711 S C St (Palm Terrace), Oxnard, CA 93030

Property Overview

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Palm Terrace is a 22-unit affordable apartment community at 711 South C Street in Downtown Oxnard, offered at $4,200,000 ($190,909 per unit). A separately leased daycare adds a second income source.

The mix is entirely family-sized: ten 2BR/1BA apartments averaging 764 SF and twelve 3BR/2BA apartments averaging 1,025 SF. The August 2026 rent roll shows 21 of 22 apartments occupied, with average resident tenure of about 14 years reported by ownership. In-place rents average $1,584 per apartment, rising to $1,602 at 2026 restricted maximums, a 1.15% increase subject to the governing agreements. Three 2BR apartments carry tenant-based Section 8 vouchers.

Rents are governed by recorded TCAC, City of Oxnard, and CalHFA agreements, with the TCAC covenant running through 2055. The Mexican American Opportunity Foundation’s daycare lease is in its first option term through December 2027, with options through 2035. With 45 parking spaces (per seller), separately metered electric and gas, a welfare-exemption history, and expenses at 43.82% of EGI, Palm Terrace is a day-one income asset for a long-term affordable-housing owner.

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Key Property Details

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• Price: $4,200,000
• Units: 22 apartments + 1 daycare
• Unit Mix: (10) - 2+1, (12) - 3+2, (1) daycare | 21 LIHTC units @ 30/40/50% AMI thru 2055 + manager's unit (80% AMI)
• Affordability: 21 LIHTC units at 30/40/50% AMI through 2055, plus manager’s unit (80% AMI)
• Zoning: DT-G
• Parking: 45 spaces (per seller)
• Occupancy: 21 of 22 apartments (August 2026 rent roll)

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Investment Highlights

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• Established Tenancy - 21 of 22 Occupied: The August 2026 rent roll shows 21 of 22 apartments occupied, and ownership reports approximately 14 years of average resident tenure. Long tenure limits vacancy periods, make-ready costs, and repeat leasing expense.
• Separate Daycare Income With Contractual Growth: The Mexican American Opportunity Foundation lease schedules $2,554.38 per month ($30,652.56 annualized) in base rent, with 3.5% annual increases during extension terms. The current term runs through December 31, 2027, with two-year options through 2035.
• Documented Welfare-Exemption History: The 2026–27 assessor notice shows the full $2,961,453 assessed value as exempt, following a 95% exemption in 2025–26. The 2025–26 tax bill was $6,404, against about $52,500 at a 1.25% tax rate on a $4.2M price without the exemption. The exemption does not transfer with the deed; the buyer must qualify and file.
• Fee-Simple Sale With No Senior Mortgage: Only a $96,825 CalHFA note at 0% interest is to be assumed. The ownership structure can be kept in a way that preserves the property’s nonprofit tax exemption, which opens the asset to conventional multifamily investors as well as affordable-housing owners.

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Neighborhood and Accessibility

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Palm Terrace sits on South C Street in Downtown Oxnard, an established street grid that connects residential blocks with local businesses, public spaces, and cultural landmarks. Heritage Square preserves a collection of Victorian and Craftsman buildings, and Plaza Park serves as the downtown’s central gathering place, surrounded by restaurants, coffee shops, and businesses.

The Oxnard Transit Center connects Metrolink’s Ventura County Line toward Los Angeles, Amtrak, Gold Coast Transit, and VCTC services. U.S. 101 and State Route 1 link the property to the rest of Ventura County and adjacent markets. The regional economy includes defense and manufacturing anchors such as Naval Base Ventura County and Haas Automation, headquartered in Oxnard.

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl