Encino, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, brokers the sale of Craftsman Village in Ojai, CA. The property is located at 611 Pearl Street. Senior Vice President of Multifamily, Daniel Withers, arranged the sale.
Craftsman Village is a luxury mixed-use property with six residential and two commercial units. The city of Ojai represents an example of low multifamily development. Before Craftsman Village, the last time the city saw new multifamily development was in 2008. Located in the heart of downtown Ojai, Craftsman Village represents an advanced luxury housing opportunity in an area with limited rental options. Its proximity to shops, restaurants, and public spaces, makes it ideal for the unique live-work concept. The live-work space design is an up-and-coming trend that incorporates living spaces on the upper level and workspaces at the lower level such that there is a defined home and workspace.
“No similar properties have been sold in Ojai, CA in recent years,” said Senior Vice President of Multifamily, Daniel Withers. “We determined the market price and executed a strong marketing campaign to find the right buyer for this deal. Craftsman Village is a one-of-a-kind new construction mixed-use development in Ojai. Developing a similar property would be challenging as it took more than a decade to complete this project due to the tight approval process of the City of Ojai.”
The seller in the transaction was a private client and repeat customer of Matthews™. The buyer was sourced through an outside broker and was in a 1031 Exchange.
For more information regarding this sale or if you have any other questions related to multifamily investments, please do not hesitate to reach out to Daniel Withers. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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