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88 N Oak St 2,257 SF Office Condo Unit Offered at $970,000 in Ventura, CA 93001
Investment Highlights
- Top 5 Largest Landscape Company in the West with 12 locations throughout the Western US. Featuring 18% growth since 2013
- Opportunity to acquire a design studio below replacement cost with desirable improvements and an opportunity to increase the cap rate
- Annual rental increases provide a steady hedge against inflation and a Net lease providing insulation against operating cost increases.
- Features a net rental rate of $31.44/SF creative design studio space specialized lighting, in a downtown Ventura location dose to amenities.
- Located just 20-miles northwest of Malibu in the Los Angeles MSA, which benefits from a population in excess of 800,000 residents
- Rare opportunity to secure a thoughtfully designed space filled with natural light, just minutes from downtown.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 7.28% |
| Sale Type | Investment |
| Cap Rate | 7.28% |
Sale Notes
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.
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.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1A | 2,257 SF | Office | $970,000 ($429.77/SF) | $70,616 |
Unit 1A
| Unit Size |
| 2,257 SF |
| Condo Use |
| Office |
| Price |
| $970,000 ($429.77/SF) |
| NOI |
| $70,616 |
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Unit 1A
| Unit Size | 2,257 SF |
| Condo Use | Office |
| Price | $970,000 ($429.77/SF) |
| NOI | $70,616 |
| Sale Type | Investment |
| Cap Rate | 7.28% |
| Sale Notes | |
| 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).<br> <br> 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.<br> <br> 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.</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 64,245 SF | Typical Floor Size | 18,845 SF |
| Property Type | Multifamily (Condo) | Year Built | 1936 |
| Property Subtype | Apartment | Lot Size | 0.63 AC |
| Building Class | C | Parking Ratio | 0.17/1,000 SF |
| Floors | 3 | ||
| Zoning | C2, Ventura - General Commercial | ||
| Total Building Size | 64,245 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 3 |
| Typical Floor Size | 18,845 SF |
| Year Built | 1936 |
| Lot Size | 0.63 AC |
| Parking Ratio | 0.17/1,000 SF |
| Zoning | C2, Ventura - General Commercial |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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88 N Oak St