1391 Patricia Avenue, Simi Valley, California 93065, Simi Valley, 93065 - 4 bed, 3 bath
ACTIVE$1,190,000
1391 Patricia Avenue, Simi Valley, California 93065
4Beds
3Baths
1,656Sqft
23,086Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High-Density Zoning: The property is zoned high-density, offering significant development potential to build up to 18 units, which is highly attractive for investors and developers.
Top Cons:
Age of Existing Structure: Built in 1951, the current single-family residence is over 70 years old, likely requiring substantial renovation or being considered a tear-down for new development.
Compared to the nearby listings
Price:$1.19M vs avg $855.0K (+$335,000)80%
Size:1,656 sqft vs avg 1,800 sqft39%
Price/sqft:$719 vs avg $48198%
More Insights
Built in 1951 (74 years old).
Condition: The property was built in 1951, making it 73 years old. The listing description and property analysis explicitly market the property for its land and development potential, stating the existing structure is 'likely requiring substantial renovation or being considered a tear-down for new development.' The complete absence of interior images, especially of the kitchen and bathrooms, strongly suggests these areas are in very poor or original condition and are not a selling point. The exterior images show an aged house with neglected landscaping, reinforcing the assessment that the existing structure is not considered a primary asset and its value is based solely on the land.
Year Built
1951
Close
-
List price
$1.19M
Original List price
$1.35M
Price/Sqft
$719
HOA
-
Days on market
-
Sold On
-
MLS number
225004327
Home ConditionTear down
Features
View-
About this home
Incredible Opportunity - Spacious Property with Huge Potential!Attention investors, developers, and homeowners in search of land - this half-acre lot is calling your name! Zoned high-density, it offers the potential to build up to 18 units, or simply enhance the existing space with an ADU.Ideal for development or those needing space for heavy equipment, this property provides flexibility, location, and value.
Condition Rating
Tear down
The property was built in 1951, making it 73 years old. The listing description and property analysis explicitly market the property for its land and development potential, stating the existing structure is 'likely requiring substantial renovation or being considered a tear-down for new development.' The complete absence of interior images, especially of the kitchen and bathrooms, strongly suggests these areas are in very poor or original condition and are not a selling point. The exterior images show an aged house with neglected landscaping, reinforcing the assessment that the existing structure is not considered a primary asset and its value is based solely on the land.
Pros & Cons
Pros
High-Density Zoning: The property is zoned high-density, offering significant development potential to build up to 18 units, which is highly attractive for investors and developers.
Generous Lot Size: Boasting a half-acre (23,086 sqft) lot, the property provides substantial space for extensive development, an ADU, or other large-scale uses.
ADU Potential: The option to enhance the existing space with an Accessory Dwelling Unit (ADU) adds flexibility for potential rental income or multi-generational living arrangements.
Investor/Developer Appeal: Explicitly marketed as an 'Incredible Opportunity' for investors and developers, highlighting its inherent value for those seeking growth and returns.
Versatile Use Case: The property offers flexibility for various uses, including multi-unit development, ADU addition, or accommodating heavy equipment, catering to diverse buyer needs.
Cons
Age of Existing Structure: Built in 1951, the current single-family residence is over 70 years old, likely requiring substantial renovation or being considered a tear-down for new development.
Recent Price Reduction: The property has undergone a significant price drop from $1.35M to $1.19M, which may suggest initial overpricing or challenges in attracting buyers at the higher valuation.
Unspecified Condition of Existing Home: The description heavily emphasizes land and development potential, omitting details about the condition or features of the existing 4-bed, 3-bath home, implying it may not be a primary asset or could require significant investment.