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Wednesday, Nov 29, 2023

Thousand Oaks Apartments Fetch $23 Million

YOLO East, a 45-unit multifamily property located in Thousand Oaks, has sold for $22.6 million, or $502,222 per unit.

Berkadia Los Angeles Managing Director Adrienne Barr completed the sale on behalf of the seller, Santa Monica-based NUWI Capital Inc.

“Buyers were attracted to the quality design and new construction, in addition to the strong Thousand Oaks location and submarket fundamentals,” Barr said in a statement. “Thousand Oaks experienced rent growth of 9.8% year-over-year and the vacancy rate in the submarket is currently 2.8%.”

The property, which is located at 1801 Los Feliz Drive, sold for $511 per square foot.

YOLO East was built in 2019. The luxury apartment community is situated in the heart of Thousand Oaks with views of the Santa Monica mountains. The property offers large units with a variety of one- and two-bedroom floorplans ranging in size between 748-1,219 square feet. Units feature high ceilings, gourmet kitchens with quartz countertops, stainless steel appliances, in-unit washers and dryers and large balconies and patios.

Building amenities include a courtyard gathering area, barbecue with seating, pool and a large community room. The property is within walking distance of the Thousand Oaks Civic Arts Plaza and near a wide variety of dining, shopping and entertainment options near the 101 freeway.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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