Contemporary Single-Story
For Sale
$629,000
2265 Workman Avenue, Simi Valley, CA 93063
DUPLEX - Contemporary - Simi Valley, CA
Property Size1,240 SF
Lot Size0.12 Acres
Price / SF$507.26
Days on Market49
Property Features for 2265 Workman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Family Room, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
Parking features
Driveway
Fireplace
1
Appliances
Free-Standing Gas Range, Dishwasher, Gas Dryer Hookup
Subdivision
SVE - Simi East
Standard status
Active
APN
6440170175
Size
1,240 SF
Lot size
0.12 Acres
Taxes and HOA fees
HOA Fee
$430 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
vaulted ceilings
wainscoting
crown molding
wood shutters
custom built-in banquette
sliding barn doors
interior laundry area
wood-like flooring
Building Details
Year built
1975
Floors in Building
1
Flooring type
Simulated wood
Building materials
Wood, Stucco
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
Keller Williams Exclusive Properties · Keller Williams Realty
(805) 777-7117
Listed By:
Andrew Steinfeld · License #01940098
(805) 777-7117
Added: Jun 25
Changed: Aug 3
Last Checked: Aug 12 at 1:06AM
MLS# 226002994
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.
Investment Insights
Based on property information with market context.
This contemporary duplex property at 2265 Workman Avenue includes a 1,240-square-foot single-story residence on a 0.12-acre lot. The interior features an open floor plan, vaulted ceilings, wainscoting, crown molding, simulated wood flooring, and wood shutters. The layout provides 2 bedrooms, 2 full bathrooms, and a bonus room with its own heating and cooling unit. A kitchen dining bar, built-in banquette, sliding barn doors with storage, interior laundry area, and converted garage add practical functionality. The property was built in 1975 and includes central heating, wall/window and central air-conditioning options, a fireplace, driveway parking, composition roofing, wood and stucco construction, public water, and public sewer.
Key Highlights
- 1,240 SF single‑story duplex property on a 0.12‑acre lot
- 2 bedrooms, 2 full bathrooms, and a bonus room suitable for office or bedroom use
- Bonus room has a dedicated heating and cooling unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,163
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$423,260
$423.3K
Cap Rate 7%
$302,329
$302.3K
Cap Rate 9%
$235,144
$235.1K
Market Conditions
NOI Build-Up for 1,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.0K $25.80/SF
− Vacancy
−$1.8K −$1.42/SF
EGI
$30.2K $24.38/SF
− OpEx
−$9.1K −$7.31/SF
NOI
$21.2K $17.07/SF
Area
Simi Valley, CA
Vacancy
5.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$423,260
Cap Rate 7%
$302,329
Cap Rate 9%
$235,144
Alternative Uses
Best Use
Multifamily LT 5
$302.3K
$264.5K – $352.7K
NOI $21,163 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$403.2K
$352.8K – $470.5K
NOI $28,227 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,403
Businesses Nearby
Explore this area
Business Placement
Demographics for 93063, CA
55,076
Population
20,220
Households
2.7
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
36.2 sq mi
ZIP Area
1,521
Density / Sq Mi
$124,030
Median Household Income
$56,868
Median Earnings
$2,385
Median Rent
$746,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Central heating and a flexible bonus room complement the open interior layout.
Where is this duplex located?
The property is located at 2265 Workman Avenue Simi Valley, CA.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 1,240 SF single‑story duplex property on a 0.12‑acre lot; 2 bedrooms, 2 full bathrooms, and a bonus room suitable for office or bedroom use; Bonus room has a dedicated heating and cooling unit
