| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 54th | Fair |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 141 W Stroube St, Oxnard, CA, 93036, US |
| Region / Metro | Oxnard |
| Year of Construction | 2000 |
| Units | 62 |
| Transaction Date | 2017-12-07 |
| Transaction Price | $9,100,000 |
| Buyer | VINEYARD OXNARD AR LP |
| Seller | VINEYARD GARDENS ASSOCIATES LP |
141 W Stroube St Oxnard Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, with local ownership costs reinforcing reliance on multifamily housing. The property’s inner-suburb setting in Ventura County supports leasing durability for professionally managed operations.
Located in Oxnard’s inner suburbs, the neighborhood rates competitively within the Oxnard–Thousand Oaks–Ventura metro (ranked 9th of 172 neighborhoods, A rating). Multifamily occupancy in the neighborhood is above the metro median and in the top quartile nationally, supporting stable cash flow expectations at the submarket level rather than the property level.
Daily needs and lifestyle amenities are a relative strength. Restaurant and cafe density sits in the upper national percentiles, with grocery, parks, and pharmacies also testing well relative to U.S. peers. This mix tends to aid retention by reducing commute friction and expanding local convenience for renters.
The neighborhood’s renter-occupied share of housing units is competitive among metro peers, indicating a deep tenant base for 62-unit assets. Elevated home values (high-cost ownership market) and a value-to-income profile that is above most U.S. neighborhoods point to sustained renter reliance on apartments, which can support pricing power and lease stability for institutional-quality operations.
Within a 3-mile radius, recent years show modest population softness but an increase in households, with projections indicating household growth alongside rising incomes through the forecast period. A gradual reduction in average household size suggests more households forming, which typically expands the renter pool and supports occupancy stability. Neighborhood-level NOI per unit benchmarks are strong relative to national peers, based on CRE market data from WDSuite, underscoring the area’s income potential at the neighborhood—not property—level.
Schools score below national averages, which operators should weigh when targeting family renters; however, convenience amenities and employment access can offset some demand risk for workforce and professional cohorts. Vintage context: the asset’s 2000 construction is slightly older than the neighborhood average year built, creating straightforward value-add or modernization angles (systems refresh, common-area upgrades) to stay competitive against newer stock.
Safety indicators track below both metro and national benchmarks in this neighborhood context. The area ranks in the weaker half of the 172 neighborhoods in the Oxnard–Thousand Oaks–Ventura metro and sits below the national median by percentile, indicating comparatively higher reported crime than many peer neighborhoods nationwide.
Recent trends show upticks in property and violent offense estimates at the neighborhood level. Investors should underwrite appropriate operational measures—lighting, access control, and partnerships with local patrol resources—to support resident experience and retention while monitoring trend direction over the next leasing cycles.
Proximity to regional life sciences and corporate employers supports a diverse professional tenant base and commute convenience. Nearby anchors include Amgen, Thermo Fisher Scientific, Farmers Insurance Exchange, Boston Scientific Neuromodulation, and AmerisourceBergen.
- Amgen — biopharma operations (14.7 miles) — HQ
- Thermo Fisher Scientific — life sciences (31.2 miles)
- Farmers Insurance Exchange — insurance services (32.7 miles) — HQ
- Boston Scientific Neuromodulation — medical devices (36.7 miles)
- AmerisourceBergen — pharmaceutical distribution (36.9 miles)
This 62‑unit, 2000‑vintage asset benefits from neighborhood-level occupancy that sits above the metro median and in the top quartile nationally, supporting durable leasing conditions. High ownership costs in Ventura County, coupled with a competitive renter-occupied share at the neighborhood level, reinforce the depth of the tenant base and can aid pricing power. According to CRE market data from WDSuite, amenity access ranks well versus U.S. peers, which tends to bolster retention for professionally managed communities.
Forward-looking demographics within a 3-mile radius indicate an increase in households and rising incomes, suggesting a larger tenant base over the next several years. With construction slightly older than the neighborhood average, targeted renovations and system updates offer a clear path to maintain competitiveness against newer supply while capturing neighborhood income potential. Key underwriting considerations include below-average school ratings and a safety profile that trails national medians, warranting prudent operational planning.
- Neighborhood occupancy above metro median supports leasing stability
- High-cost ownership market reinforces multifamily demand and retention
- Household growth and rising incomes (3-mile radius) expand the renter base
- 2000 vintage offers clear value-add via modernization and common-area upgrades
- Risks: below-average school ratings and weaker safety metrics require proactive management