Properties | The Villas and Overlook at Woodranch

The Villas and Overlook at Woodranch

504-Unit Apartment Portfolio

241 & 849 Country Club Dr | Simi Valley, CA

Sales Price: $141,100,000

Units: 504

Price per Unit: $280,556

Price per Sq. Ft.: $216.83

Current CAP: 4.50%

Current GRM: 13.57

Market CAP: 5.73%

Market GRM: 11.69

Year Built: 1986

Lot Size Sq. Ft.: 1,008,414

Net Rentable Sq. Ft.: 408,240

On Market Date: 1/24/17

The Harris Group, as the exclusive listing agent, is pleased to present the opportunity to acquire The Villas and Overlook at Woodranch, a 504-unit two property multifamily portfolio located in Simi Valley, CA in Ventura County. The Villas at Woodranch was built in 1986 and is comprised of 372 units, totaling 301,320 net rentable square feet. Overlook at Woodranch was built in 1986 and is comprised of 132 units totaling 106,920 net rentable square feet. The offering presents a rare opportunity to acquire a sizeable footprint in a sought after locale coupled with a comprehensive value-add business plan. The properties, which are located 0.8 miles from each other, are being offered for sale on an individual or portfolio basis.

Located in a prominent location within the prestigious neighborhood of Woodranch in Simi Valley in Southern California, The Villas and Overlook at Woodranch benefit from excellent submarket fundamentals. The city boasts a strong public school ratings (average API score 844). Furthermore, the Woodranch neighborhood has an average household income of $154,836. Additionally, the city’s proximity to major employment along the 101 and 118 corridors will continue to attract growth and economic prosperity in the coming years. Given the strong submarket fundamentals, investors have the ability to complete a comprehensive renovation in a market where there is significant affordability gap to home ownership and a scarcity of new supply.

  • Sizeable Assets (Totalling 504 Units) in Simi Valley, CA in Ventura County
  • Portfolio COmbined is the Largest Multifamily Asset in the City of Simi
  • Located in a Prominent Gateway Location in Southern California
  • High Demand for Luxury Living - Households are Priced Out of Home Ownership Due to 124.34% Affordability Gap
  • Serviced by Highly Rated Schools - Average API 844
  • Ranked as One of the 50 Safest Cities in California for 2016 by Safewise (#44)
  • The Villas & Overlook at Woodranch Residents Benefit from Close Proximity to Three Major Freeways (118, 23, 101) That Enables Swift Access to Local Employers as Well as Regional Employment Hubs
  • Simi Valley was Named the "Best City to Work In" According to a Poll of Los Angeles News Group Readers in 2015