Institutional Property Advisors (IPA), a division of Marcus & Millichap, has listed for sale a two-property, 399-unit multifamily portfolio in Thousand Oaks, within Ventura County. The portfolio includes Los Robles Apartments, a 253-unit property built in 1972 and The Retreat at Thousand Oaks, a 146-unit apartment community constructed in 1966. These properties are approximately one mile apart and are offered for sale as individual assets or as part of the entire portfolio.
Kevin Green – IPA Executive Managing Director Investments based out of El Segundo – commented on this rare opportunity to acquire such sizeable footprint with strong future growth potential: “The properties represent 11% of the total market rate housing stock in Thousand Oaks offering investors 7%-8% upside via loss to lease capture along with attractive assumable non recourse interest only agency financing at 3.85%.”
