$5,700,000
UNDER CONTRACT

1850 Williams St Simi Valley, CA 93065

West Simi Valley Neighborhood

Estimated payment $36,517/month

Total Views 3,911
1 Bed
1 Bath
15,869 Sq Ft
$359 Price per Sq Ft

Highlights

  • 0.85 Acre Lot
  • Corner Lot
  • 2-minute walk to Simi Valley/Moorpark Hip Mamas N' Papas
  • Royal High School Rated A
  • Laundry Room

About This Home

*CALL FOR OFFERS ON MARCH 28th*We are pleased to present the Westgate Apartments, a pride of ownership 31-unit asset in the highly desirable market of Simi Valley. The property is currently being operated as a 55+ community, but all covenants have expired and a new owner may choose to operate it with traditional tenants moving forward. The current 31 units on site are operating 88% below market rate. The property is also eligible for SB1211 allowing 8 detached ADU's on the property and 1 attached ADU for a total of 9 new 2 bed + 2 bath units, which would increase the gross income upside 167%. It is very rare to find a 1980's vintage asset at only $183k/unit. With the current in place rents the cap rate increases to a 8.1% after factoring in 1M in build costs for the 9 ADU's. Once all units are rented at market and ADU's are built, assuming a cost to renovate and build of $2.1; the property will operate at 10.56% cap rate and a 7 GRM. The property is fixed with common area amenities including a rec room as well as outdoor areas for grilling and socializing. 1850 Williams St is located in the heart of Simi Valley - just minutes away from restaurants, retail and supermarkets. This deal is perfect for investors looking for value-add, pride of ownership assets in a good neighborhood.

Listing Agent

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-259-7556 License #02035763 Listed on: 03/13/2025

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 0.85 Acre Lot
  • Two or More Common Walls
  • Corner Lot
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 15,869 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Parking

  • Carport
  • Parking Available

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 39,40
  • Tax Tract Number 1234
  • Assessor Parcel Number 6320020555
  • $1,234 per year additional tax assessments

Community Details

Building Details

  • 31 Leased Units
  • Rent Control
  • 31 Separate Electric Meters
  • 31 Separate Gas Meters
  • 31 Separate Water Meters
  • Operating Expense $185,516
  • Gross Income $435,244
  • Net Operating Income $236,670

Additional Features

  • 31 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

0

Listing Details

  • CapRate: 4.15
  • Price Per Unit: 183871
  • Property Attached: Yes
  • Zoning: RVH-34.8
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 6320020555
  • Year Built: 1989
  • Special Features: UnderContract

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 359.19

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Carport

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Corner Lot
  • Lot Size Sq Ft: 36982.00
  • Lot Size Acres: 0.8490
  • Latitude Manual: 34.27049300

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 435244.00
  • Gross Multiplier: 13.10
  • Gross Scheduled Income: 435244.00
  • Lot Size Area: 36982.0000 Square Feet
  • Net Operating Income: 236670.00
  • Number Of Separate Electric Meters: 31
  • Number Of Separate Gas Meters: 31
  • Number Of Separate Water Meters: 31
  • Number Of Units Leased: 31
  • Number Of Units Total: 31
  • Operating Expense: 185516.00
  • Rent Control: Yes
  • Total Actual Rent: 36270.00
  • Total Expenses: 185516.00

Tax Info

  • Tax Census Tract: 78.00
  • Tax Lot: 39,40
  • Tax Tract Number: 1234
  • TaxOtherAnnualAssessmentAmount: 1234.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/13/2025 03/13/25 For Sale $5,700,000 -- $359 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB25054169

California Regional Multiple Listing Service (CRMLS)

APN: 632-0-020-555

California Ventura County Simi Valley 93065 West Simi Valley

1850 Williams St, Simi Valley, CA

This home is located at 1850 Williams St, Simi Valley, CA 93065 and is currently priced at $5,700,000, approximately $359 per square foot. This property was built in 1989. 1850 Williams St is a home located in Ventura County with nearby schools including Berylwood Elementary School, Sinaloa Middle School, and Royal High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Cameron Samimi
Listing Agent
Cameron Samimi
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Lyon Stahl Investment Real Estate, Inc.
(805) 303-2915