1315 Devonshire Dr · Oxnard, CA 93030

$4,798,000

300 bd · 625.0 ba · 11,999 sqft · MultiFamily public records · 17 Days on market

Built 1964 0.34 ac lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Rent growth +2.8/5.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 25 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

25-unit Oxnard apartment building for sale located on a corner lot near Fremont Square shopping center, several medical clinics and schools as well as bus lines. 1315 Devonshire DR is a 2-story courtyard style property featuring (12) 1BD units and (13) studios along with garage parking. The roof has recently been replaced. Other recent improvements include the installation of seismic shutoff valves on gas meters, 2 new commercial grade water heaters and upgraded cold water line plumbing pipes (pipes were sandblasted and injected with epoxy liner). The site is separately metered for electricity and gas. There is an onsite laundry room and the garages offer ADU conversion potential. Offered at $191k/unit and a 6.2% CAP rate, 10.2 GRM this is a compelling opportunity to own in a strong rental market with additional upside potential in rental rates.

Key facts

• Courtyard style
• Onsite laundry room
• Corner lot

Tags

• CORNER LOT
• COURTYARD STYLE
• RECENTLY REPLACED ROOF
• SEISMIC SHUTOFF VALVES
• COMMERCIAL GRADE WATER HEATERS
• ONSITE LAUNDRY ROOM

Property features AI

Finance

• Financial info: Multifamily property with 25 total units; Unit rents noted: some units rent for approximately $1,605 and $1,393 (monthly totals reported)

Exterior

• Parking: 25 garage spaces
• Utilities: Heating available
• Home design: 2-story building; Cross street: Ventura Rd
• Exterior features: Zoning: CLA

Interior

• Bedrooms: 25 total units: 12 units with 1 bedroom, 13 units (bedrooms not specified)
• Bathrooms: Units with 1 bathroom (Unit type counts: 12 units have 1 bath; 13 units have 1 bath)
• Heating & cooling: Wall furnace heating
• Interior features: Laundry room
• Laundry & utility: Shared laundry room

What this means for you Summary

Snapshot

• This is a 25 × 12-bed/12.0-bath units multifamily listed at $4.80M.

Deal economics

• At list price, monthly cash flow is $34k ($413k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($82k rent vs $4.80M).
• Recommended offer: $4.73M (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 2.5% in Oxnard — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 54/100 on livability (#905 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A-, health & safety A-, housing B; Watch: schools F, crime F, amenities D-.
• Oxnard Union High (urban): math 28% / reading 51% proficiency, ranked #220 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.2%/yr); 29 active listings in the ZIP; solid renter incomes; 1,759 units permitted in Ventura County in 2024 (1,196 in 5+ unit buildings).
• At $81,641/mo this rent would consume 1054% of the median local household income ($93k/yr) (locally 2012% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $33k of loan paydown is wiped out by about $144k of value loss. Plan a longer hold.
• Ventura County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $1.34M cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($4.73M) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $2.33M; list at $4.80M implies a 106% gain — meaningful room to come down on a strong offer.

Recommended offer $4,726,030 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.71%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 1.94×
• Total profit: $1,268,462
• Equity at exit: $715,397

10-year hold

• IRR: 30.3%
• Equity multiple: 3.50×
• Total profit: $3,355,441
• Equity at exit: $414,843

Cash invested: $1,343,440 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 93030

• Rents YoY: 1.2%
• Active inventory: 29
• Price-to-rent: 122.4×

Monthly cashflow live

• Estimated rent: $81,641 medium
• Mortgage (P&I): −$25,161
• Tax from tax record: −$2,959 /mo · $35,513/yr
• Insurance: −$1,999
• HOA: −$0
• Vacancy / Maint / Mgmt: −$17,145
• Net cashflow: $34,377

Break-even live

Break-even rent $38,126

Max offer price $4,798,000

Occupancy floor 53%

Sensitivity live

Price	-10% $37,093	-5% $35,735	+0% $34,377	+5% $33,019	+10% $31,661
Rent	-10% $27,927	-5% $31,152	+0% $34,377	+5% $37,601	+10% $40,826
Rate	-1.0pp $36,793	-0.5pp $35,597	base $34,377	+0.5pp $33,133	+1.0pp $31,868

25-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 25× units	12	12	$81,650
Total (25 units)			$81,641

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,199,500
• Closing costs: $143,940
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $4,798,000 Active 17 DOM
2. 2026-06-17
   days on market $4,798,000 Active 16 DOM
3. 2026-06-16
   days on market $4,798,000 Active 15 DOM
4. 2026-06-15
   days on market $4,798,000 Active 14 DOM
5. 2026-06-13
   days on market $4,798,000 Active 12 DOM
6. 2026-06-13
   days on market $4,798,000 Active 11 DOM
7. 2026-06-10
   days on market $4,798,000 Active 9 DOM
8. 2026-06-09
   days on market $4,798,000 Active 8 DOM
9. 2026-06-08
   days on market $4,798,000 Active 7 DOM
10. 2026-06-07
    days on market $4,798,000 Active 6 DOM
11. 2026-06-05
    days on market $4,798,000 Active 3 DOM
12. 2026-06-03
    days on market $4,798,000 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $4,798,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $35,513 · $2,959/mo
• Projected year-2 tax: $36,465 · $3,039/mo
• Expected delta: +$952/yr (+$79/mo · 2.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥85°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $979,692
• − Mortgage interest: −$268,763
• − Property taxes: −$35,513
• − Insurance: −$23,990
• − Repairs & maintenance: −$78,375
• − Management: −$78,375
• − Depreciation: −$139,578
• Taxable income: $355,098
• Est. tax owed @ 24.0%: −$85,223
• After-tax cash flow: $327,295/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Oxnard Union High
• NCES district ID: 0629270
• Math proficiency: 28% ▲ 7.00%
• Reading proficiency: 51% ▲ 11.00%
• Median HH income: $68,770
• Composite: 35.79/100
• National rank: #4835
• State rank: #220 of 517 in CA

Livability — Oxnard

• Score: 54/100
• State rank: #905
• US rank: #24028

Category grades

Amenities D- Commute F Cost of living F Crime F Employment A- Housing B Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxnard, CA
• County: Ventura County · 829,955 people
• City population: 213,176
• Metro: Oxnard-Thousand Oaks-Ventura, CA
• Population (ZIP): 58,192
• Household income: $92,958
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2012.0

Population outlook (Ventura County) Hauer SSP2

• Today (2025): 895,754 people
• By 2030: 912,134 · +1.8%
• By 2040: 931,454 · +4.0%
• By 2050: 934,609 · +4.3%
• By 2075: 924,899 · +3.3%
• By 2100: 864,712 · -3.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 42% White 10% Asian 6% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 74%
• Foreign-born: 34% · Canada, Vietnam
• Languages at home: 30% English-only · Spanish 63% Tagalog/Filipino 2% Vietnamese 1%

Political lean MEDSL · Ventura

• 2024 margin: D (+15.1) · D 56.1% · R 41.0% · Other 2.9%
• 2008→2024 swing: +2.8pp toward D · 2008: 12.3pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+21.1 2016: D+16.8 2012: D+5.3 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -694.57%
• Current HPI: 324.8799
• Rent YoY: ▲ 1.23%
• Metro: Oxnard-Thousand Oaks-Ventura, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+134.0% since first listed

40 events — show timeline

• 2026-06-01 Listed $4,798,000 SBMLS
• 2026-06-01 Listed $4,798,000 CRMLS
• 2025-05-30 Listing Removed — SBMLS
• 2025-05-29 Listing Removed — CRMLS
• 2025-04-30 Price Changed $5,217,000 SBMLS
• 2025-04-30 Price Changed $5,217,000 CRMLS
• 2025-01-30 Listed $5,395,000 SBMLS
• 2025-01-28 Listed $5,395,000 CRMLS
• 2025-01-18 Rental Removed $1,950 APPFOLIO
• 2024-04-10 Listed for Rent $1,950 APPFOLIO
• 2024-04-10 Rental Removed $1,950 APPFOLIO
• 2024-01-26 Listed for Rent $1,950 APPFOLIO
• 2023-12-07 Rental Removed $1,750 APPFOLIO
• 2023-10-04 Listed for Rent $1,750 APPFOLIO
• 2013-04-18 Sold (Public Records) $2,325,000 Public Records
• 2013-04-18 Listing Removed — NSBCRMLS
• 2013-04-18 Sold (MLS) $2,325,000 CRMLS
• 2013-04-18 Sold (MLS) $2,325,000 CRMLS
• 2013-04-18 Sold (MLS) $2,325,000 SBMLS
• 2013-04-02 Pending — CRMLS
• 2013-04-02 Listing Removed — CRMLS
• 2013-02-20 Listed $2,350,000 CRMLS
• 2013-02-20 Listed $2,350,000 SBMLS
• 2013-02-01 Listed $2,350,000 NSBCRMLS
• 2013-02-01 Listed $2,350,000 CRMLS
• 2012-12-01 Listing Removed — CRMLS
• 2012-10-03 Price Changed $2,350,000 CRMLS
• 2012-08-23 Price Changed $2,300,000 CRMLS
• 2012-08-01 Price Changed $2,160,000 CRMLS
• 2012-06-18 Price Changed $2,375,000 CRMLS
• 2012-06-15 Listing Removed — CRMLS
• 2012-06-15 Price Changed $2,375,000 CRMLS
• 2012-05-30 Listed $2,350,000 CRMLS
• 2012-05-30 Listed $2,350,000 CRMLS
• 2012-05-30 Listed $2,350,000 SBMLS
• 2011-06-02 Sold (MLS) $1,800,000 CRMLS
• 2011-06-01 Sold (Public Records) $1,800,000 Public Records
• 2011-03-17 Listing Removed — CRMLS
• 2011-03-06 Listed $1,800,000 CRMLS
• 2008-05-05 Listed $2,050,000 SBMLS

Property tax history

+11.6%/yr

Latest (2025): $35,513 · +2.2% YoY. Source: county tax records.