$6.8M Sale Of Mixed-Use Property In Ojai, CA With Buyer's Rep: James DeBuiser & Gary Cohen
611 Pearl Street
18,041 SF
Summary
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.
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