LOS ANGELES –– Berkadia announced today the sale of YOLO East, a 45-unit multifamily property located in Thousand Oaks, California. Managing Director Adrienne Barr of Berkadia Los Angeles completed the $22.6 million sale on behalf of the seller, California-based NUWI Capital, Inc.
“Buyers were attracted to the quality design and new construction, in addition to the strong Thousand Oaks location and submarket fundamentals,” said Barr. “Thousand Oaks experienced rent growth of 9.8 percent year-over-year and the vacancy rate in the submarket is currently 2.8 percent.”
Located at 1801 Los Feliz Drive, YOLO East sold for $22.6 million, which equates to $502,222 per unit, $511 per square foot and a 3.9 percent cap based on the in-place rent roll. Built in 2019, the 45-unit luxury apartment community is situated in the heart of Thousand Oaks with beautiful views of the Santa Monica mountains. The property offers large, condo-quality apartments with a variety of one- and two-bedroom floorplans, ranging in size between 748-1,219 square feet. Units are spacious and bright and feature high ceilings, great rooms, gourmet kitchens with quartz countertops, stainless steel appliances, in-unit full-sized washers and dryers and large balconies and/or patios. The community also features a courtyard gathering area, a barbecue area with seating, a sparkling pool and large community room. Residents can walk to the Thousand Oaks Civic Arts Plaza and are afforded convenient access to a wide variety of dining, shopping and entertainment options near Route 101.
About Berkadia®:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our client’s assets.
