2387 Tapo Street , Simi Valley, CA 93063
Simi Valley, CA 93063
Description
2353 & 2387 Tapo Street is currently 100% leased, with a mix of long-term tenants paying below-market rents. Divided into six units, three tenants operate on a month-to-month basis, presenting immediate potential for rental upside or owner-occupancy. Current rents are more than 30% below market, providing significant value-add opportunities through strategic lease negotiations or repositioning. The property boasts 42 parking spaces and multiple points of ingress and egress, ensuring convenient access for tenants and patrons alike. Located within a highly trafficked retail corridor, the site sees approximately 16,200 vehicles per day on Tapo Street and benefits from proximity to the Ronald Reagan Freeway (126,000+ CPD) and Tapo Canyon Road (29,500+ CPD). The surrounding submarket is affluent, with average household incomes exceeding $127,000 within a 2-mile radius and a median home value of nearly $850,000. Additionally, the property benefits from flexible zoning, allowing for potential long-term redevelopment into mixed-use or multifamily housing. Across the street, the Santa Susana Plaza is undergoing a significant redevelopment to include 280 multi-family units, a community park, and a resident-only parking garage, further enhancing the area's growth and investment appeal.
Details
| MLS# | 25489019 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1979 |
| Days On Site | 85 |
| Listing Provided By | The CREM Group 323-347-1009 | Mark Cianciulli |
Features
| SQ Feet | 11,306 |
|---|---|
| Units | 6 |
| Building(s) | 2 |
| Zoning | CPD |
| Acreage | 0.84 |
Market Activity 93063
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Learn More About This Property
| State | CA |
|---|---|
| County | Ventura |
| City | Simi Valley |
| Zip Code | 93063 |
| Area | SVC Central Simi |
| Listing VS Median (In 93063) | |
Price: $1,900,000 low | high Med: $849,000 SqFt: 11,306 low | high Med: 1,928 $ / SqFt: $168 low | high Med: $441 On site: 85 low | high Med: 412.500000 | |