514-516 E Oak St & 601 Grand Ave, Ojai

The LAAA Team is pleased to announce the closing of the Grand East Oak Portfolio, a 32-unit value-add multifamily property located in Ojai, California.

The transaction closed at $8,250,000 following a comprehensive marketing and diligence process. Throughout the sale, our team worked closely with ownership to manage the transaction carefully and close in a challenging capital markets environment.

The Asset

The Grand East Oak Portfolio consists of two adjacent apartment properties totaling approximately 2.75 acres, originally constructed in 1963 and 1965. The properties had been held by the original builder’s family for more than 60 years, making this a rare first-time sale of a legacy asset that had not traded in decades.

Given the long-term ownership profile, the portfolio offered a clear opportunity for both operational and physical upside, along with a level of scale that is uncommon in the Ojai submarket. With limited transaction volume and high barriers to entry, assets of this size rarely come to market.

Earning the Assignment

Our exclusive representation followed a relationship-driven advisory process that spanned approximately eight months. The engagement began with initial outreach in December 2024 and progressed through a competitive evaluation process in which ownership considered multiple brokerage firms.

Instead of leading with aggressive pricing promises, our team focused on clear analysis and realistic positioning. We delivered a detailed valuation supported by market research and demonstrated a strong understanding of Ojai’s supply constraints, buyer demand, and long-term investment fundamentals.

By acting as advisors first, we earned the trust of ownership and were selected to bring the property to market in August 2025, prevailing over both local and regional competitors.

The Marketing Campaign

To maximize value, the LAAA Team executed a focused, data-driven marketing strategy designed to drive competitive interest without sacrificing deal credibility. The campaign generated seven formal offers from a diverse buyer pool that included institutional capital, private investment groups, and experienced local operators.

Early activity helped establish clear pricing expectations and depth of demand. Through a disciplined process, we identified the buyer best positioned to perform through closing and moved the transaction forward with a market-supported result prior to opening escrow.

Due Diligence

As is often the case...