861 Jane Drive, Port Hueneme, California 93041

We are proud to present, The Wynema, located at 861 Jane Drive. The Wynema is a multifamily investment property located in the beachside community of Port Hueneme, California. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add asset with significant rental upside potential.rnrnThe apartment building is comprised of 5 spacious units in one two-story building totaling ±3,533 building square feet. The building construction is of wood frame with flat roof and painted stucco exterior. The property is situated on a ±6,029 square foot lot zoned R2 and development of the property was completed in 1963.rnrnThe building is accessible in the front of the property off of Jane Drive and offers residence (6) covered carport parking spaces located at the rear of the property, which equates to 1.2 spaces per unit.rnrnThe unit mix is comprised of:rnrn+ (4) 1 Bedroom + 1 Bath unitsrn+ (1) 2 Bedrooms + 1.5 BathrnrnThe emerging beach community of Port Hueneme in Ventura County is known for its pristine beaches, great weather and outdoor aquatic activities such as surfing, boating and fishing.rnrnLocated just 60 miles from Downtown Los Angeles, Port Hueneme is becoming a preferred destination for families and individuals looking to leave a busy city lifestyle and and relocate to an affordable beach community which is adjacent to both the Cities of Oxnard and Ventura.rnrnPort Hueneme in Ventura County is primarily a single-family housing market, with additional competition for apartment demand coming from mobile home parks.rnrnAfter a run of strong demand beginning in 2020 and lasting into 2021, the vacancy rate is trending at 3.2% compared to the longer-term average of 3.9%. It is trending near the record low that was reached in 2021. Meanwhile, rental growth has accelerated, up 11.3% year over year. While still historically high, rent growth has moderated from the all-time high in 2021.rnrnProperty Highlights:rnrn+ Rental upside potentialrn+ AB 1482: 5% + CPI rental increasesrn+ Excellent financing available with attractive leverage and ratern+ Diverse unit mix of (4) 1 bedroom + 1 bath and (1) 2 bedroom + 1.5 bath unitsrn+ Located on a quiet residential street just minutes from the beachrn+ Value-add opportunity with immediate upside potentialrn+ Located in a Tier 2 Transit Oriented Community (TOC)