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88 N Oak St
Ventura, CA 93001 Downtown Ventura

$970,000 USD

Apartments Condo For Sale  •  2,257 SF

Property Details

  • Property Type Apartments
  • Total Building Size 64,245 SF
  • Lot Size 0.63 AC
  • Building Class C
  • Year Built 1936
  • Zoning C2, Ventura
50 Transit Score
60 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 1A Office 2,257 SF $970,000 USD
  • Unit Size: 2,257 SF
  • Condo Use: Office
  • Price: $970,000 USD
  • Sale Type: Investment
  • Price/SF: $429.77 USD
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.

Highlights

Top 5 Largest Landscape Company in the West with 12 locations throughout the Western US. Featuring 18% growth since 2013
Features a net rental rate of $31.44/SF creative design studio space specialized lighting, in a downtown Ventura location dose to amenities.
Opportunity to acquire a design studio below replacement cost with desirable improvements and an opportunity to increase the cap rate
Located just 20-miles northwest of Malibu in the Los Angeles MSA, which benefits from a population in excess of 800,000 residents
Annual rental increases provide a steady hedge against inflation and a Net lease providing insulation against operating cost increases.
Rare opportunity to secure a thoughtfully designed space filled with natural light, just minutes from downtown.

Property Flyers

Amenities

  • Fireplace

Public Transportation

Commuter RailDriveWalkDistance
4 min 13 min 0.7 mi
10 min - 6.6 mi
AirportDriveWalkDistance
Santa Barbara Municipal 60 min - 39.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 20
Type: Surface
Included in Rent: Yes
Shaun Bieniek 805-304-9533 IPA Commercial
Shaun Bieniek 805-304-9533 IPA Commercial