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    New Townhomes in Simi Valley Title is generated by Realmo AI

    1740 Patricia Avenue, Simi Valley, CA 93065

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    For Sale
    $4,300,000

    MULTI_FAMILY - Mediterranean - Simi Valley, CA

    Property size:
    10,500 SF
    Lot size:
    0.37 Acres
    Price / SF:
    $409/SF
    Added:
    Apr 20, 2026
    Days on Market:
    27
    Last Refresh:
    May 16 at 2:06 pm

    Property Features for 1740 Patricia Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    18
    Bathrooms
    15
    Rooms
    Bedroom 5, Bathroom 15, Bathroom 11, Bathroom 10, Bathroom 16, Bathroom 5, Bathroom 8, Bedroom 2, Bathroom 9, Bedroom 6, Bathroom 3, Bathroom 1, Bathroom 18, Bedroom 14, Bedroom 8, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 12, Bedroom 11, Bathroom 7, Bathroom 17, Bathroom 13, Bathroom 14, Bathroom 6, Bedroom 1, Bedroom 12, Bedroom 10, Bedroom 15, Bedroom 9, Bedroom 7, Bathroom 2, Bedroom 17, Bedroom 16, Bedroom 18, Bedroom 13
    Parking features
    Driveway, Garage, On Street, Garage - Attached, Guest
    Window features
    Double Pane Windows
    Patio and Porch features
    Porch
    Interior features
    Quartz Counters
    Appliances
    Microwave, Range Hood, Oven, Gas Oven, Range, Dishwasher, Garbage Disposal, Refrigerator
    Standard status
    Active
    APN
    6320060065
    Size
    10,500 SF
    Lot size
    0.37 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2026
    Floors in Building
    3
    Flooring type
    Laminate, Simulated wood
    Building materials
    Stucco
    Roof type
    Tile
    Architectural style
    Mediterranean

    We can help!

    Listing Contact
    Steven Aslanian

    Listing agent Steven Aslanian License #01130429

    Listing office RE/MAX ONE 30699 Russell Ranch Rd #100, Northridge, CA

    Listing date Apr 20, 2026

    MLS# 226001825 Listing URL

    Copyright © 2026 Conejo Simi Moorpark Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New construction townhome built in 2026
    • Featuring 3 bedrooms and 2.5 bathrooms with 1,700‑1,800 sq ft of living space
    • Attached 2‑car garage
    • Modern design with laminate wood flooring, quartz countertops, and stainless steel appliances
    • Smart home amenities
    • Desirable Simi Valley location near shopping, dining, and commuter routes

    Overview

    Located at 1740 Patricia Ave in Simi Valley, this property features six newly constructed townhomes. Each residence includes 3 bedrooms, 2.5 bathrooms, and approximately 1,700 to 1,800 square feet of living space. Each unit also has an attached 2-car garage. The interiors feature open-concept floor plans, laminate wood flooring, quartz countertops, and recessed lighting. The kitchens are equipped with stainless steel appliances. Smart home amenities are included. The property is situated in a Simi Valley location, with proximity to shopping, dining, and commuter routes. The lot size is 0.37 acres, and the total property size is 10,500 square feet. This property is intended for multifamily and residential income use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Simi Valley
    County
    Ventura
    State
    California
    Longitude
    -118.765116
    Latitude
    34.269624

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    FAQs

    What type of property is this?
    Apartment building - Six new construction townhomes with modern amenities in Simi Valley.
    Where is this apartment building located?
    The property is located at 1740 Patricia Avenue Simi Valley, CA.
    What is the asking price?
    The asking price for this property is $4,300,000.
    What are key features of this property?
    This property features: New construction townhome built in 2026; Featuring 3 bedrooms and 2.5 bathrooms with 1,700‑1,800 sq ft of living space; Attached 2‑car garage
    (818) 832-2626
    We can help!
    Listing Contact
    Steven Aslanian
    Real Estate License ID: 01130429
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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