Berkadia Completes $23M Sale of Thousand Oaks Apartments
Berkadia has announced the $23 million sale of YOLO East, a 45-unit multifamily property located at 1801 Los Feliz Dr. in Thousand Oaks, CA. The firm’s Managing Director Adrienne Barr completed the $502,000-per-unit sale on behalf of the seller, NUWI Capital, Inc. The buyer was not disclosed.
Built in 2019, the community is situated in the heart of Thousand Oaks and offers large, condo-quality units with a variety of one- and two-bedroom floor plans. The residences have high ceilings, gourmet kitchens, stainless steel appliances and large balconies/patios. Community amenities include a courtyard, BBQ area with seating and a large community room.
“Buyers were attracted to the quality design and new construction, in addition to the strong location and submarket fundamentals,” said Barr. “Thousand Oaks experienced rent growth of 9.8% year-over-year and the vacancy rate is currently 2.8%.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.