Remodeled Duplex in Thousand
For Sale
Contact for pricing
1865 El Monte Dr, Thousand Oaks, CA 91362
High-end, remodeled two-unit compound in desirable Thousand Oaks neighborhood.
Property Size3,208 SF
Lot Size0.33 Acres
Price / SF$607.86
Days on Market474
Property Features for 1865 El Monte Dr
General Information
Standard status
Active
Size
3,208 SF
Total Parking Spaces
6
Lot size
0.33 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$92,600
Building Details
Year Renovated
2022
Units
6
Listing Agency:
KW Commercial Calabasas
Listed By:
Iris Rivas · License #01499523
Source:
Crexi
Added: Apr 26, 2025
Changed: Aug 8
Last Checked: Aug 11 at 1:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Calabasas
Investment Insights
Based on property information with market context.
Located in the desirable Thousand Oaks area, this recently remodeled duplex presents a fantastic opportunity for an owner-user or long-term investment. This SB9 conversion is a high-end two-unit compound surrounded by mature trees, nestled in the Old Meadow Oaks neighborhood. Situated on a lot just under one-third of an acre, the property offers 3,208 square feet of living space with two residential units, each featuring two bedrooms and two bathrooms. Each unit has private entrances, assigned parking, access to manicured backyards, and storage units. The bright and open concept spaces include chef's kitchens, equipped with high-end appliances, farmhouse sinks, large islands with breakfast bars, and custom cabinetry and finishes. The rear unit benefits from an additional 320 square foot auxiliary studio or office space. The property is located within minutes of Conejo Creek North Park and various bike and hiking trails.
Key Highlights
- Two recently remodeled, high‑end residential units (2 bed/2 bath each) on a large lot.
- SB9 conversion in a desirable Thousand Oaks location (Old Meadow Oaks).
- Each unit has private entrances, assigned parking, and access to a manicured backyard.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,074
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,101,480
$1.1M
Cap Rate 7%
$786,771
$786.8K
Cap Rate 9%
$611,933
$611.9K
Market Conditions
NOI Build-Up for 3,208 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.8K $25.80/SF
− Vacancy
−$4.1K −$1.27/SF
EGI
$78.7K $24.53/SF
− OpEx
−$23.6K −$7.36/SF
NOI
$55.1K $17.17/SF
Area
Thousand Oaks, CA
Vacancy
4.94%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,101,480
Cap Rate 7%
$786,771
Cap Rate 9%
$611,933
Alternative Uses
Best Use
Multifamily LT 5
$786.8K
$688.4K – $917.9K
NOI $55,074 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$725.5K
$634.8K – $846.4K
NOI $50,782 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,991 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 91362, CA
35,803
Population
14,456
Households
2.5
Avg Household Size
46
Median Age
56%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,884
Density / Sq Mi
$143,683
Median Household Income
$64,921
Median Earnings
$2,735
Median Rent
$1,078,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - High-end, remodeled two-unit compound in desirable Thousand Oaks neighborhood.
Where is this duplex located?
The property is located at 1865 El Monte Dr Thousand Oaks, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two recently remodeled, high‑end residential units (2 bed/2 bath each) on a large lot.; SB9 conversion in a desirable Thousand Oaks location (Old Meadow Oaks).; Each unit has private entrances, assigned parking, and access to a manicured backyard.
