Cora Apartments

JLL, as exclusive advisor, is pleased to present for sale Cora Apartments ("Cora" or the "Property") – a 140-unit, multi-housing investment opportunity located in coastal Ventura, California. The Property was developed and designed by best-in-class developer Greystar and delivered in three phases. The completion of Cora in 2023 marked the first multifamily property to be delivered in Downtown Ventura in over 30 years. The lack of existing inventory and limited future supply allows the property to attract and retain some of the strongest demographics in the Ventura County metro with an average household income of ±$229,000, which is ±143% above the County average of ±$94,150.

Cora Apartments' unique three-phase design offers a variety of floor plans including flats, lofts, and townhomes that cater to the taste of Ventura's affluent residents. The units at the property average ±811 square feet and thus provide spacious and open floor plans that are uncommon amongst traditional multifamily assets. Topped with seventeen townhomes that average ±1,225 square feet, Cora is able to cater to a wide range of affluent tenants including high-earning households that require an abundance of space. In addition to ample living space, the Property offers an unparalleled living experience, providing luxurious interior unit finishes, resort-style community amenities, and boutique services including but not limited to valet trash services, resort-style sky deck with grills and lounge seating, and an outdoor heated pool & spa with lounge chairs.

Located in Downtown Ventura, Cora is only steps away from the Ventura State Beach, the Ventura promenade, and the second longest wooden pier on the West Coast, which is host to popular restaurants with breathtaking views of the Pacific Ocean. Cora's proximity to downtown provides immediate access to a plethora of desirable retailers and eateries including Patagonia, Rumfish y Vino, Lure Fish House, and Casa Bella Steak & Seafood. Benefiting from Cora's central location and proximity to I-101 and CA-126, tenants can rapidly commute to the most prominent employment hubs such as Santa Barbara, Carpinteria, Oxnard, and Los Angeles. In addition, the Ventura Metrolink Station (5-minute walk from Cora) provides direct access to the Ventura County line which connects Ventura to all of Southern California's largest employment hubs and demand drivers without the need for a car.

The Property's high-end unit finishes and resort-style amenity spaces, coupled with its central coastal location, position Cora to continue to attract an outstanding tenant base and realize outsized future rental upside.