209 Aegean Way, Vacaville, CA 95687

01

Executive Summary

Berkadia exclusively presents the opportunity to acquire Oak & Ivy (“the Property”), a 296-unit garden-style community in Vacaville, California. Built in 1987 and benefiting from ±$7.2 million in recent capital improvements with 73% of units remaining in classic condition, Oak & Ivy is a diligently maintained community that provides a proven path to +$1.46 million in anticipated annual revenue upside through renovation and RUBS implementation. The Property is further supported by Vacaville’s spillover appeal from the core Bay Area and a diversified employment base, anchored by a growing biomanufacturing corridor and Travis Air Force Base.

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02

INVESTMENT SUMMARY

Price

To be determined by market  

Bid Deadline 

To be announced 

Terms of Sale 

Free & clear of existing financing  

Address

209 Aegean Way, Vacaville, CA 95687

County 

Solano

Year Completed  

1987 

Site Size Acres 

13.65

Site Size - Square Feet

594,594 

Total Residential Units 

296 

Average Unit SF

792 

Net Rentable Square Feet

234,480

Average In-Place Rent

$1,887 

Average In-Place Rent PSF

$2.38 

03

INVESTMENT HIGHLIGHTS

01

Diligently Maintained Community with +$1.46MM in Annual Income Upside

  • Oak & Ivy has benefited from more than $7.2 million in recent capital improvements including roofing, siding, balconies, windows, plumbing, and HVAC replacement, allowing a new owner to focus on high-impact interior and exterior improvements to drive revenue growth with deferred maintenance addressed.
  • With ±73% of units remaining in classic condition, Oak & Ivy presents the opportunity to capture ±$1 million in proven annual renovation upside, supported by implied rent-to-income ratios of just ±19%.
  • Current ownership recently initiated a RUBS implementation program, creating an opportunity to capture an additional ±$223,000 in market-supported RUBS income upside through implementation across the remaining units, alongside a further ±$227,000 in identified Other Income upside.
02

Spillover Effect Fuels Outsized Rent Growth

  • Vacaville's highly regarded schools, numerous retail and entertainment options, regional connectivity, and relative affordability position it as a preferred destination for renters priced out of surrounding core Bay Area markets, where rents for comparable properties command a 31% premium to Oak & Ivy’s rents.
  • As the core Bay Area’s nation-leading rent growth continues to pressure housing affordability, Oak & Ivy is ideally positioned to capture renter demand from households seeking greater value without sacrificing access to major employment centers and lifestyle amenities.
  • As a result of a growing local economy and the spillover effect, forward-looking submarket forecasts call for a 23% increase in median household incomes alongside 4% population growth in five years, supporting long term submarket projections of 3.9% average annual rent growth at 96% occupancy.
03

Diversified Employment Base Anchored by a Growing Biomanufacturing Corridor and Travis Air Force Base

  • Oak & Ivy is strategically located within 20 minutes of Travis Air Force Base, Solano County's largest employer with more than 13,400 personnel and generating over $3.7 billion in annual economic impact, acting as a recession-resistant demand driver with major infrastructure expansions on the horizon.
  • Vacaville’s world-class biomanufacturing cluster, led by Lonza, Thermo Fisher Scientific, Polaris Pharmaceuticals, Agenus, and Novici Biotech, continues to drive high earning job creation across the I-80 corridor.
  • Near term regional economic momentum is further strengthened by NorthBay Health’s ongoing $250 million expansion, with transformative long term growth drivers provided by the proposed 40 million square foot Solano Foundry advanced manufacturing park.
04

+96% Occupancy Projected Through 2036 with Minimal Future Competition

  • With only one property planned or under construction in Vacaville, Oak & Ivy represents a critical component of Vacaville’s limited multifamily supply at an affordable price point.
  • Oak & Ivy delivers an exceptional housing value proposition for amenitized suburban living at a ±47% discount to homeownership, with Vacaville’s average home sale prices exceeding $628,000.

04

LOCATION

06

CONTACT US

Investment Sales

Jason Parr 
Senior Managing Director 
415.407.2106 
[email protected] 
CA DRE #01323188 

John Hansen 
Director 
415.3142.5772 
[email protected] 
CA DRE #02078357 

Scott MacDonald 
Managing Director 
415.310.0487 
[email protected] 
CA DRE #01422005 

Sydney Ladrech 
Associate 
916.677.6633 
[email protected] 
CA DRE #02126658 

Kaohu Berg-Hee 
Senior Director 
808.754.0033 
[email protected] 
CA DRE #01986886 

Brett Betzler 
Senior Managing Director 
949.981.1196 
[email protected] 
CA DRE #01330214 

Mortgage Banking

John Koeijmans
Senior Managing Director
214 360 3822
[email protected]

Austin Blankenship
Associate Director
214 360 3825
[email protected]

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209 Aegean Way, Vacaville, CA 95687

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