601 Grand Avenue, Ojai, CA 93023

We are pleased to present the Grand East Oak Apartments, a 32-unit multifamily portfolio in the heart of Ojai, California. Spanning 2.75 acres across 601 Grand Avenue and 514516 E Oak Street, the offering represents one of the largest multifamily landholdings in the city, where new supply is virtually impossible to replicate. The scale, location, and nearly three acres of contiguous land make this a rare opportunity for an investor to become one of Ojai's largest private landowners.After more than six decades of family ownership, the properties are available for the first time since the 1960s, marking a generational opportunity in one of Southern California's most tightly held markets. The unit mix consists of 63% two-bedroom units and 34% one-bedroom units, with an average unit size of 772 SF. Current average rents of $1,890/unit ($2.45/SF) trail market averages of $2,503/unit ($3.24/SF), creating a 32% rental upside through natural turnover and light renovations. The property is … read more …