48-Unit Multifamily Apartment
For Sale
$11,750,000
Pending
450 Hill St, Oxnard, CA 93033
48-unit apartment building offering 44 two-bedroom units and four one-bedroom units.
Property Size51,835 SF
Days on Market145
Property Features for 450 Hill St
General Information
Standard status
Pending
Size
51,835 SF
Property subtype
Multi-Family
Building Details
Year Built
1963
Listing Agency:
Radius Commercial RE
Listed By:
Steve Golis · License #00772218
(805) 879-9606
Source:
Santaynezvalleyhomesforsale
Added: May 31
Changed: Oct 4
Last Checked: Oct 20 at 10:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Radius Commercial RE
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Investment Insights
Based on property information with market context.
This 48-unit multifamily apartment building is configured with 44 two-bedroom, one-bath units and 4 one-bedroom, one-bath units. The property is operated as a residential income asset under long-term ownership.
The building is located at 450-508-516 W Hill St in Oxnard, CA 93033.
The in-place financial performance referenced in the remarks includes a 6.01% cap rate and 9.65 GRM. The remarks also state an anticipated path to a 6.90% cap rate and 8.64 GRM based on rents adjusting toward market levels.
The building is located at 450-508-516 W Hill St in Oxnard, CA 93033.
The in-place financial performance referenced in the remarks includes a 6.01% cap rate and 9.65 GRM. The remarks also state an anticipated path to a 6.90% cap rate and 8.64 GRM based on rents adjusting toward market levels.
Key Highlights
- 48‑unit multifamily property built in 1963
- Unit mix includes 44 two‑bedroom/one‑bath units and 4 one‑bedroom/one‑bath units
- Currently operating at a 6.01% cap rate and 9.65 GRM based on in‑place income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$831,381
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,627,620
$16.6M
Cap Rate 7%
$11,876,871
$11.9M
Cap Rate 9%
$9,237,567
$9.2M
Market Conditions
NOI Build-Up for 51,835 SF
Gross rent
$1.59M $30.60/SF
− Vacancy
−$74.5K −$1.44/SF
EGI
$1.51M $29.16/SF
− OpEx
−$680.2K −$13.12/SF
NOI
$831.4K $16.04/SF
Area
Oxnard, CA
Vacancy
4.70%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,627,620
Cap Rate 7%
$11,876,871
Cap Rate 9%
$9,237,567
Alternative Uses
Best Use
Apartment 5plus
$11.88M
$10.39M – $13.86M
NOI $831,381 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.92M
$14.80M – $19.74M
NOI $1,184,202 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
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Business Placement
Demographics for 93033, CA
79,539
Population
17,523
Households
4.5
Avg Household Size
32
Median Age
11%
College-Educated
57%
High-School Grad
32.2 sq mi
ZIP Area
2,470
Density / Sq Mi
$85,848
Median Household Income
$32,675
Median Earnings
$1,810
Median Rent
$549,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 48-unit apartment building offering 44 two-bedroom units and four one-bedroom units.
Where is this apartment building located?
The property is located at 450 Hill St Oxnard, CA.
What is the asking price?
The asking price for this property is $11,750,000.
What are key features of this property?
This property features: 48‑unit multifamily property built in 1963; Unit mix includes 44 two‑bedroom/one‑bath units and 4 one‑bedroom/one‑bath units; Currently operating at a 6.01% cap rate and 9.65 GRM based on in‑place income
