Oxnard Apartment Complex Sold for $22 Million

An Oxnard apartment complex on Channel Island Harbor has sold for more than $22 million, according to CoStar Group Inc. The 90-unit Paz Mar Select at 4200 Harbor Blvd. sold last month for about $22.3 million, or nearly $248,000 per unit, to Los Angeles’ Xenon Investment Corp. The seller was Prime Group. The property last sold in 2012 as part of a portfolio sale for about $166,000 per unit. Apartments are a mix of one- and two-bedroom units with many ocean and harbor views and the complex has a pool and spa, fitness center, clubhouse and tennis court, according to CoStar. It’s also within walking distance of Hollywood Beach. Ventura County owns the land, which was not part of the sale, and required that the new owners spend about $2.4 million on interior and exterior renovations to the 46-year-old complex, according to Robin Ossenbeck, a broker with Berkadia Real Estate Advisors, who with Vince Norris negotiated the deal on behalf of Prime.