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Listed by Nick Henry • Beachside Partners
$ 6,450,000
Est. payment /mo
Active
1690 East Hillcrest Drive Thousand Oaks, CA 91362
14,665 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,665 sqft
Price per Sqft $439
Subdivision Hillcrest Terrace-570
MLS Listing ID V1-38160
Year Built 1963
Lot Size 0.632 Acres
Source California Regional Multiple Listing Service (CRMLS)
Property Description
1690 E Hillcrest Dr, 'Oak Manor Apartments,' is a wellmaintained 20-unit apartment complex in the highly desirable, low turnover sale marketplace of Thousand Oaks. Built in 1963,
the property offers a diverse unit mix of (6) 2BD/1BA units, (13)1BD/1BA units and (1) spacious 3BD/2BA unit. Improvements
of note include dual-pane windows, copper plumbing, newer exterior paint and recent upgrades to exterior 2nd story walkways. Approximately six units have been renovated with contemporary finishes, featuring updated cabinetry, quartz countertops, stainless steel sinks, luxury vinyl plank flooring,
upgraded electrical subpanels, and split system HVAC systems. Each unit is separately metered for electricity and there are two
water heaters that draw power from solar panels to help offset utility costs. Additional amenities include an onsite laundry
facility with leased equipment on mo/mo agreement, tuck-under and open parking, and well-maintained common areas. Three
units to be delivered vacant, providing an immediate value-add opportunity for a new owner to lease the units at market rents.
Ideally situated near major employment centers, shopping, dining, and highly regarded schools including North Ranch Shopping
Center, Oaks Corporate Center, Colina Middle School, and Oaks Christian School. Oak Manor Apartments is well positioned to benefit from the continued strength of the Thousand Oaks
multifamily market. Combining a desirable location, significant recent capital improvements, and meaningful upside through new lease-up the property represents a rare multifamily investment opportunity for the city of Thousand Oaks
the property offers a diverse unit mix of (6) 2BD/1BA units, (13)1BD/1BA units and (1) spacious 3BD/2BA unit. Improvements
of note include dual-pane windows, copper plumbing, newer exterior paint and recent upgrades to exterior 2nd story walkways. Approximately six units have been renovated with contemporary finishes, featuring updated cabinetry, quartz countertops, stainless steel sinks, luxury vinyl plank flooring,
upgraded electrical subpanels, and split system HVAC systems. Each unit is separately metered for electricity and there are two
water heaters that draw power from solar panels to help offset utility costs. Additional amenities include an onsite laundry
facility with leased equipment on mo/mo agreement, tuck-under and open parking, and well-maintained common areas. Three
units to be delivered vacant, providing an immediate value-add opportunity for a new owner to lease the units at market rents.
Ideally situated near major employment centers, shopping, dining, and highly regarded schools including North Ranch Shopping
Center, Oaks Corporate Center, Colina Middle School, and Oaks Christian School. Oak Manor Apartments is well positioned to benefit from the continued strength of the Thousand Oaks
multifamily market. Combining a desirable location, significant recent capital improvements, and meaningful upside through new lease-up the property represents a rare multifamily investment opportunity for the city of Thousand Oaks
Location
State CA
County Ventura
Area Toe - Thousand Oaks East
Interior
Fireplaces Type None
Laundry Individual Room
Exterior
Parking Features Uncovered
Pool None
Community Features Biking
View Y/N No
View None
Building
Lot Description Sprinklers None
Nearby Locations