1534 Wallace Street, Simi Valley, California 93065, Simi Valley, 93065 - 4 bed, 2 bath
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1534 Wallace Street
Simi Valley, California 93065
ACTIVE
CONDITION: FAIR
4Beds
2Baths
1,226Sq Ft
7,840Lot Size
Property Price
LIST PRICE$749,000
EST. MARKET VALUE
$739,740
SUMMARY
This Single Family Residence represents a Strong Value Opportunity, listed at $749,000—positioned well below the $749,031 Fair Market Value by 0.004%. Featuring a 2023 roof and newer HVAC systems, the home maintains a Condition Rating of 4, offering a solid foundation for cosmetic updates. The expansive 7,840 sq. ft. lot provides significant ADU potential and mountain views, balancing immediate comfort with long-term growth. This property is an ideal acquisition for Owner-Occupants seeking value or first-time buyers looking to build equity.
Estimated Market Value
$739,740
Based on Realkey algorithm analyzing recent comparable sales in Simi Valley.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1534 Wallace Street Subject 4 bd · 2 ba · 1,226 sqft · $603 | $749,000* List Price | 4 | 2 | 1,226 | $603 | - |
A 1677 Arcane Sold 4 bd · 2 ba · 1,248 sqft · $561 · 0.2 mi | $700,000 | 4 | 2 | 1,248 | $561 | 0.2 mi |
B 1528 Bodie Sold 4 bd · 2 ba · 1,248 sqft · $625 · 0.1 mi | $780,000 | 4 | 2 | 1,248 | $625 | 0.1 mi |
C 1404 4th Street Sold 4 bd · 2 ba · 1,200 sqft · $608 · 0.9 mi | $730,000 | 4 | 2 | 1,200 | $608 | 0.9 mi |
D 1165 Brandon Sold 4 bd · 2 ba · 1,215 sqft · $551 · 0.9 mi | $670,000 | 4 | 2 | 1,215 | $551 | 0.9 mi |
E 1634 Arcane Street Sold 4 bd · 2 ba · 1,248 sqft · $505 · 0.1 mi | $630,000 | 4 | 2 | 1,248 | $505 | 0.1 mi |
F 1394 Parkhurst Sold 4 bd · 2 ba · 1,516 sqft · $547 · 0.2 mi | $830,000 | 4 | 2 | 1,516 | $547 | 0.2 mi |
G 1507 Buster Street Sold 4 bd · 2 ba · 1,200 sqft · $629 · 0.9 mi | $755,000 | 4 | 2 | 1,200 | $629 | 0.9 mi |
H 938 Ventura Avenue Sold 3 bd · 2 ba · 1,170 sqft · $575 · 0.9 mi | $673,000 | 3 | 2 | 1,170 | $575 | 0.9 mi |
I 1421 Lowery Street Active Under Contract 3 bd · 2 ba · 1,160 sqft · $621 · 0.2 mi | $719,999 List Price | 3 | 2 | 1,160 | $621 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
While the home features a new 2023 roof, newer HVAC, and updated flooring and paint, the kitchen and bathrooms remain dated with older oak cabinetry and tile surfaces (>20 years old). The property is move-in ready but requires cosmetic modernization in core areas.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7840, living area = 1226.
- Recent Capital Improvements
The home features significant high-ticket upgrades, including a new 2023 roof and a newer furnace, thermostat, and water heater, providing immediate peace of mind and reduced maintenance costs for the buyer.
- Development Potential
Situated on a generous 7,840 sq. ft. lot, the property offers ample space for outdoor entertaining and presents a strong opportunity for an Accessory Dwelling Unit (ADU) to increase property value or rental income.
CONSRISKS & DEFICIENCIES
- Compact Living Area
At approximately 1,226 sq. ft. for a 3-to-4 bedroom configuration, the interior layout may feel constrained, resulting in smaller individual bedroom sizes compared to modern builds.
- Aged Infrastructure
While surface updates and major systems have been addressed, the 1962 construction may still feature original plumbing or electrical components that could require future attention.
About 1534 Wallace Street
Welcome to this inviting Simi Valley residence, where thoughtful updates and comfortable living come together in a desirable Central Simi Valley location. This single-story home offers 3 bedrooms, 2 bathrooms, and approximately 1,226 sq. ft. of living space on a spacious lot with beautiful mountain views. Inside, enjoy high ceilings, a cozy fireplace, fresh paint, updated flooring, and modern lighting. Recent improvements include a 2023 roof, newer furnace and thermostat, and water heater. The generous lot offers exciting potential to create your ideal outdoor space and may offer ADU possibilities. An extended patio cover provides a great setting for outdoor entertaining, gatherings, and relaxing outings. The 2-car direct-access garage adds everyday convenience. Conveniently located near schools, shopping, dining, parks, and commuter routes, this home offers comfort, potential, and an excellent Central Simi Valley location.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1962
- Lot Size
- 7,840 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Simi Valley Unified Schools
Berylwood Elementary School
Grades K-6 • 1.1 mi
3/10
Hillside Middle School
Grades 6-8 • 0.8 mi
5/10
Sinaloa Middle School
Grades 6-8 • 1.0 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 2.0 | 2.3 |
| Square foot | 1,226 | 1,764.918 |
| Lot Size | 7,840 | 7,506.335 |
| Price | $749.0K | $856.9K |
| Price per sq ft | $611 | $487 |
| Built year | 1962 | 1970 |
| HOA | $0 | $164 |
| Days on market | 52 | 50 |
Pricing History
Listed for Sale
Sep 2, 2026
$749,000
Initial Listing