| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 78th | Best |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 659 Las Posas Rd, Camarillo, CA, 93010, US |
| Region / Metro | Camarillo |
| Year of Construction | 1979 |
| Units | 106 |
| Transaction Date | 2009-06-26 |
| Transaction Price | $14,000,000 |
| Buyer | Camarillo Mountain View LLC |
| Seller | Essex Portfolio LP (REIT) |
659 Las Posas Rd Camarillo 106-Unit Multifamily
In a high-cost ownership pocket of Ventura County, neighborhood occupancy trends sit near the national median and renter demand is supported by strong local incomes, according to WDSuite’s CRE market data. The submarket’s stability and employment access position this asset for steady operations rather than outsized volatility.
Camarillo’s suburban setting offers everyday conveniences with moderate access to groceries and parks, while cafes and pharmacies are thinner nearby. The neighborhood carries a B+ rating and ranks mid-pack among 172 metro neighborhoods, indicating competitive fundamentals without the pricing extremes of top-tier urban nodes.
Neighborhood-level occupancy is around the national median, suggesting stable leasing conditions, while neighborhood NOI per unit trends are strong relative to peers (82nd percentile nationally based on CRE market data from WDSuite). Median contract rents in the neighborhood skew high versus most U.S. areas, reflecting Ventura County’s income profile and the high-cost ownership market context.
The local renter-occupied share at the neighborhood level is on the lower side for the metro, pointing to a thinner immediate renter base than dense urban cores. However, within a 3-mile radius, the population and household counts have grown in recent years, with projections indicating continued population growth and additional household formation, expanding the tenant base and supporting occupancy stability over time.
Elevated home values relative to income at the neighborhood level signal a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power and retention. For an investor, this combination—stable neighborhood occupancy, expanding 3-mile household counts, and high ownership costs—supports a durable demand narrative for multifamily.
Safety indicators for the neighborhood are generally middle-of-the-pack within the Oxnard–Thousand Oaks–Ventura metro, based on WDSuite data. Property offense estimates improved year over year with a notable decline, a constructive signal for operating stability. Violent offense rates sit around national norms, though recent trends show some upward movement that merits monitoring as part of risk management.
In short, the area compares as neither a top-quartile low-crime enclave nor a clear underperformer in the region; it is competitive among metro neighborhoods with mixed but improving property-crime momentum. Investors should underwrite standard security and prevention measures and track trend lines rather than relying on block-level assumptions.
Proximity to regional life sciences and corporate services hubs supports a commuter tenant base and can aid lease retention. Key employers include Amgen in biotech, Thermo Fisher Scientific, Farmers Insurance, Boston Scientific Neuromodulation, and AmerisourceBergen.
- Amgen — biotech HQ and corporate offices (8.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (25.5 miles)
- Farmers Insurance Exchange — insurance services (26.9 miles) — HQ
- Boston Scientific Neuromodulation — medical devices (32.2 miles)
- AmerisourceBergen — pharmaceuticals distribution (32.3 miles)
659 Las Posas Rd offers scale at 106 units in a suburban Ventura County location where neighborhood occupancy trends are near the national median and neighborhood NOI per unit performance is comparatively strong. Built in 1979, the asset is older than the neighborhood’s typical vintage, creating potential value-add and capital planning opportunities to enhance competitiveness against newer stock while managing systems and deferred maintenance.
High neighborhood home values and elevated median rents—set against strong incomes—reinforce reliance on multifamily. Within a 3-mile radius, recent population and household growth, with further increases projected, point to a larger tenant base and support for leasing stability. According to CRE market data from WDSuite, these dynamics align with steady demand fundamentals, though investors should weigh lower neighborhood renter concentration and mixed but improving safety trends when sizing risk.
- Scale and suburban stability with neighborhood occupancy near national norms
- 1979 vintage offers value-add and CapEx-driven repositioning potential
- High-cost ownership market supports renter reliance and pricing discipline
- 3-mile population and household growth expand the tenant base and support retention
- Risks: lower neighborhood renter concentration and mixed safety trends warrant prudent underwriting