6024 Cochran St
Simi Valley, CA 93063
Melrose West Senior Housing Development · Land For Sale · 19.60 AC

Melrose West Senior Living Community (the “Project”) is a 19.6 Acre Assisted living and Memory Care community located in Simi Valley, California, a thriving community in the southeast portion of Ventura County. Located at the foot of Rocky Peak, minutes from the bustling 118 Freeway and just blocks from the major trade area, Melrose West fills a critical demand for Senior Housing in an area that is severely underserved.The Project is approved for a total of 108 units, 68 of which are slated for Assisted Living, and 40 for Memory Care. With the Baby Boomers aging, senior housing has become one of the most popular and deserved housing options in the market today for our lovely seniors. The Assisted Living/Memory Care space- which primarily serves seniors who need help with their activities of daily living (“ADL”)- generally draws from a local market within 1-5 miles away from the facility itself. At the Melrose West, the demographics are extremely promising in that they evidence a theoretical demand which more than DOUBLES the existing supply in the area. Preliminary surveys indicate that the immediate market for ALF/ALZ beds number roughly 500 (which should continue to increase with the City’s aging population) with only 275 beds being available for lease. Municiple officials believe that the local Simi Valley area will require 800 or more beds to satisfy the publics need for Assisted Living/ Senior Services, 6 times the amount being offered by Melrose West. The land zoning allows this use, with a Conditional Use Permit (“CUP”), for which application to the City of Simi Valley was approved.