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$ 11,750,000
Est. payment | /mo
35,816 SqFt
$ 11,750,000
Est. payment | /mo
35,816 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 35,816 sqft
Price per Sqft $328
MLS Listing ID 26-1958
Year Built 1963
Lot Size 1.190 Acres
Acres 0.56
Lot Dimensions 51835.0
Source Santa Barbara Multiple Listing Service
Property Description
450-508-516 W Hill Street 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 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.
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
Exterior
Parking Features Carport, Mixed
Building
Lot Description Near Public Transit
New Construction No
Others
Tax ID 203-0-112-480
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Listed by Radius Group Commercial R.E.
Schools and Properties Nearby
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