
Simi Valley, California 93063
This Senior-Centric Condominium represents a Strong Value Opportunity, listed at $502,303—positioned well below the $553,308 Fair Market Value by 9%. This valuation gap, combined with a $150,000 city down payment assistance loan, provides $50,995 in Instant Equity. Featuring a Condition Rating of 3, the home includes a Granite Kitchen and no-step entry. This is an ideal acquisition for income-qualified seniors or downsizing owner-occupants seeking a secure, accessible, and move-in ready lifestyle.
Property is move-in ready.
Built in 2007 (19 years old), the property falls within the 10-20 year range for well-maintained, functional homes. It features move-in ready upgrades including granite countertops, stainless steel appliances, and wood-look flooring.
Qualified buyers can benefit from a $150,000 no-interest, no-payment city loan, reducing the effective purchase price to a highly competitive $352,303.
The home features a desirable downstairs bedroom with an attached bath and no-step entry from both the front door and garage, ideal for aging in place.
As one of the largest floorplans in the community, it offers 1,752 sqft of living space with premium finishes like granite countertops and stainless steel appliances.
The property is strictly limited to income-qualified buyers aged 55 and older, significantly narrowing the pool of potential purchasers.
City deed restrictions cap the maximum future sales price, which may limit the long-term capital gains compared to market-rate properties.
A great opportunity for an income qualified buyer to receive a no interest/no monthly payment $150,000 City of Simi Valley down payment assistance loan, which reduces the buyer's effective price to $352,303! This is one of 21 deed restricted properties in the 36-unit Paseo de las Flores senior community (55 years & above). This home is one of the largest floorplans in the community with one downstairs bedroom offering dual closets and attached bathroom with a step in shower. Two large bedrooms, both with walk in closets plus a large shared bathroom are located upstairs. Upgrades include wood-look floors throughout (except for a carpeted stairway) and crown molding in the living and dining rooms. The spacious kitchen includes granite countertops, stainless steel built in appliances, upper cabinet doors with leaded glass insterts, and two pantries. An extra level of safety is provided by a security screened front door. Entry into the home through both the front door and garage provide access with no steps. A spacious two-car attached garage provides direct access into the home. Paseo de las Flores includes a large gated pool and spa area. Two community rooms, one with a full kitchen, are available for residents to use.The City deed restrictions currently limit the maximum sales price to below market. The current annual income limit is $87,950 for a single person and $100,500 for a 2-person household.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,752 | 1,188.042 |
| Lot Size | 1,752 | 1,360.042 |
| Price | $502.3K | $500.4K |
| Price per sq ft | $287 | $457 |
| Built year | 2007 | 1986 |
| HOA | $548.0 | $472 |
| Days on market | 45 | 66 |
Jul 26, 2026
$502,303
Initial Listing
Jul 13, 2009
$356,500
Public Record