| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 51st | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1216 Patricia Ave, Simi Valley, CA, 93065, US |
| Region / Metro | Simi Valley |
| Year of Construction | 1989 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1216 Patricia Ave Simi Valley Multifamily Investment
This 30-unit property built in 1989 serves a neighborhood ranking in the top 10% among 172 metro neighborhoods, with occupancy rates exceeding 98% according to CRE market data from WDSuite.
This Simi Valley neighborhood ranks 15th among 172 metro neighborhoods with an A rating, placing it in the top quartile for overall investment fundamentals. The area demonstrates strong rental demand with 65.2% of housing units renter-occupied and neighborhood-level occupancy rates of 98.2%, significantly above typical market standards.
Built in 1989, the property aligns with the neighborhood's average construction year of 1996, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Demographic data within a 3-mile radius shows a stable population of approximately 62,000 residents with median household income of $113,510, supporting rental affordability in a market where median contract rents reach $2,484.
The neighborhood benefits from exceptional amenity density, ranking in the 98th percentile nationally for grocery store access and 99th percentile for restaurant availability. Home values averaging $682,860 with elevated ownership costs help sustain rental demand, as higher purchase prices keep households in the rental market longer. Forecasted demographic trends indicate household growth of 38.5% through 2028, expanding the potential tenant base and supporting occupancy stability.
The neighborhood demonstrates favorable safety metrics compared to regional and national standards. Violent crime rates rank 7th among 172 metro neighborhoods, placing the area in the 92nd percentile nationally for low violent crime. Property crime rates also perform well, ranking 18th regionally and in the 77th percentile nationwide.
Recent trends show violent crime declining by 65.3% year-over-year, ranking 13th among metro neighborhoods for improvement and reaching the 93rd percentile nationally for crime reduction. While property crime increased 13.9% over the past year, the neighborhood maintains below-average crime rates relative to both metro and national comparisons, supporting tenant retention and property values.
The property benefits from proximity to major corporate employers anchoring the regional economy, providing workforce housing opportunities within commuting distance of biotechnology, pharmaceutical, and insurance headquarters.
- Thermo Fisher Scientific — biotechnology and laboratory services (9.3 miles)
- Amgen — biotechnology and pharmaceuticals (9.8 miles) — HQ
- Farmers Insurance Exchange — insurance services (11.6 miles) — HQ
- Thermo Fisher Scientific — biotechnology and laboratory services (12.2 miles)
- Amerisourcebergen — pharmaceutical distribution (16.6 miles)
This 30-unit property offers exposure to a top-quartile Simi Valley neighborhood with demonstrated rental market strength. Neighborhood-level occupancy exceeds 98%, while the 65.2% renter-occupied housing stock indicates sustained multifamily demand. Built in 1989, the property presents potential value-add opportunities through strategic renovations that could capture upside in a market where median rents reach $2,484.
Demographic projections within a 3-mile radius show household growth of 38.5% through 2028, expanding the tenant base while median household income is forecasted to increase 42% to $161,509. Commercial real estate analysis from WDSuite indicates the neighborhood's A rating reflects strong fundamentals across housing, amenities, and safety metrics that support long-term rental demand stability.
- Neighborhood ranks 15th among 172 metro areas with 98.2% occupancy rates
- Strong rental demand supported by 65.2% renter-occupied housing stock
- Proximity to major biotechnology and pharmaceutical employers
- 1989 construction year presents value-add renovation opportunities
- Risk: High rent-to-income ratios may pressure tenant affordability and renewals