| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 38th | Poor |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4401 Dallas Dr, Oxnard, CA, 93033, US |
| Region / Metro | Oxnard |
| Year of Construction | 1973 |
| Units | 27 |
| Transaction Date | 2021-11-09 |
| Transaction Price | $39,750,000 |
| Buyer | OCEAN VILLAS LLC |
| Seller | 1860 BUSH INVESTORS LP |
4401 Dallas Dr Oxnard Multifamily Investment Opportunity
Neighborhood occupancy remains strong and has held near the high end of the metro range, supporting income stability for a 27-unit asset, according to WDSuite’s CRE market data.
Located in Oxnard’s inner-suburban fabric, the property benefits from a neighborhood that posts competitive occupancy versus the Oxnard–Thousand Oaks–Ventura metro (ranked 47 out of 172 neighborhoods; top tier nationally by percentile). Median contract rents in the neighborhood sit in the 90th percentile nationwide, indicating pricing power relative to many U.S. submarkets, while average NOI per unit is also in a high national percentile, based on commercial real estate analysis from WDSuite.
Livability signals are mixed but serviceable for workforce-oriented demand. Parks and open space are a local strength (91st percentile nationally) and childcare density is comparatively high (89th percentile), which can aid retention for family households. However, immediate retail and food options are limited within the neighborhood (very low counts for cafes, groceries, and pharmacies), so residents typically rely on broader Oxnard corridors for daily needs. Average school ratings trend around the national middle (about 3.0 out of 5; 61st percentile), which is generally aligned with stable family demand.
Tenure patterns point to a deep renter base. Within a 3-mile radius, approximately 47% of housing units are renter-occupied, supporting leasing depth for multifamily operators. Household counts in the same 3-mile area have edged up in recent years and are projected to grow further, with smaller household sizes expected; together, these dynamics can expand the renter pool and support occupancy management.
Vintage context matters for capital planning. The asset’s 1973 construction is older than the neighborhood’s average vintage (1987), which suggests ongoing system upgrades and interior modernization may unlock value-add potential while positioning the property competitively against newer stock.
Safety indicators compare favorably at the metro level and show mixed short-term trends. The neighborhood ranks 41 out of 172 within the metro, placing it among the safer quartile locally. Nationally, violent offense measures benchmark in a stronger percentile and have improved over the past year, while property offense measures remain comparatively favorable but saw a recent uptick. Investors should interpret these signals at the neighborhood scale rather than the property level and underwrite with standard security and lighting upgrades where appropriate.
Employment access is anchored by regional life sciences and corporate offices, supporting renter demand via commuter convenience and diversified job centers. Notable nearby employers include Amgen, Thermo Fisher Scientific, Farmers Insurance Exchange, Boston Scientific Neuromodulation, and AmerisourceBergen.
- Amgen — biotechnology (13.98 miles) — HQ
- Thermo Fisher Scientific — life sciences (30.92 miles)
- Farmers Insurance Exchange — insurance (32.03 miles) — HQ
- Boston Scientific Neuromodulation — medical devices (38.85 miles)
- AmerisourceBergen — pharmaceutical distribution (38.88 miles)
This 27-unit, 1973-vintage asset aligns with a submarket that demonstrates competitive neighborhood occupancy and high national percentiles for income performance. Older construction relative to local averages suggests clear value-add pathways through unit and system upgrades, while the surrounding 3-mile area’s renter concentration and steady household growth support a durable tenant base. According to CRE market data from WDSuite, neighborhood median rents trend in elevated national percentiles, reinforcing potential pricing power with disciplined revenue management.
Counterbalances include limited walkable retail within the immediate neighborhood and an older physical plant requiring thoughtful capex planning. Even so, strong parks and childcare access, diversified regional employers, and sustained renter demand provide a constructive backdrop for long-term operations.
- Competitive neighborhood occupancy supports income stability versus metro peers
- Elevated neighborhood rent benchmarks and high NOI per-unit percentiles indicate pricing power potential
- 1973 vintage offers value-add upside via renovations and system modernization
- 3-mile renter-occupied share and household growth expand tenant base and support lease-up
- Risks: older asset capex needs and limited immediate retail amenities; underwrite contingencies