CA > Simi Valley
Simi Valley, CA 93065,1850 Williams Street
Simi Valley, CA 93065,1850 Williams Street
Simi Valley, CA 93065,1850 Williams Street
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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$5,700,000
Est. payment /mo
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15,869 SqFt
Pending

1850 Williams Street Simi Valley, CA 93065

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Kenneth Er

Kenneth Er

+1(510) 828-8572

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Key Details

Property Type Commercial

Sub Type Comm Ind For Sale

Listing Status Pending

Purchase Type For Sale

Square Footage 15,869 sqft

Price per Sqft $359

MLS Listing ID CRSB25056078

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1989

Lot Size 0.849 Acres

Property Sub-Type Comm Ind For Sale

Property Description

*CALL FOR OFFERS ON MARCH 28th* We are pleased to present the Westgate Apartments, a pride of ownership 31-unit asset in the highly desirable market of Simi Valley. The property is currently being operated as a 55+ community, but all covenants have expired and a new owner may choose to operate it with traditional tenants moving forward. The current 31 units on site are operating 88% below market rate. The property is also eligible for SB1211 allowing 8 detached ADU's on the property and 1 attached ADU for a total of 9 new 2 bed + 2 bath units, which would increase the gross income upside 167%. It is very rare to find a 1980's vintage asset at only $183k/unit. With the current in place rents the cap rate increases to a 8.1% after factoring in 1M in build costs for the 9 ADU's. Once all units are rented at market and ADU's are built, assuming a cost to renovate and build of $2.1; the property will operate at 10.56% cap rate and a 7 GRM. The property is fixed with common area amenities including a rec room as well as outdoor areas for grilling and socializing. 1850 Williams St is located in the heart of Simi Valley - just minutes away from restaurants, retail and supermarkets. This deal is perfect for investors looking for value-add, pride of ownership assets in a good neighborhood.

Location

State CA

County Ventura

Interior

Fireplace No

Building

Water Public

Bay East AOR and Contra Costa AOR
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.

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Kenneth Er

Agent | License ID: 01942269

+1(510) 828-8572

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1850 Williams Street

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