
Simi Valley, California 93063
This Value-Add Residential Asset is listed at $998,000, representing a strategic entry point for its expansive 15,725 sq ft lot despite the $924,008 Fair Market Value. Currently holding a Poor Condition Rating, the 3,440 sq ft structure offers a massive footprint for renovation or potential SB9 development and lot splitting. The property includes a private pool, multilevel layout with ensuite baths, and sits within the Simi Valley Unified district near major employment hubs. This high-upside project is perfectly suited for Real Estate Developers or Fix-and-Flip Investors.
Property is extensive renovation needed.
Built in 1984 and explicitly marketed as a 'fixer,' the property is in poor condition with an original, highly dated kitchen, worn cabinetry, and neglected landscaping. At 40 years old with no evidence of recent renovations, the home requires a comprehensive rehab of its interior, baths, and likely major systems.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15725, living area = 3440.
The expansive 15,725 sq ft lot offers substantial upside for investors or developers, with potential for lot splits or additional units under California SB9 regulations.
Boasting over 3,400 sq ft of living space, the home features a unique multilevel design where every bedroom includes an ensuite bathroom, providing exceptional privacy and flexibility.
The property is being sold in 'as-is' condition and requires significant renovation and modernization, which will necessitate a substantial additional capital investment.
The multilevel floor plan and specialized features, such as the indoor glass enclosure, may limit the property's appeal to a specific buyer pool and complicate remodeling efforts.
Huge opportunity in Simi Valley! This 3-bedroom, 3½-bath multilevel home offers approximately 3,440 sq ft of living space and sits on an expansive 15,725 sq ft lot stretching lengthwise along Alamo Street, creating incredible potential for homeowners, investors, or developers alike. This property is a fantastic fixer opportunity for someone looking to renovate and truly make a home their own. As you enter, you're welcomed by what was once a beautiful water fountain feature, now a glass enclosure that allows abundant natural sunlight into the home, along with an impressive large fireplace that creates a dramatic focal point. The spacious layout includes a dining area and separate den, offering space for entertaining, relaxing, or reimagining the layout to suit modern living. The home features a functional multilevel layout, with one upstairs bedroom offering an ensuite bathroom and a convenient half bathroom, while two downstairs bedrooms each feature their own ensuite bathrooms, providing privacy and flexibility for a variety of living arrangements. The large backyard pool offers the opportunity to create an amazing outdoor retreat, perfect for entertaining or enjoying Southern California living. The property also features a garage and extended driveway, offering ample parking. With its substantial lot, buyers may wish to explore opportunities under California SB9 regulations, which may allow additional residential units or a lot split while maintaining residential use. The property may also offer potential for expansion or redevelopment, subject to buyer verification with the City of Simi Valley regarding zoning, SB9 eligibility, and development options. Conveniently located near Highway 118 with access to Highway 23 and Interstate 5, providing connectivity throughout Ventura County, the San Fernando Valley, and Los Angeles County. Located near major healthcare facilities including Adventist Health Simi Valley Hospital and Kaiser Permanente Simi Valley Medical Offices, as well as employers such as Amgen, Simi Valley Town Center, Moorpark College, and surrounding employment hubs. Close proximity to shopping, dining, parks, and community amenities adds long-term value and convenience. Whether you're an investor searching for your next project, a builder exploring development potential, or a buyer ready to transform a fixer into something special, this property offers exceptional upside and long-term potential. Property is being sold as-is.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 49% |
| Baths | 4.0 | 2.0 | 91% |
| Square foot | 3,440 | 1,755 | 97% |
| Lot Size | 15,725 | 6,969 | 92% |
| Price | $998.0K | $868.5K | 73% |
| Price per sq ft | $290 | $485 | 2% |
| Built year | 1984 | 1978 | 66% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 135 | 3% |
May 5, 2026
$998,000
Initial Listing
Jul 17, 2001
$395,000
Public Record
Jan 23, 1997
$292,000
Public Record
Jan 10, 1995
$150,000
Public Record