693 Mccloud Ave - Apartments FOR SALE


Thousand Oaks, CA 91360- Outer Thousand Oaks
$26,300,000 USD
310-470-8963
693 Mccloud Ave, Thousand Oaks, CA for Sale
$26,300,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

693 Mccloud Ave
Thousand Oaks, CA 91360
Outer Thousand Oaks


HIGHLIGHTS

  • Rare Opportunity to Acquire Generational Property: First time on market in over 30 years
  • 89u in Phenomenal Thousand Oaks Location in Ventura County
  • Adj. to The Oaks Mall: 1.2M sf indoor/outdoor retail, dining, & entertainment destination
  • Tremendous Value-Add Opportunity: Approximately 58% rental upside ($1,049/unit)
  • Over Three Acres of Land: Highly amenitized property with potential for ADUs; Ample Parking with spaces for 160 vehicles
  • No City RC: Rent incr restr. applies to the property due to favorable TO rent stabilization program parameters (per RR, no move-ins in prior 1987)

OVERVIEW

Property Website: https://properties.berkadia.com/lynn-villa-apartments-474382 Lynn Villa Apartments is an 89-unit, garden-style apartment community located in the city of Thousand Oaks, California, surrounded by numerous dining, shopping, and entertainment attractions. Built in 1970, the property is comprised of five buildings surrounding a large courtyard area and community swimming pool. The five buildings consist of: the “A” building (48 units), the “B” building (20 units), the “C” building (8 units), the “D” building (12 units), and the leasing office building, which includes the leasing office, lobby/lounge area, and storage areas on the first floor and the manager’s unit on the second floor. Situated on over three acres of land, Lynn Villa Apartments features an ideal unit mix comprised of 6 studio units, 60 one-bedroom units ranging from 813-1,050 average square feet and 23 two-bedroom units averaging 1,128 square feet. The property offers sprawling grass areas, mature shade trees and tranquil walkways. Community amenities include: a sparkling swimming pool and spa, garage, 160 subterranean garage/carport/open parking spaces, tenant storage lockers, two spacious laundry rooms, community seating and grilling areas and multiple rooms to create an on-site fitness center, clubroom, and upgraded leasing office. There are multiple central water heaters for the property, as well as solar heating tanks. All units are separately metered for electricity and master-metered for gas.

FOR SALE DETAILS

PRICE

$26,300,000 USD

PRICE/SF

$311 USD /SF

# OF UNITS

89

PRICE/UNIT

$295,506

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

89u | Adj. to The Oaks Mall | Value Add

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

160

LAND DETAILS

LAND ACRES

3.01 AC

LAND SF

131,116 SF

ZONING

R3

APN/PARCEL ID

525-0-041-095

ASK ABOUT THIS PROPERTY

Adrienne BarrBerkadiaMore Info
310-470-8963

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Adrienne BarrBerkadiaMore Info
310-470-8963

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.