Berkadia facilitated the $27.4 million sale and $17.5 million financing of Lynn Villa Apartments in Thousand Oaks, California, highlighting its value-add potential amidst a growing multifamily market.

Information on the Target

Lynn Villa Apartments is an 89-unit, garden-style multifamily property located in Thousand Oaks, California. The property was constructed in 1970 and spans over three acres of land. Its amenities include a swimming pool, spa, leasing office, and several additional rooms which can be redeveloped into a clubroom and fitness center. Recently, the property attracted significant investor interest due to its low in-place rents and potential for value enhancement.

Situated at 693 McCloud Avenue, Lynn Villa Apartments benefits from its proximity to The Oaks Mall, which recently underwent a sale and is set for revitalization. This development is expected to enhance the area's overall attractiveness and increase the demand for housing, thereby positively impacting the value of the property.

Industry Overview in California

The multifamily housing sector in California has been experiencing vibrant growth, driven by increased demand for rental properties in urban areas. The state's population continues to expand, leading to a greater