88 N Oak St - Apartments CONDO FOR SALE


Ventura, CA 93001- Downtown Ventura
$885,000 USD
805-304-9533
88 N Oak St, Ventura, CA for Sale
$885,000 USD
Apartments CONDO - FOR SALE
1/6
null | 8% Cap Rate

88 N Oak St
Ventura, CA 93001
Downtown Ventura


HIGHLIGHTS

  • Top 5 Largest Landscape Company in the West with 12 locations throughout the Western US. Featuring 18% growth since 2013
  • Features a net rental rate of $31.44/SF creative design studio space specialized lighting, in a downtown Ventura location dose to amenities.
  • Opportunity to acquire a design studio below replacement cost with desirable improvements and an opportunity to increase the cap rate
  • Located just 20-miles northwest of Malibu in the Los Angeles MSA, which benefits from a population in excess of 800,000 residents
  • Annual rental increases provide a steady hedge against inflation and a Net lease providing insulation against operating cost increases.
  • Rare opportunity to secure a thoughtfully designed space filled with natural light, just minutes from downtown.

OVERVIEW

The Property consists of approximately 2,257 SF of design studio space located in Ventura, CA, just 40-miles northwest of Santa Monica/Los Angeles. The city of Ventura is the county seat of Ventura County, has a population of 843,843 residents, and borders Los Angeles County. The region ranks as one of the top investment markets in the country, boasting a median household income of nearly $90,000. Ventura itself is home to over 110,000 residents, and is included as part of the Los Angeles metropolitan statistical area (MSA). Landscape Development, Inc. delivers fully integrated landscape solutions that bring peace of mind to builders, property owners, and communities. With construction, maintenance, arbor care, and landscape architecture under one umbrella, bringing reliability, expertise, and excellence to every stage of the outdoor environment. Landscape Development, Inc. - an integrated site and landscape services company based in Valencia, California - has reported annual revenues in the range of $100-$500 million according to industry analysis. Upon closing of the transaction, the selected purchaser will assume the existing 2.75-year lease with Landscape Development, Inc. The lease is structured as Net Lease, with the Landlord only responsible for liability insurance, features 3.00% annual rental increases, and Tenant who's been at the building since 2016.

FOR SALE DETAILS

PRICE

$885,000 USD

PRICE/SF

$392 USD /SF

CAP RATE

8%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

64,245 SF

STORIES

3

BUILDING CLASS

C

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,251 SF

ZONING

C2, Ventura

APN/PARCEL ID

073-0-360-045,073-0-360-055,073-0-360-065,073-0-360-125,073-0-360-135,073-0-360-145,073-0-360-155,073-0-360-165,073-0-360-185,073-0-360-195,073-0-360-205,073-0-360-215,073-0-360-225,073-0-360-235,073-0-360-245,073-0-360-255,073-0-360-265,073-0-360-275,073-0-360-285,073-0-360-295,073-0-360-305,073-0-360-315,073-0-360-325,073-0-360-335,073-0-360-345,073-0-360-355,073-0-360-365,073-0-360-375,073-0-360-385,073-0-360-395,073-0-360-405,073-0-360-415,073-0-360-425

ASK ABOUT THIS PROPERTY

Shaun BieniekIPA CommercialMore Info
805-304-9533

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Shaun BieniekIPA CommercialMore Info
805-304-9533

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