2387 Tapo Street, Simi Valley, CA 93063
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Listed Price :
$1,900,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
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Year Built :
1979
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.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
2387 Tapo Street |
| City |
Simi Valley |
| State |
CA |
| Zip |
93063 |
| County |
Ventura |
| Listing Agent |
Mark Cianciulli DRE #01990266 |
| Courtesy Of |
The CREM Group |
| List Price |
$1,900,000 |
| Status |
Active |
| Type |
Commercial |
| Structure Size |
N/A |
| Lot Size |
36,590 |
| Year Built |
1979 |
Listing information courtesy of: Mark Cianciulli, The CREM Group. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 24th, 2025 at 10:23 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
