Properties | Capistrano

Capistrano

44-Unit Apartment Community

180 Ripley St | Camarillo, CA

Sales Price: Private

Seller: N/A

Buyer: N/A

Units: 44

Price per Unit: N/A

Price per Sq. Ft.: N/A

Year Built: 1972

Lot Size Sq. Ft.: 106,286

Net Rentable Sq. Ft.: 43,700

On Market Date: 7/7/16

Close of Escrow: 11/10/16

The Harris Group, as the exclusive listing agent, is pleased to announce the sale of Capistrano, a 44-unit multifamily apartment building located in  the affluent city of Camarillo in Ventura County. Built in 1972, Capistrano offers investors the opportunity to acquire a well located asset with a comprehensive value-add investment opportunity in Ventura County. Comprised of two buildings, the low density garden style community is located on approximately 2.44 acres and situated in close proximity to major retail centers and accessible via the 101 freeway. 

The asset offers two spacious floorplans, ranging from 850 to 1,270 square feet consisting of 29 - 1 bedroom and 15 - 2 bedroom apartment homes. The property features an impressive amenity package that includes a swimming pool, manicured dog run, on-site laundry facility, covered parking and a leasing office

Capistrano provides an investor with a unique opportunity to an asset in Camarillo on a free and clear basis, that via a comprehensive renovation plan, can result in an increase in rental income of over 20%.

  • Short Distance from the Famous Camarillo Premium Outlets, Restaurants and Recreation Options
  • Property is Amenitized with a Swimming Pool, Manicured Dog Run, Covered Parking and a Leasing Office
  • Attractive Unit Mix - Features 29 - 1 Bedrooms Units, 15 - 2 Bedroom Units
  • Property Features Spacious Floor Plans that Average 993 Square Feet
  • Ability to Complete a Comprehensive Renovation to Unit Interiors and Common Areas
  • Opportunity to Capture Significant Rental Upside (Projected 20.14%) via a Renovation Program that Includes Upgrading Interior Units with Stainless Steel Appliances, New Cabinet Faces, Hard Surface Countertops, Plank Flooring and Modern Lighting
  • Reposition Common Areas with Modern Signage/Fixtures, New Paint Scheme, Upgraded Pool Furniture, and Improved Common Area Amenities
  • Offered on a Free & Clear Basis - Allows an Investor to Take Advantage of Higher Available Leverage and Historically Low Interest Rates