2642 Gates Place, Simi Valley, California 93065, Simi Valley, 93065 - 2 bed, 1 bath
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2642 Gates Place
Simi Valley, California 93065
ACTIVE UNDER CONTRACT
CONDITION: FAIR
2Beds
1Baths
1,108Sq Ft
7,729Lot Size
Property Price
LIST PRICE$649,000
EST. MARKET VALUE
$654,752
SUMMARY
This property represents a High-Potential Investment Opportunity, listed at a List Price of $649,000—positioned well below the $654,752 Fair Market Value by 0.88%. This valuation gap offers $5,752 in Instant Equity. With a Condition Rating of 4, the home requires modernization, yet its Large Lot Size and Quiet Cul-de-Sac Location provide a solid foundation for value-add renovations. Featuring RV Parking and a Patio, this asset is an ideal project for Buy-and-Hold Investors or first-time buyers seeking to build equity through cosmetic updates.
Estimated Market Value
$654,752
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 |
|---|---|---|---|---|---|---|
★ 2642 Gates Place Subject 2 bd · 1 ba · 1,108 sqft · $591 | $649,000* List Price | 2 | 1 | 1,108 | $591 | - |
A 2343 Lupin Sold 3 bd · 2 ba · 1,066 sqft · $683 · 0.4 mi | $728,000 | 3 | 2 | 1,066 | $683 | 0.4 mi |
B 2040 Clover Street Sold 3 bd · 2 ba · 1,066 sqft · $553 · 0.7 mi | $590,000 | 3 | 2 | 1,066 | $553 | 0.7 mi |
C 2369 E Alden Street Sold 3 bd · 2 ba · 1,205 sqft · $664 · 0.4 mi | $800,000 | 3 | 2 | 1,205 | $664 | 0.4 mi |
D 3069 Galena Avenue Sold 3 bd · 2 ba · 1,465 sqft · $519 · 0.7 mi | $760,000 | 3 | 2 | 1,465 | $519 | 0.7 mi |
E 2420 Marisa Place Active 3 bd · 2 ba · 1,205 sqft · $664 · 0.6 mi | $799,900 List Price | 3 | 2 | 1,205 | $664 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1968, this property is dated but functional. The kitchen features oak cabinetry and tile countertops likely from a 20+ year old renovation, while the bathroom appears mostly original or significantly aged. The interior shows signs of needing minor repairs and cosmetic updates, such as unfinished wall patches and dated fixtures, fitting the criteria for a well-lived-in home requiring modernization.
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 = 7729, living area = 1108.
- Prime Cul-de-Sac Location
Situated on a quiet cul-de-sac, this property offers a peaceful environment with minimal through-traffic, enhancing both privacy and safety for residents.
- RV Parking & Lot Size
The generous 7,729 sqft lot includes desirable RV parking, providing ample space for recreational vehicles or potential outdoor expansions and landscaping.
CONSRISKS & DEFICIENCIES
- Required Renovations
The property is noted as needing updates and personal touches, which will require an immediate additional investment for repairs and modernization.
- Limited Accommodations
Featuring only 2 bedrooms and 1 bathroom, the home's configuration may be restrictive for larger families or buyers seeking a dedicated guest room or home office.
About 2642 Gates Place
Charming 2-bedroom, 1-bath home located on a quiet cul-de-sac with plenty of potential to make it your own. The inviting living room features a cozy fireplace, while the property also offers desirable RV parking and a functional layout. With a little updating and personal touches, this home could truly shine. A wonderful opportunity for buyers looking for a home they can customize and enjoy for years to come.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1968
- Lot Size
- 7,729 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 1.0 | 2.3 |
| Square foot | 1,108 | 1,764.918 |
| Lot Size | 7,729 | 7,506.335 |
| Price | $649.0K | $856.9K |
| Price per sq ft | $586 | $487 |
| Built year | 1968 | 1970 |
| HOA | $0 | $164 |
| Days on market | 23 | 50 |
Pricing History
Listed for Sale
Oct 1, 2026
$649,000
Initial Listing
Sold
Apr 5, 2018
$489,000
Public Record
Sold
May 20, 2005
$489,000
Public Record
Sold
May 20, 2005
$244,500
Public Record
Sold
Sep 1, 1999
$171,500
Public Record