Located at 611 Pearl Street in Ojai, this mixed-use property recently changed hands in a closed transaction. The property spans a total area of 18,041 square feet, offering a diverse range of uses. With a sale price of $6,800,000, it was sold at a slightly lower rate than the initial asking price of $6,950,000. This translates to a price per unit (PPU) of $850,000 for the 8 units on the property. On a price per square foot (PPSF) basis, the property was valued at $376. The transaction also carried a cap rate of 4.00%, indicating a favorable investment opportunity.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $6,800,000
• Address: 611 Pearl Street
• Market: Ojai
• Units: 8
• Price per Unit (PPU): $850,000
• Total Square Footage (SF): 18,041
• Price per Square Foot (PPSF): $376
• Cap Rate: 4.00%

The buyer was represented by James DeBuiser, Gary Cohen, and Bentley McKean. As their representatives, they played a pivotal role in facilitating the transaction. Their expertise and negotiation skills ensured a successful deal for the buyer in the competitive Ojai market.