450 Hill Street, Oxnard, CA 93033
- $11,750,000
- List Price
- $11,750,000
- Price Change
- ▼ $500,000 1784242177
- Status
- ACTIVE
- MLS#
- V1-36962
- Year Built
- 1963
- Lot Size
- 51,835
- Acres
- 1.19
- Lot Location
- Sprinklers None
- Days on Market
- 48
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- Not Applicable
Property Description
450-508-516 W HILL ST presents a rare opportunity to acquire a 48-unit multifamily asset in one of Oxnard's most consistently sought-after rental markets. The property features an ideal workforce/family housing unit mix of 44 two-bedroom/one-bath units and 4 one-bedroom/one-bath units, a configuration that continues to experience strong tenant demand. Under long-term ownership, the property has maintained historically strong occupancy and stable operations. The asset currently operates at a 6.31% cap rate and 9.25 GRM based on in-place income, providing investors with immediate cash flow and proven performance. As rents continue to be adjusted toward market levels, the property offers the potential to achieve a 7.25% cap rate and 8.28 GRM, highlighting a clear path to additional income growth.Supported by strong rental demand, limited vacancy, and a durable tenant base, the property offers the scale and stability sought by multifamily investors. Opportunities to acquire a 48-unit asset of this size and quality in Oxnard are increasingly rare, making 450-508-516 W Hill Street a compelling investment opportunity with both current cash flow and future upside.
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Additional Information
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Attached Structure
- Attached
- Gross Scheduled Income
- $1,269,984
- Operating Expense
- 470529
- Levels
- Two
- Parking Spaces
- 48
Listing courtesy of Listing Agent: Steven Golis (sgolis@radiusgroup.com) from Listing Office: Radius Group Commercial RE.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.