1343 N 7th ST Port Hueneme, CA 93041

Great investment opportunity for this 4BD/3.5BA spacious Port Hueneme rental property with a 5 year history of being a successful vacation rental property. Originally a 1959 built 3BD/2BA the property was then updated in 2007 with a permitted approximately 800SF 2-story 1BD/1.5BA, currently used as separate living quarters. The property is being using as a legal short term rental for the 1 bedroom back unit (has averaged $2154/Mo over 2019, 2020) and front unit has a tenant vacating July 31st. The house is centrally located in Port Hueneme close to the Naval Base, beach, local schools, and the PCH. There is a 2-car garage, manicured yard, and a back patio for entertaining. Many possibilities for a new owner. Assuming a market rental rate of $3300 for the soon to be vacant 3 bedroom portion plus $2154/Mo for the 1 bedroom comes to a 5.1% CAP Rate. Assuming property fully utilized as vacation rentals at a potential rate of $8,000/Mo on average comes to a 7.5% CAP rate.