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Multifamily Community in Ventura County Goes for $92 Mil

5/05/20

The Artisan at East Village, a 272-unit garden-style multifamily property in Oxnard, sold for $92.25 mil ($339k/unit). Located at 2060 Zocolo St, the property is South of Hwy 101 and east of Rose Ave, off Gonzales Rd in Ventura County. It is only 10 minutes from Oxnard beaches and is ideally located between Santa Barbara and Los Angeles.

The unit mix at The Artisan at East Village includes one-, two- and three-bedroom layouts outfitted with comfortable features like quartz countertops, washer/dryers, personal balconies and more. Common amenities include on-site fitness center, game room, tot lot, business center and a pool area.

Joe Leon, Michael Thagard, Jim Fisher and Mike Smith with Berkadia represented the seller, Wisconsin-based Northwestern Mutual. The buyer was a California-based private capital investor.

“The property had over 35 tours and 20+ written offers from qualified buyers. This was in large part due to the exceptional quality of construction and the fact the property was offered below replacement costs,” said Fisher. New ownership will have a great opportunity to continue competing with the new Class “A” Oxnard rental supply through a light renovation program.”




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