N E Kelley Road
Thousand Oaks, CA 91320
Newbury Oaks Development · Land For Sale · 12.70 AC

Newbury Oaks is a generational asset representing a once in a lifetime development opportunity in a marquis suburban market. Thousand Oaks has seen very limited multifamily development in the past two decades as the city predominately consists of single-family homes. This affluent suburban enclave with an average household income of approximately $130,000, median home value of $830,540 and an average apartment occupancy of 95.9% represents a prime destination for multifamily development as only 173 units have been delivered in the past 10 years. As current state initiatives and the city’s general plan update continues to evolve to prioritize housing development, this 12.69-acre parcel provides investors with an unparalleled opportunity to develop this land into primely located residential apartments. The property has been held by the current ownership since the 1960s. Immediately to the north of Newbury Oaks residents are conveniently provided access to department stores, grocery stores, urgent care medical, and dine-in and quick service restaurants. The balance of the Newbury Oaks site is surrounded by an established, single-family residential neighborhood. Newbury Thousand Oaks is an excellent low density, large scale development candidate with outmatched potential.