$6,994 Closing Credit¹
#SR24222335, Bani Yousefi, Listing Office: Equity Union
#SB25054169·
Listing office: Lyon Stahl Investment Real Estate, Inc.·
Listing agent: Cameron Samimi·
Listing office phone: 310-259-7556
$5,700,000 List price
1850 Williams St Simi Valley, CA 93065
0.8 acres
Condo
Property details
About 1850 Williams St
*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.
Highlights
Home typeCondominium
StatusActive
Lot size0.849 Acres
Year built1989
ParkingCarport
MLS #SB25054169
Summary
- MLS Number: SB25054169
- MLS Name: CRMLS
- Office Name: Lyon Stahl Investment Real Estate, Inc.
- Office Phone: (310) 259-7556
- Listing Agent: Cameron Samimi
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/5/2025, 12:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$5,700,000
1850 Williams St
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $3,649,129 | $38,981 |
| 2023 | $3,562,382 | $39,150 |
| 2022 | $3,508,032 | $39,150 |
| 2021 | $3,439,551 | $39,126 |
| 2020 | $3,388,943 | $38,358 |
| 2019 | $3,322,494 | $36,591 |
| 2018 | $3,257,348 | $35,935 |
| 2017 | $3,193,480 | $35,935 |
History based on county public records data.
Nearby schools
3
Park View Elementary School
Public District KG-6
0.5 mi
•1500 Alexander St
4
Arroyo Elementary School
Public District KG-6
1.1 mi
•225 Ulysses St
5
Berylwood Elementary School
Public District KG-6
1.1 mi
•2300 Heywood St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $45,231. Most Simi Valley, CA residents have annual incomes between $35k-100k. Most families are single, no kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
36%
<35k
55%
35k-100k
8%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
43%
Single, No Kids
22%
Single, with Kids
13%
Married, No Kids
22%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
19%
<11 yrs old
10%
12-17 yrs old
31%
18-34 yrs old
32%
35-64 yrs old
8%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Pro Wrestling
Figure Skating
Where do the neighbors shop?
Burlington
Family Dollar
Chico's
Where do the neighbors go to eat?
Popeyes
Cicis Pizza
Church's Chicken
What do the neighbors drive?
Dodge
Pontiac
Cadillac
What do the neighbors listen to?
Urban Contemporary
Jazz
Soft Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1850 Williams St
This home is located at 1850 Williams St in Simi Valley, CA and zip code 93065. Features: 0 bathroom. It has been listed on Rocket Homes since March 14, 2025 and is currently priced at $5,700,000.
Over 13 listings were sold over their listed price in March 2025 in Simi Valley, CA. In the same period over 10 listings were sold below the listed price and 9 listings were sold for the listed price. The inventory of homes for sale in Simi Valley, CA between February and March 2025 increased by 13.7%. In March 2025 median list price was $824,000 and the average listing age was 34 days.
From Rocket Homes Real Estate and based on county public records data.