JUST SOLD: 5302 Colodny Drive, Agoura Hills | 11-Unit Multifamily Property Sells for $3,490,000

JML Real Estate Group & Sherman and Levine of KW Commercial Continues their Strong Multifamily Sales Activity in Agoura Hills, One of Southern California's Most Supply-Constrained Apartment Markets.

JML Real Estate Group & Sherman and Levine of KW Commercial are proud to announce the successful closing of 5302 Colodny Drive, Agoura Hills, CA 91301, an exceptional 11-unit multifamily investment property located in one of the most desirable and tightly held rental markets along the Los Angeles and Ventura County corridor.

Originally offered at $3,698,000, the property successfully closed at $3,490,000, representing approximately $317,000 per unit and $427 per square foot.

As one of the most active multifamily brokerage teams in Agoura Hills, representing both buyers and sellers, JML Real Estate Group continues to demonstrate its ability to navigate a market defined by limited inventory, exceptionally low transaction volume, and strong long-term ownership.

This latest closing further reinforces our presence in Agoura Hills and the surrounding Conejo Valley multifamily investment market.

Property Sale Highlights | 5302 Colodny Drive

• Property Address: 5302 Colodny Drive, Agoura Hills, CA 91301

• Sold Price: $3,490,000

• Original Asking Price: $3,698,000

• Number of Units: 11

• Building Size: 8,172 Square Feet

• Year Built: 1978

• Sale Price Per Unit: Approximately $317,000

• Sale Price Per Square Foot: Approximately $427

• Property Type: Multifamily / Apartment Building

  
  

Agoura Hills: The Gateway to Ventura County Multifamily Investing

Located along the 101 Freeway corridor at the western edge of Los Angeles County, Agoura Hills serves as a natural gateway to the Ventura County multifamily investment market, connecting the greater Los Angeles region with Westlake Village, Thousand Oaks, Newbury Park, Camarillo, Oxnard, Simi Valley, and the broader Ventura County communities.

For multifamily investors, Agoura Hills occupies a particularly desirable position. Its proximity to major employment centers, highly regarded schools, established residential neighborhoods, and the surrounding Conejo Valley communities creates a compelling environment for long-term rental housing demand.

Unlike more densely developed apartment markets throughout Los Angeles, Agoura Hills has a relatively small multifamily housing inventory. Apartment buildings rarely change hands, with many properties remaining under the same ownership for decades. This limited turnover, combined with barriers to new development, makes available multifamily investment opportunities particularly difficult to find.

In a market where transaction volume is exceptionally low, understanding actual buyer demand, property-level fundamentals, and historical sales activity is critical to establishing value.

For investors evaluating apartment buildings in Agoura Hills, Westlake Village, Thousand Oaks, Ventura, Camarillo, Oxnard, and throughout Ventura County, opportunities like 5302 Colodny Drive offer exposure to a geographically desirable market with limited competing inventory.

A Rare Pride-of-Ownership Multifamily Investment

5302 Colodny Drive represents the type of multifamily asset that seldom becomes available in Agoura Hills: a well-maintained, extensively improved apartment property with significant capital expenditures already completed.

Originally constructed in 1978, the 11-unit property encompasses approximately 8,172 square feet and has benefited from substantial improvements throughout the building.

Ownership made considerable investments to modernize both the property's infrastructure and individual residences. Significant improvements include a 50-year roof, an overhauled main driveway, dual-pane windows, and a replaced sewer line servicing the rear building.

These improvements are particularly meaningful to multifamily investors, as major deferred maintenance and future capital expenditures can materially impact investment returns. By completing many of these costly improvements before the sale, the previous ownership positioned the property as a more attractive, lower-maintenance investment opportunity.

Renovated Interiors, Modern Amenities, and ADU Improvements

Beyond its infrastructure, 5302 Colodny Drive offers a modernized residential experience designed to appeal to today's renters.

Between 2021 and 2022, existing units underwent extensive renovations featuring quartzite and granite countertops, stainless-steel appliances, luxury waterproof laminate flooring, and custom-tiled bathrooms.

Additional upgrades include dedicated tankless water heaters, updated split-system heating and air conditioning, and convenient laundry amenities, with many residences featuring in-unit laundry or dedicated laundry closets.

The property also benefits from newly constructed Accessory Dwelling Units (ADUs), which enhance the property's income-producing potential. With an ADU already leased, the improvements demonstrate an additional rental income opportunity within an established multifamily property.

Together, these improvements created an appealing combination of location, rental income, modern finishes, and reduced anticipated near-term capital improvement requirements.

Why Multifamily Real Estate in Agoura Hills Remains Highly Sought After

Agoura Hills has long attracted multifamily investors seeking ownership in a desirable Southern California community with limited apartment inventory.

Several factors distinguish the local investment market from larger, more transaction-heavy multifamily markets:

Limited Apartment Inventory: Agoura Hills has a relatively small stock of multifamily properties compared with many Los Angeles communities, making investment opportunities scarce.

Low Transaction Volume: Long-term ownership and limited property turnover can make it challenging for investors to enter the market and for sellers to establish accurate pricing based on comparable sales.

Desirable Location: Positioned between Calabasas and Westlake Village, Agoura Hills provides convenient access to employment, shopping, recreation, and surrounding communities throughout the Conejo Valley and Ventura County.

Established Rental Demand: The area's residential character, school options, and access to regional amenities contribute to its appeal among renters.

Barriers to New Supply: Limited development opportunities and local land-use constraints make the creation of competing multifamily housing more challenging than in many higher-density markets.

These characteristics help explain why well-located, well-maintained apartment buildings in Agoura Hills can generate meaningful investor interest despite relatively infrequent sales activity.

JML Real Estate Group: Proven Multifamily Experience in Agoura Hills and the Conejo Valley

In a market like Agoura Hills, where relatively few apartment buildings trade each year, local transaction experience carries significant value.

JML Real Estate Group has been among the most active multifamily brokerage teams in Agoura Hills, successfully representing both buyers and sellers in this limited-inventory market.

Our firsthand experience provides valuable insight into local property valuations, investor expectations, underwriting considerations, and the factors that ultimately drive successful transactions.

Unlike markets with hundreds of comparable apartment sales, accurately pricing multifamily real estate in Agoura Hills requires a deeper understanding of both on-market and off-market activity, property-specific improvements, existing rental income, upside potential, and the motivations of qualified investors.

With more than $623 million in real estate sales, JML Real Estate Group combines extensive transaction experience with sophisticated financial underwriting, strategic marketing, and established investor relationships.

Our goal is not simply to bring a property to market, but to position each investment opportunity appropriately, generate qualified buyer interest, navigate the transaction process, and maximize results for our clients.

The successful sale of 5302 Colodny Drive is another example of our continued commitment to serving multifamily property owners and investors throughout Agoura Hills, Westlake Village, Thousand Oaks, Camarillo, Venura, Oxnard, the Conejo Valley, and surrounding Los Angeles and Ventura County markets.

What Is Your Agoura Hills Apartment Building Worth?

For multifamily property owners in Agoura Hills and neighboring communities, understanding current market value can be particularly challenging due to the limited number of comparable transactions.

Traditional valuation metrics such as price per unit, price per square foot, capitalization rates, and gross rent multipliers provide an important starting point. However, effective multifamily pricing also requires consideration of rental upside, property condition, capital improvement history, financing conditions, local regulations, and active investor demand.

At JML Real Estate Group, we provide comprehensive Broker Opinions of Value (BOVs) designed to help multifamily property owners better understand their investment's current market position and potential sale value.

Whether you own a 5-unit apartment building, a 50-unit multifamily property, or a larger investment portfolio, our team can provide the market insight, transaction experience, and individualized guidance necessary to make informed decisions.

Considering Selling or Purchasing a Multifamily Property?

If you are considering selling an apartment building, completing a 1031 exchange, evaluating your investment portfolio, or acquiring multifamily real estate in Agoura Hills or Ventura County, we welcome the opportunity to discuss your goals.

JML Real Estate Group specializes in multifamily investment sales throughout Agoura Hills, Westlake Village, Thousand Oaks, Camarillo, Oxnard, Ventura, the Conejo Valley, Ventura County, and greater Los Angeles.

Contact JML Real Estate Group for a confidential discussion about your property, investment objectives, or a complimentary Broker Opinion of Value.

818.657.6556 or jared@jaredmlevine.com

JML Real Estate Group

Local Market Knowledge. Proven Transaction Experience. Exceptional Results.