A Sale Against the Current

Monte Vista Townhomes was brought to market in mid-January with a call for offers on February 3. It met a market that is anything but easy: transaction volume across the region sits near multi-year lows, debt is expensive, and interest rates — already elevated — continued to rise while the deal was in escrow. Even against that backdrop, the offering produced four individual offers from local private investors and institutional groups, and the structured process gave the estate’s fiduciary a clear, defensible record of market value.

“No one should mistake this for a strong market. Volume is thin, rates are up — and they kept climbing during our escrow. Sales like this one get done with a disciplined process, a realistic seller, and a committed buyer, and we had all three.”
—Steve Golis · Radius Commercial Real Estate

The Numbers

At $12,325,000, the sale equates to $237,019 per unit and approximately $282 per square foot of building area. On current in-place operations, the price reflects a 5.78% cap rate and a 9.77 gross rent multiplier, with in-place net operating income of roughly $713,000. In-place rents average about 8% below prevailing market levels, giving the new ownership immediate, realizable upside through natural turnover, and the community was approximately 98% occupied when marketing launched.

“In a slow market, buyers need real day-one yield. At $237,000 per unit and a 5.78% going-in cap rate on current income — with rents roughly 8% below market — this was a clean basis in a supply-constrained submarket.”
—Jack Gilbert · Radius Commercial Real Estate

The Property

Built in 1972 on approximately 1.59 acres across two parcels, Monte Vista Townhomes comprises 23 one-bedroom/one-bath, 17 two-bedroom/one-bath, and 12 two-bedroom/1.5-bath townhome-style residences totaling approximately 43,650 square feet. The gated community features a swimming pool, BBQ and picnic areas, on-site laundry, 58 parking spaces, and a landscaped walking path. Thirty-seven of the 52 units have been renovated since 2020 — vinyl-plank flooring, quartz countertops, and updated appliance packages — leaving a proven renovation playbook in place for the balance of the units.

Why Ventura

The property sits in Ventura’s East End near the Highway 126/101 interchange, minutes from Downtown Ventura, Oxnard, and the county’s major employment corridors. Ventura County added nearly 4,700 jobs in 2024, led by healthcare and professional services, while new apartment supply within the city remains tightly constrained. The City of Ventura is also governed by California’s statewide AB 1482 framework rather than a local rent-control ordinance — a regulatory profile many multifamily investors continue to favor. Rental fundamentals, in short, remain sound — even as the investment-sales market works through a slow, rate-driven cycle.

About the Golis Team at Radius Group

The Golis Team — Steve Golis, Aneta Jensen, and Jack Gilbert — specializes in multifamily and investment property sales at Radius Commercial Real Estate. Steve Golis co-founded the Santa Barbara-based brokerage in 2002, and the team regularly guides estates and generational ownerships through structured sale processes. Since 2003, the team has closed more than $1.5 billion in investment sales—more than 6,000 units—across the Central Coast from Ventura County to San Luis Obispo County. For a confidential valuation of your property, contact the team below.

Steve Golis · 805.879.9606 · sgolis@radiusgroup.com · CA Lic. 00772218

Aneta Jensen · 805.879.9624 · ajensen@radiusgroup.com · CA Lic. 01994822

Jack Gilbert · 805.728.5561 · jgilbert@radiusgroup.com · CA Lic. 02197493