hueneme/Oxnard Since 2000
  • Sustainable Long Term Employment in Government, Medical and Logistics/International Trade Including: US Navy, Port Hueneme, St. John’s Medical, and Community Memorial Hospital
  • Ventura County has Established Itself as a Leading Center for High-Tech, Telecommunications, Clean Energy and Healthcare Bolstering Long Term Employment Growth 
  • Located Along the 101 Tech Corridor, (the Concentration of Employment Along the 101 Freeway from the San Fernando Valley Through Ventura County), Which is Quickly Becoming One of the Top 50 Areas in the United States for Technology Output