20-Unit Apartment
New
For Sale
Contact for pricing
1690 E Hillcrest Drive, Thousand Oaks, CA 91362
Multifamily property with varied floor plans, renovated interiors, onsite laundry, parking, and separately metered electricity.
Property Size14,665 SF
Price / SF$439.82
Days on Market6
Property Features for 1690 E Hillcrest Drive
General Information
Standard status
Active
Size
14,665 SF
Property subtype
Multifamily
Zoning
Assessor
Occupancy
85%
Investment Type
Value Add
Net Operating Income
$341,993
Units
Unit Mix
6 x 2BD/1BA, 13 x 1BD/1BA, 1 x 3BD/2BA
Multifamily Units
20
Amenities
onsite laundry facility
Building Details
Year Built
1963
Buildings
1
Stories
2
Units
20
Tenancy
Multi
Listing Agency:
Beachside Partners
(805) 626-0112
Listed By:
Nick Henry · License #01748131
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 15 at 4:12AM
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 Beachside Partners
Investment Insights
Based on property information with market context.
Oak Manor Apartments is a 20-unit multifamily property at 1690 E Hillcrest Drive in Thousand Oaks, California. The 14,665-square-foot complex was built in 1963 and includes six 2BD/1BA units, 13 1BD/1BA units, and one 3BD/2BA unit. Building improvements include dual-pane windows, copper plumbing, updated exterior paint, and refreshed second-story walkways.
Approximately six apartments feature renovated interiors with updated cabinetry, quartz countertops, stainless steel sinks, luxury vinyl plank flooring, upgraded electrical subpanels, and split-system HVAC. Electricity is separately metered by unit, while two water heaters are supported by solar panels. Additional property features include an onsite laundry facility operated under a month-to-month equipment agreement, tuck-under and open parking, and maintained common areas. Three units are scheduled for vacant delivery. The property is near North Ranch Shopping Center, Oaks Corporate Center, Colina Middle School, and Oaks Christian School.
Approximately six apartments feature renovated interiors with updated cabinetry, quartz countertops, stainless steel sinks, luxury vinyl plank flooring, upgraded electrical subpanels, and split-system HVAC. Electricity is separately metered by unit, while two water heaters are supported by solar panels. Additional property features include an onsite laundry facility operated under a month-to-month equipment agreement, tuck-under and open parking, and maintained common areas. Three units are scheduled for vacant delivery. The property is near North Ranch Shopping Center, Oaks Corporate Center, Colina Middle School, and Oaks Christian School.
Key Highlights
- 20‑unit apartment complex with 14,665 SF of building area
- Unit mix includes 6 2BD/1BA, 13 1BD/1BA, and 1 3BD/2BA apartments
- Approximately six units renovated with contemporary finishes and split‑system HVAC
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
$232,143
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
3.60%
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%
$4,642,860
$4.6M
Cap Rate 7%
$3,316,329
$3.3M
Cap Rate 9%
$2,579,367
$2.6M
Market Conditions
NOI Build-Up for 14,665 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
$445.2K $30.36/SF
− Vacancy
−$23.2K −$1.58/SF
EGI
$422.1K $28.78/SF
− OpEx
−$189.9K −$12.95/SF
NOI
$232.1K $15.83/SF
Area
Thousand Oaks, CA
Vacancy
5.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$4,642,860
Cap Rate 7%
$3,316,329
Cap Rate 9%
$2,579,367
Alternative Uses
Best Use
Apartment 5plus
$3.32M
$2.90M – $3.87M
NOI $232,143 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.75M
$5.03M – $6.70M
NOI $402,240 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,008
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied floor plans, renovated interiors, onsite laundry, parking, and separately metered electricity.
Where is this apartment building located?
The property is located at 1690 E Hillcrest Drive Thousand Oaks, CA.
What is the asking price?
The asking price for this property is $6,450,000.
What are key features of this property?
This property features: 20‑unit apartment complex with 14,665 SF of building area; Unit mix includes 6 2BD/1BA, 13 1BD/1BA, and 1 3BD/2BA apartments; Approximately six units renovated with contemporary finishes and split‑system HVAC
