Ventura Sees Multifamily Surge to $184M as Demand Outpaces Supply
Ventura has enjoyed strong multifamily investment to start the year, as tenant demand surges, as highlighted in a new market report from CBRE.
Total volume in the market hit $184.4 million in the three months through, up significantly from the $129.9 million posted in the fourth quarter. A big portion of that total in the first quarter came from Hines' $105 million buy of a 235-unit property. That was followed by Suzann Cabling and Eric Lipp, which made acquisitions totaling $69.50 million and $6 million, respectively, in the market.
Net absorption came in strong, at a positive 607 units compared with the negative 18 posted in the fourth quarter of 2025. Also, the demand exceeded the supply of 585 units — though deliveries surged from just the 90 units recorded at the end of last year.
Additionally, other important fundamentals improved modestly. Average rents per unit, for example, increased by 1.4 percent to $2,757. The Thousand Oaks submarket averaged the highest total, at $2,858, with Simi Valley/Moorpark seeing the lowest, at $2,628.
Occupancy inched up by 10 basis points to 96 percent. Interestingly, occupancy among buildings built during the 1970s was the highest, averaging 97.4 percent. That outpaced multifamily properties built in the 2010s (94 percent) and those constructed in the 1960s (96.1 percent).
Source: GlobeSt/ALM