GET MORE INFORMATION
We respect your privacy! Your information WILL NOT BE SHARED, SOLD, or RENTED to anyone, for any reason outside the course of normal real estate exchange. By submitting, you agree to our Terms of Use and Privacy Policy.
$ 1,625,000
$ 1,900,000 14.5%
Est. payment /mo
Sold on 04/25/2025
2387 Tapo ST Simi Valley, CA 93063
0.84 Acres Lot
UPDATED:
Key Details
Sold Price $1,625,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 25489019
Sold Date 04/25/25
HOA Y/N No
Year Built 1979
Lot Size 0.840 Acres
Property 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.
Location
State CA
County Ventura
Area Svc - Central Simi
Zoning CPD
Interior
Fireplace No
Exterior
Total Parking Spaces 42
Others
Tax ID 6180160295
Special Listing Condition Standard
Listed by Mark Cianciulli • The CREM Group
Bought with Shaunt Karaghossian • Regal Real Estate/SHU Group Inc.
Bought with Shaunt Karaghossian • Regal Real Estate/SHU Group Inc.