$ 3,695,000
-
$3,695,000
Price -
5
Bed -
3
Bath -
0.62
Acre
NEW! Buy and sell safely with virtual options - Learn More
About the Listing VV8747 - V211503120
The purchase of this property is expected to save the buyer $40,000 in annual financing costs based on a seller loan carry at 5% interest-only monthly payments subject to a minimum of a five-year loan term (or more), requiring a buyer down payment of $1,750,000.Located in Simi Valley, 1378-1380 Patricia Avenue comprises 2 two-story four-plex buildings constructed in 2016. The property features a range of modern construction and design elements, including fire sprinkler systems, 9-foot ceilings throughout, and unit separations designed to support residents' privacy and quiet enjoyment. The property also offers 18 on-site parking spaces and fully landscaped grounds. Architectural highlights give the buildings a contemporary, condominium-inspired appearance.Given the property's 10-year-old building age, it is exempt to California's statewide rent stabilization ordinance (AB 1482) for, at least, the next five years. For this reason, the 'lion's share' of the property's lower-than-average water bill is almost wholly shared with the tenant occupants, thereby lowering this utility cost. The building's relatively recent age of construction maintains maintenance costs to a minimum.Both the aforementioned finance savings, as wells as lower operating costs, can be relied upon by the prospective purchaser when compared to more conventional financing and average multifamily property operations, the combination of which would directly impact expected net operating income in a very substantially positive manner!
Listing Highlights for 1378 Patricia Ave
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances: Gas Oven
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 18
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Carport,Off Street
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 6320080205
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1378 Patricia Ave Simi Valley, CA 93065
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
