15
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$11,750,000
Est. payment /mo
1.19 Acres Lot
Price Dropped by $500K
450 Hill ST Oxnard, CA 93033
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-36962
HOA Y/N No
Year Built 1963
Lot Size 1.190 Acres
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.
Location
State CA
County Ventura
Area Vc33 - Oxnard - Southwest / Port Huenem
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Curbs, Suburban, Sidewalks
View Y/N No
View None
Total Parking Spaces 48
Private Pool No
Building
Lot Description Sprinklers None
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 2030112490
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Steven Golis Radius Group Commercial RE sgolis@radiusgroup.com, DRE #00772218
NEARBY SCHOOL & BUSINESS
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