3941 Walnut Avenue, Simi Valley, California 93063, Simi Valley, 93063 - bed, bath
ACTIVE UNDER CONTRACT$4,799,000
3941 Walnut Avenue, Simi Valley, California 93063
0Bed
0Bath
Sqft
627,264Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Development Potential: This 14.4-acre offering is explicitly marketed as an 'Outstanding development opportunity,' suitable for a wide range of residential or mixed-use projects, indicating high potential for value creation.
Top Cons:
Zoning and Density Verification Required: The critical need for the buyer to verify 'Zoning and density' introduces uncertainty and requires extensive upfront due diligence, potentially delaying project initiation and adding costs.
Compared to the nearby listings
Price:$4.80M vs avg $846.0K (+$3,953,000)99%
Size: sqft vs avg 1,812.5 sqft1%
Price/sqft:$0 vs avg $4771%
More Insights
Built in 1962 (63 years old).
Condition: The property was built in 1962, making it over 60 years old. The listing description explicitly markets this as an 'Outstanding development opportunity' with the property's value based on its 14.4 acres and potential for redevelopment. There are no interior images of the existing single-family residence, nor any details regarding its condition, kitchen, bathrooms, or systems. The property analysis also notes 'Implied Demolition Costs,' strongly suggesting the existing structure is not considered habitable or valuable in its current state and would require demolition for any new development.
Year Built
1962
Close
-
List price
$4.8M
Original List price
$5.5M
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
V1-29393
Home ConditionTear down
Features
Good View: Mountain(s)
ViewMountain(s)
About this home
Outstanding development opportunity--this 14.4-acre offering spans five legal parcels and is perfectly suited for a wide range of residential or mixed-use projects. Whether you're envisioning a single-family developement, a multi-family development, or something uniquely tailored to your investment goals, the size, layout, and location of this property offer tremendous potential. Zoning and density to be verified by buyer, but the land lends itself well to a variety of configurations and future uses. With multiple APNs and flexible access points, this is a rare chance to acquire a development-ready footprint with scale. APNs included in the sale: 614-0-010-065, 614-0-010-075, 614-0-010-085, 614-0-010-205, 614-0-010-195. Don't miss the opportunity to secure a strategic land portfolio in a desirable area, with long-term upside and multiple exit strategies.
Condition Rating
Tear down
The property was built in 1962, making it over 60 years old. The listing description explicitly markets this as an 'Outstanding development opportunity' with the property's value based on its 14.4 acres and potential for redevelopment. There are no interior images of the existing single-family residence, nor any details regarding its condition, kitchen, bathrooms, or systems. The property analysis also notes 'Implied Demolition Costs,' strongly suggesting the existing structure is not considered habitable or valuable in its current state and would require demolition for any new development.
Pros & Cons
Pros
Exceptional Development Potential: This 14.4-acre offering is explicitly marketed as an 'Outstanding development opportunity,' suitable for a wide range of residential or mixed-use projects, indicating high potential for value creation.
Significant Land Size: The substantial 14.4-acre footprint provides ample space for large-scale development, allowing for diverse configurations and significant project scope.
Multi-Parcel Flexibility: Comprising five legal parcels with multiple APNs and flexible access points, the property offers versatility in planning, potential for phased development, and various future uses.
Strategic Investment Opportunity: Described as a 'strategic land portfolio' with 'long-term upside and multiple exit strategies,' it appeals to investors seeking significant returns and diverse investment avenues.
Desirable Location with Views: Located in a 'desirable area' of Simi Valley and boasting 'Mountain(s)' views, which can enhance the appeal and value of any future residential or mixed-use development.
Cons
Zoning and Density Verification Required: The critical need for the buyer to verify 'Zoning and density' introduces uncertainty and requires extensive upfront due diligence, potentially delaying project initiation and adding costs.
Implied Demolition Costs: Despite being listed as a 'Single Family Residence' built in 1962, the description's sole focus on development strongly suggests the existing structure is a tear-down, incurring additional demolition costs and time.
High Upfront Capital & Project Complexity: As a large-scale development opportunity, it demands substantial upfront capital for acquisition, planning, permits, and infrastructure, along with inherent complexities and risks associated with such projects.