Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1260 Patricia Ave Simi Valley, CA 93065-7553

    • Apartment buildings
    • 1,948 SF
    • 0.84 lot acres
    OFF-MARKET
    Last Sale
    Sep 29, 2021
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    3.8%
    Apartment buildings
    Location Intelligence
    Property ID
    US10-1481990
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Vantage Apartments / Apartment Building

    Property Details for 1260 Patricia Ave

    Year built
    1950
    Lot size
    0.84 lot acres
    Property size
    1,948 SF
    Zone code
    RH-1
    Property type
    Apartment buildings
    APN
    632-0-351-695
    APU
    6320351695

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $500,000
      6.5%
      $460,000
      7%
      $425,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $565,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $815,000
      Change: +45% Conversion: Difficult
      OFFICE BUILDING
      $745,000
      Change: +32% Conversion: Moderate
      MEDICAL BUILDING
      $740,000
      Change: +31% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $730,000
      Change: +29% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $655,000
      Change: +16% Conversion: Moderate
      WAREHOUSE, STORAGE
      $565,000
      Change: +0% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Simi Valley
    County
    Ventura
    State
    California
    Longitude
    -118.775
    Latitude
    34.2701
    CBSA code
    37100
    CBSA name
    OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $81,450
    $1,315,532
    $6,365,947
    $7,681,479
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $555,000
      1.00 Acre

      1769 Patricia Ave

      APARTMENT HOUSE (5+ UNITS) • 1.00 Acre
      1769 Patricia Ave, Simi Valley, CA 93065-3453
      View Details
    • Value Estimation
      $5,490,000
      27,916 SF

      849 Country Clb Dr

      APARTMENT HOUSE (5+ UNITS) • 27,916 SF
      849 Country Clb Dr, Simi Valley, CA 93065-6645
      View Details
    • Value Estimation
      $3,380,000
      26,580 SF

      1216 Patricia Ave

      APARTMENT HOUSE (5+ UNITS) • 26,580 SF
      1216 Patricia Ave, Simi Valley, CA 93065-2876
      View Details
    • Value Estimation
      $2,595,000
      21,144 SF

      1788 Patricia Ave

      APARTMENT HOUSE (5+ UNITS) • 21,144 SF
      1788 Patricia Ave, Simi Valley, CA 93065-0491
      View Details
    • Value Estimation
      $18,800,000
      99,340 SF

      643 Country Clb Dr

      APARTMENT HOUSE (5+ UNITS) • 99,340 SF
      643 Country Clb Dr, Simi Valley, CA 93065-7602
      View Details
    • Value Estimation
      $1,230,000
      9,664 SF

      1605 1st St

      APARTMENT HOUSE (5+ UNITS) • 9,664 SF
      1605 1st St, Simi Valley, CA 93065-0301
      View Details

    Similar Nearby for Sale

    • $635,000
      982 SF

      Simi Valley Duplex For Sale

      Two-bedroom, two-bath duplex with remodeled bathrooms and community pool.
      1995 E Covington Ave, Simi Valley, CA 93065
      View Details
    • $1,650,000
      10.00 Acres

      10-Acre Equestrian Estate Land

      Rare 10-acre equestrian-zoned land in exclusive Presidential Estates.
      70 Presidential Dr, Simi Valley, CA 93065
      View Details
    • $575,000

      Vacant Commercial Lot For Sale

      Vacant commercial lot zoned for office and related services.
      2025 Royal Ave, Simi Valley, CA 93065
      View Details
    • $3,100,000

      Medical Office Condo First Floor

      Medical office condo for sale or lease, entire first floor.
      2876 N Sycamore Dr, Simi Valley, CA 93065
      View Details
    • $682,500

      Simi Valley Office Building Interest

      Undivided interest in well-maintained, multi-tenant office building for sale.
      1791 Erringer Rd, Simi Valley, CA 93065
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      4,801 SF

      Woodlands Plaza Retail Space for Lease

      Prime Simi Valley storefront, 4,687 sq ft.
      540 Los Angeles Ave, Simi Valley, CA 93065
      View Details
    • Contact for pricing
      237,266 SF

      Simi Valley Industrial Sublease

      Industrial space available for sublease in Simi Valley, CA.
      355 E Easy St, Simi Valley, CA 93065
      View Details
    • $27 SF/Yr
      6,811 SF

      Prime Simi Valley Executive Suites

      Modern Office Space, Flexible Sizes Available
      1445 Los Angeles Ave, Simi Valley, CA 93065
      View Details
    • $22 SF/Yr
      12,613 SF

      Royal Medical Plaza: Simi Valley

      Medical Office Suites for Lease
      2045 Royal Ave, Simi Valley, CA 93065
      View Details
    • $1.75 SF/Yr

      Industrial Space Available for Lease

      Industrial property available for lease in Simi Valley, CA.
      791 Chambers Ln, Simi Valley, CA 93065
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1260 Patricia Ave
    Simi Valley, CA 93065-7553
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!