A
1850 Williams ST new Save Request In-Person Tour Request Virtual Tour
Simi Valley,CA 93065
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25056078
HOA Y/N No
Year Built 1989
Lot Size 0.849 Acres
Property Sub-Type Multi Family
Property Description
*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 senior apartment building, but all covenants have expired and a new owner may choose to operate it with traditional tenants moving forward. The subject property has nearly 75% upside available in scheduled gross income, offering an ideal value-add opportunity. The property currently collects ~$36k/month in rental income and is offered at only $183k/unit. Once all units are rented for market, the property will operate at a 10.05% cap rate and 6.96 GRM. 1850 Williams St is comprised of (31) 1Bed+1Bath units - some units have gone through light renovations as they've turned over. There is a common space room, as well as outdoor areas for grilling and socializing. The property is very well parked and protected by a gated electric fence. 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.
Location
State CA
County Ventura
Area 699 - Not Defined
Zoning RVH-34.8
Interior
Fireplace No
Laundry Common Area
Exterior
Present Use Multi-Family
Building
Lot Description 0-1 Unit/Acre,Corner Lot
Story 2
Water Public
Others
Tax ID 6320020555
Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange
Special Listing Condition Standard