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Greg Fowler Of FPA Multifamily Acquires 52 Unit Multifamily Property From Marshall Boyd & Julia Boyd Corso For $18.2M

Property Image
SOLD
$18,200,000
Dean Zander
Anthony Muhlstein
+ 4

California

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MultiFamily
Sold 03/28/2025
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Property Image
SOLD

Greg Fowler Of FPA Multifamily Acquires 52 Unit Multifamily Property From Marshall Boyd & Julia Boyd Corso For $18.2M

850 Warwick Avenue

See Similar Deals
MultiFamily
Sold 03/28/2025
Dean Zander
Anthony Muhlstein
+ 4
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is a multi-family asset located at 850 Warwick Avenue in Thousand Oaks. This asset comprises 52 units and was sold for $18,200,000.00.

Summary of transaction details:

This transaction involved key individuals such as Greg Fowler, representing FPA Multifamily as the buyer, and Marshall Boyd & Julia Boyd Corso, who represented Interstate Equities Corporation as the seller. The brokers from Newmark played a crucial role in facilitating this deal, showcasing their expertise in multi-family transactions.

Players

Anthony Muhlstein
25 deals$1.1B volume
BROKER

Dean Zander
Newmark
34 deals$2.1B volume(310) 407-6522
BROKER

Chris Benton
Newmark
20 deals$709.6M volume
BROKER

Gabe Munson
Newmark
11 deals$300.9M volume(310) 407-6562
BROKER

CBRE
BROKERAGE

Greg Fowler
FPA Multifamily
17 deals$1.3B volume
BUYER


Marshall Boyd
Interstate Equities Corp.
9 deals$790.2M volume
SELLER

Details

SOLD
IMAGE: Greg Fowler, Marshall Boyd, Julia Boyd Corso, Anthony Muhlstein, Chris Benton, Dean Zander & Gabe Munson DATE: 03/28/2025 ADDRESS: 850 Warwick Avenue MARKET: Thousand Oaks ASSET TYPE: Multifamily BUYER: Greg Fowler - FPA Multifamily SELLER: Marshall Boyd & Julia Boyd Corso - Interstate Equities Corporation BROKERS: Anthony Muhlstein (@AnthonyMuhlstein), Chris Benton (@BentonCW), Dean Zander (@Deanzzz1) & Gabe Munson (@Gabe_Munson) - Newmark (@Newmark) SALE PRICE: $18,200,000 UNITS: 52 ~ PPU: $350,000 NOTE: Newmark brokered the $18.2M sale of The Hills, a 52-unit multifamily property at 850 Warwick Ave. in Thousand Oaks, representing seller Interstate Equities Corporation in a deal with buyer FPA Multifamily. Built in 1973, the property offers value-add potential with 37 unrenovated units and a low-density 2.4-acre site that may allow for additional ADUs

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$970,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$64,660.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,277.29
Annual Debt Service$1,035,327.42