450 Hill ST, Oxnard, CA 93033
450 Hill ST, Oxnard, CA 93033
450 Hill ST, Oxnard, CA 93033
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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660
Listed by Steven Golis, DRE #00772218 • Radius Group Commercial RE
$11,750,000
Est. payment /mo
1.19 Acres Lot
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Key Details

Property Type Multi-Family

Listing Status Pending

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 6.31% 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

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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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660

Agent DRE01254724 / 01254725

Agent DRE01254724 / 01254725

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