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Listed by Steven Golis, DRE #00772218 • Radius Group Commercial RE
$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 Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-36962
Year Built 1963
Lot Size 1.190 Acres
Source California Regional MLS
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
Area Vc33 - Oxnard - Southwest / Port Huenem
Interior
Heating Wall Furnace
Cooling None
Laundry None
Exterior
Garage Spaces 48.0
Pool 31, None
View None
Others
Tax ID 2030112490
Special Listing Condition Not Applicable
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