Big Oak Center

Category
Current Portfolio
About This Project

Crystal View Capital Fund I, LLC is pleased to announce the acquisition of 95,140 net rentable area sq ft consisting of 460 self-storage units and 17 retail storefront units for $3,650,000 located in Clearlake Oaks, CA. “Going in at a 10.7% cap rate, 93% occupancy, and below market rents; this asset is a fabulous addition to our portfolio. With an annual Net Operating Income of $390,312, based on our valuation models, this property will net the fund an additional $224,541 (Est.) per annum after debt service and operating expenses. Big Oak Center is a text book Crystal View purchase – a fair price, big upside in value by raising rents, and well located with high barriers to entry.”

Deal Highlights:

  • Acquired via a $2,737,500 CMBS loan at 4.7% interest fixed for 10 years.
  • Appraised for $4,550,000 in Sept 2016.
  • Located on 10 acres of land in Lake County CA, 40 miles north of Napa Valley.