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8-Unit - 2016-Built 1378-1380 Patricia Ave 8 Unit Apartment Building $6,165,000 CAD ($770,625 CAD/Unit) 3.89% Cap Rate Simi Valley, CA 93065
Investment Highlights
- 2016-Built 8-Unit Apartment Construction
- Interior Apartment 9 Foot Ceilings
- Not Subject to California Statewide Rent Control (AB 1482)
- 2-Story Building Mediterranean Architecture
- Decks and Patios Interior Stainless Steel Appliances
- 100% Occupied Apartment Building
Executive Summary
Sage-View Apartments presents a rare investment opportunity to acquire an eight-unit luxury Mediterranean apartment community built in 2016 in Simi Valley, CA. This property benefits from exemption under AB 1482, meaning it is not subject to rent control, enabling immediate upside potential through market-rate rent adjustments. Fully occupied and meticulously maintained, the asset provides secure cash flow supported by strong fundamentals in one of Ventura County’s most stable rental markets.
Each unit features modern finishes, including stainless steel appliances, quartz countertops, wood-look tile flooring, and private decks or patios. Tenants enjoy covered parking, central HVAC, and energy-efficient systems, reducing maintenance and operational costs. The property spans two well-designed buildings with convenient resident amenities and ample parking (20 spaces, including covered).
Strategically positioned near top retail and dining amenities, with excellent proximity to the 118 Ronald Reagan Freeway, the location offers tenants strong connectivity and lifestyle access. The area exhibits robust rental demand and limited multifamily inventory, ensuring long-term appreciation and consistent income performance for investors seeking quality and durability.
Each unit features modern finishes, including stainless steel appliances, quartz countertops, wood-look tile flooring, and private decks or patios. Tenants enjoy covered parking, central HVAC, and energy-efficient systems, reducing maintenance and operational costs. The property spans two well-designed buildings with convenient resident amenities and ample parking (20 spaces, including covered).
Strategically positioned near top retail and dining amenities, with excellent proximity to the 118 Ronald Reagan Freeway, the location offers tenants strong connectivity and lifestyle access. The area exhibits robust rental demand and limited multifamily inventory, ensuring long-term appreciation and consistent income performance for investors seeking quality and durability.
Financial Summary (Actual - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,165,000 CAD | Apartment Style | Townhome |
| Price Per Unit | $770,625 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.61 AC |
| Cap Rate | 3.89% | Building Size | 8,808 SF |
| Gross Rent Multiplier | 19.14 | No. Stories | 2 |
| No. Units | 8 | Year Built | 2015 |
| Property Type | Multifamily | Parking Ratio | 1.81/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RH(CZ) RES High Density - ZONING: Residential High Density [RH(CZ)] – Residential High Density – Conditional Zoning GPLU: High Density (10.1 – 20 du/ac) | ||
| Price | $6,165,000 CAD |
| Price Per Unit | $770,625 CAD |
| Sale Type | Investment |
| Cap Rate | 3.89% |
| Gross Rent Multiplier | 19.14 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 8,808 SF |
| No. Stories | 2 |
| Year Built | 2015 |
| Parking Ratio | 1.81/1,000 SF |
| Zoning | RH(CZ) RES High Density - ZONING: Residential High Density [RH(CZ)] – Residential High Density – Conditional Zoning GPLU: High Density (10.1 – 20 du/ac) |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Patio
Site Amenities
- Laundry Facilities
- Smoke Free
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 800 - 801 |
| 3+2 | 4 | - | 800 - 1,040 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 632-0-080-205 | Total Assessment | $2,984,622 CAD (2025) |
| Land Assessment | $708,965 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,275,658 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
632-0-080-205
Land Assessment
$708,965 CAD (2025)
Improvements Assessment
$2,275,658 CAD (2025)
Total Assessment
$2,984,622 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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8-Unit - 2016-Built | 1378-1380 Patricia Ave
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