12/12/2007

Hendricks & Partners sells California multi-family for $13.35M

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Villa Valley Apartments

A joint venture between Klump Apartment Investors, LLC and Beverly Hills, Calif.-based Villa Valley Apartment Investors, LLC has purchased the Villa Valley Apartments in Oxnard for $13.35 million from Woodland Hills-based Villa Valley Properties II, LLC.

Steve Bryant of Hendricks & Partners' Newport Beach office represented the buyer in the transaction.

The apartment complex contains 84 one- and two-bedroom units and is located at 4740-4940 South Rose Ave. The joint venture plans to invest in capital improvements to the property, which was built in 1974 and fully renovated in 2004.

Oxnard, located approximately 40 miles south of Santa Barbara, is home to U.S. Naval Bases Port Hueneme and Point Mugu.

Address: 4740-4940 South Rose Ave., Oxnard, Calif.

Size: 84 units

Built: 1974

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Filed Under: Multi-Family

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