48-Unit Multifamily Apartment
450 Hill Street Oxnard, CA 93033
450 Hill Street, Oxnard, CA, 93033
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For Sale
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48-unit apartment building offering 44 two-bedroom units and four one-bedroom units.
Property Size35,816 SF
Price / SF$342.03
Days on Market42
Property Features for 450 Hill Street
General Information
- Standard status
- Active
- Size
- 35,816 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing agency
Radius Commercial Real Estate & Investments
Listed by
Jack Gilbert · License #02197493
Source
Crexi
Added: Jun 12 Updated: Jul 22 at 2:12AM Checked: Jul 22 at 2:12AM
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 Real Estate & Investments
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.10M | $30.60 |
| − Vacancy | −$51.5k | −$1.44 |
| EGI | $1.04M | $29.16 |
| − OpEx | −$470.0k | −$13.12 |
| NOI | $574.5k | $16.04 |
35,816 SF · lease $30.60/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.21M
$7.18M – $9.57M
NOI $574,452 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.69M
$10.23M – $13.64M
NOI $818,238 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
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 Street Oxnard, CA.
What is the asking price?
The asking price for this property is $12,250,000.
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
