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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 prospective purchaser when compared to more conventional financing and average multifamily property operations, the combination of which would directly impact expected net operating income in a very substantially positive manner!
Property Type(s):
Residential Income
| Last Updated | 10/21/2026 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 2016 | Community | SVW - West Simi |
| County | Ventura |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Oven |
| AREA | SVW - West Simi |
| HEAT | Wall Furnace |
| LOT | 0.6182 acre(s) |
| LOT DIMENSIONS | 26930 |
| PARKING | Carport, Off Street |
| POOL DESCRIPTION | None |
| STORIES | 1 |
| SUBDIVISION | Not Applicable |
| VIEW DESCRIPTION | None |
Location
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Listed with Apartment Investment Specialis
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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