Marcus & Millichap is pleased to present a six (6) unit multifamily property located at 2909 School Street, in Simi Valley, California. The property is situated just south of
East Los Angeles Avenue, and east of Sycamore Drive.
Simi Valley, positioned between the metro markets of Oxnard, Thousand Oaks, and the San Fernando Valley, is widely known as a commuter's paradise. With dominant
access to the 118 and 23 Freeways, Simi Valley allows for a quick commute to major employers both in Los Angeles and Ventura counties. Simi is known to be an affluent
residential neighborhood with a median average household income of $87,894 annually. The area is home to a unique local amenities such as the Ronald Reagan Library,
the Simi Valley Town Center (the area's largest local shopping center), and finally the Sycamore Square. The economy of Simi Valley is focused primarily on Machinery and
Tools and Metalworking, with 69 and 51 firms respectively. Most of Simi Valley's multifamily product has been recently completed, which allows multifamily owners in this
pocket to command higher rents to keep up with the market.
The subject property features a streamlined unit mix of four (4) one bedroom / one bathroom bungalow units, and two (2) one bedroom / one bathroom duplex units split
between five separated buildings. Each of the bungalow units standalone as their own unit, and the two duplex units are located in the larger building towards the back of
the property. The property shows incredibly well with a large open courtyard with well-maintained grounds that span throughout the lot. Tenants will enjoy assigned garage
parking adding an extra element of safety and convenience. Each of the duplex units in the back feature their own private backyards. All of the units on this property allow
for washers and dryers to be placed in the unit. And finally, the property itself is non-rent controlled.
This is an excellent opportunity for any investor to acquire a cash flowing asset located in a strong rental pocket of Simi Valley, with excellent upside rental potential.
