40 N Brent St, Ventura

Marcus & Millichap's LAAA Team is thrilled to share the successful sale of a prime 8-unit multifamily property at 40-54 N Brent St in Ventura, CA. Located near the Community Memorial Hospital and various local amenities, this property's sale is a testament to our team's dedication and effective marketing strategies.

We've built a reputation for achieving consistent results, thanks to our determined efforts, large investor network, and personalized approach. We avoid the common mistake of relying solely on online listing platforms, opting for a proactive marketing strategy that involves phone calls, emails, and postcards to potential buyers, in addition to our online marketing on nearly a dozen different websites.

For the 40 N Brent property, our marketing strategy reached over 20,000 investors and brokers. We received over 8,400 individual views on our "just listed" email blast, out of which 250 downloaded our detailed marketing package. We connected with hundreds of potential buyers via phone calls, reaching out to those who showed the most interest. Online marketing platforms, direct mail, and other strategies helped us reach over 10,000 investors and brokers in just two weeks.

Due to our aggressive marketing, we received 8 solid offers by the 15th day on market. The lowest bid was $2.45M, and two offers matched the list price ($2.6M). The seller accepted a lower-priced, non-contingent offer with a 10-day all-cash close, primarily due to the immediate renovation costs needed on the property as well as a concurrent 1031 exchange deal the seller was pursuing.

The seller is now in escrow and set to acquire a triple-net (NNN) fast-food property with a secure 15-year lease, guaranteeing a nearly 40% increase in return. This successful transaction is a testament to our expertise in helping investors transition from California apartments to high-yield, hassle-free NNN properties.

The NNN Exchange option has remained a perennial favorite with our clients, making up about 60% of all exchanges we do.

This deal showcases one of LAAA Team's brightest agents, Logan Ward, who was brought on the team in 2022 to expand our footprint to Ventura County. The Ventura market has increasingly become more attractive to multifamily buyers who want to keep their investments in Southern California, but do not want to deal with the anti-landlord LA market. If you're interested in learning more about the Ventura market or discussing the value of a Ventura property you...