| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 59th | Good |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1606 Rory Ln, Simi Valley, CA, 93063, US |
| Region / Metro | Simi Valley |
| Year of Construction | 2000 |
| Units | 69 |
| Transaction Date | 2015-08-01 |
| Transaction Price | $7,200,000 |
| Buyer | Rory Lane Seniors LP |
| Seller | Seasons Simi Valley AR, LP, confirmed |
1606 Rory Ln Simi Valley Multifamily Investment
Neighborhood occupancy has remained resilient and rents trend in the upper tier for the metro, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 69-unit asset in Simi Valley. The location’s high-cost ownership market further underpins renter demand and lease retention.
Located in Simi Valley’s inner-suburban fabric of the Oxnard–Thousand Oaks–Ventura metro, the property benefits from a largely residential setting with parks and daily-needs retail accessible nearby. Grocery access ranks competitively among 172 metro neighborhoods and parks are above national norms, while cafes and restaurants are limited, suggesting a quieter, commuter-friendly environment that can support retention.
The neighborhood’s occupancy profile sits in the top quartile nationally and is competitive among Oxnard–Thousand Oaks–Ventura neighborhoods, a positive indicator for revenue durability. Median contract rents in the area are also in a high national percentile, signaling pricing power where product is well-positioned.
Built in 2000, the asset is newer than the neighborhood’s average 1980s vintage. For investors, this generally enhances competitive positioning versus older stock and may reduce near-term capital exposure, while selective modernization (systems, interiors, amenities) can unlock value-add upside.
Within a 3-mile radius, demographics point to a growing tenant base: population and households have increased and are projected to expand further through 2028, supporting renter pool expansion. Renter-occupied housing accounts for roughly 30% of units locally, indicating a meaningful but not saturated renter concentration that can sustain multifamily demand without excessive competitive churn.
Home values are elevated relative to incomes, reflecting a high-cost ownership market that helps sustain reliance on multifamily housing. At the same time, rent-to-income metrics indicate manageable affordability pressure for many households, which can support lease retention and reduce turnover risk.
School ratings in the neighborhood trail metro and national averages, which some renters may weigh in their location decisions. However, commuter access and daily-needs amenities typically offset part of that effect for workforce-oriented demand.
Safety trends are favorable on a comparative basis. The neighborhood sits in a high national percentile for safety, indicating lower incident rates relative to many U.S. neighborhoods. Recent data also show notable declines in both violent and property offense estimates year over year, pointing to improving conditions rather than isolated volatility.
As always, investors should evaluate block-by-block dynamics and property operations, but the broader neighborhood context compares well in national terms and is supportive of long-term leasing stability.
Proximity to diversified employers supports steady renter demand, with life sciences, insurance, and healthcare distribution within a commutable radius for residents. The employers below represent key demand drivers accessible from the property.
- Thermo Fisher Scientific — life sciences (4.3 miles)
- Farmers Insurance Exchange — insurance (7.1 miles) — HQ
- AmerisourceBergen — pharma distribution (13.1 miles)
- Boston Scientific Neuromodulation — medical devices (13.9 miles)
- Amgen — biopharma (15.1 miles) — HQ
1606 Rory Ln combines steady neighborhood fundamentals with a 2000-vintage asset that is relatively competitive versus the area’s older stock. High national-percentile occupancy and elevated median rents suggest durable income potential, while a high-cost ownership landscape helps sustain renter reliance on multifamily housing. Based on CRE market data from WDSuite, the broader neighborhood context aligns with stable leasing performance.
Within a 3-mile radius, households and population have grown and are projected to increase through 2028, expanding the tenant base and supporting occupancy stability. Renter concentration is meaningful but not overwhelming, which can temper turnover pressures, and targeted upgrades offer value-add pathways without the heavier CapEx typical of older assets.
- Competitive 2000 vintage versus older neighborhood stock, limiting near-term capital exposure
- High national-percentile occupancy and strong rent positioning support income durability
- Growing 3-mile household base supports renter pool expansion and leasing stability
- High-cost ownership market reinforces multifamily demand and retention potential
- Risks: thinner restaurant/cafe density and below-average school ratings may narrow some renter segments