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$ 12,250,000
Est. payment /mo
New
450 Hill Street Oxnard, CA 93033
2 Beds
1 Bath
1.19 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-36962
Bedrooms 2
Lot Size 1.190 Acres
Property Sub-Type Res Income 2-4 Units
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 6.01% cap rate and 9.65 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 6.90% cap rate and 8.64 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
Zoning Public Rec
Direction Head south on Rice AvenueTurn left onto W. Wooley RoadTurn right onto S. A StreetTurn left onto Hill Street450 Hill Street will
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 2030112490
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Steven Golis, DRE#00772218 Radius Group Commercial RE
NEARBY SCHOOL & BUSINESS