Ojai | 32 Unit Portfolio
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The LAAA Team is pleased to announce the closing of the Grand East Oak Portfolio, a 32-unit value-add multifamily property located in Ojai, California.
The transaction closed at $8,250,000 following a comprehensive marketing and diligence process. Throughout the sale, our team worked closely with ownership to manage the transaction carefully and close in a challenging capital markets environment.
The Asset
The Grand East Oak Portfolio consists of two adjacent apartment properties totaling approximately 2.75 acres, originally constructed in 1963 and 1965. The properties had been held by the original builder’s family for more than 60 years, making this a rare first-time sale of a legacy asset that had not traded in decades.
Given the long-term ownership profile, the portfolio offered a clear opportunity for both operational and physical upside, along with a level of scale that is uncommon in the Ojai submarket. With limited transaction volume and high barriers to entry, assets of this size rarely come to market.
The LAAA Team is pleased to announce the closing of the Grand East Oak Portfolio, a 32-unit value-add multifamily property located in Ojai, California.
The transaction closed at $8,250,000 following a comprehensive marketing and diligence process. Throughout the sale, our team worked closely with ownership to manage the transaction carefully and close in a challenging capital markets environment.
The Asset
The Grand East Oak Portfolio consists of two adjacent apartment properties totaling approximately 2.75 acres, originally constructed in 1963 and 1965. The properties had been held by the original builder’s family for more than 60 years, making this a rare first-time sale of a legacy asset that had not traded in decades.
