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Listed by Craig Lieberman, DRE #00682741 • Apartment Investment Specialis
$ 3,695,000
Est. payment /mo
New
1378 Patricia AVE Simi Valley, CA 93065
0.62 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-39383
Year Built 2016
Lot Size 0.618 Acres
Source California Regional MLS
Property Description
The purchase of this property is expected to save the buyer $40,000 in annual financing costs based on a seller loan carry at 5% interest-only monthly payments subject to a minimum of a five-year loan term (or more), requiring a buyer down payment of $1,750,000.Located in Simi Valley, 1378-1380 Patricia Avenue comprises 2 two-story four-plex buildings constructed in 2016. The property features a range of modern construction and design elements, including fire sprinkler systems, 9-foot ceilings throughout, and unit separations designed to support residents' privacy and quiet enjoyment. The property also offers 18 on-site parking spaces and fully landscaped grounds. Architectural highlights give the buildings a contemporary, condominium-inspired appearance.Given the property's 10-year-old building age, it is exempt to California's statewide rent stabilization ordinance (AB 1482) for, at least, the next five years. For this reason, the 'lion's share' of the property's lower-than-average water bill is almost wholly shared with the tenant occupants, thereby lowering this utility cost. The building's relatively recent age of construction maintains maintenance costs to a minimum.Both the aforementioned finance savings, as wells as lower operating costs, can be relied upon by the prosp
Location
State CA
County Ventura
Area Svw - West Simi
Rooms
Kitchen Oven - Gas
Interior
Heating Wall Furnace
Cooling None
Laundry None
Exterior
Parking Features Carport , Off-Street Parking
Garage Spaces 18.0
Pool 31, None
View None
Others
Tax ID 6320080205
Special Listing Condition Not Applicable
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