Northmarq’s Los Angeles office brokers $12.55 million sale of Hacienda Villas in Ventura, California

LOS ANGELES, CALIFORNIA (September 30, 2022) – Jeff Benson, managing director, and Sam Neumark, senior vice president of Northmarq’s Los Angeles investment sales office, secured the $12.55 million sale of Hacienda Villas. The 34-unit/2-story multifamily property is located at 10829 Del Norte Street, Ventura, California.

“The sellers completed their value-add business plan for the property over the last three-plus years and are planning to conduct a 1031 exchange with the proceeds. This property was a perfect fit for the Buyer’s acquisition criteria as he owns and operates multiple properties throughout the Ventura market,” said Benson.

Built In 1977, the garden style Hacienda Villas entails Spanish architecture with charming accents throughout. Situated in the highly active East Ventura, the property is within minutes of top-level school districts, shopping centers, and parks, featuring a walking path that outlines the complex. Each pet friendly unit highlights an original arched doorway between the kitchen and living room along with a private patio.

Community amenities include: Outdoor pool, spa, grill with picnic area, on-site property manager, on-site maintenance, community wide Wi-Fi, and renters insurance program. Apartment amenities include: Vinyl flooring, carpeted bedrooms, linen closet, patio, washer/dryer hookup, ceiling fans, storage space, and surface parking space.