Right now we list exactly one gay sauna in Valencia — Sauna Olimpic on Carrer dels Vivons, shown above. Thermas Romeo, Magnus and Magic Spartacus have all closed, so that's the honest picture, not a scene we've padded out.
The closest solid option is Benidorm, with 5 listed gay saunas worth the trip.
What Valencia does offer: bars & clubs (10), hotels (8), cruising areas (6), restaurants (5). Those listings are real, checked, and kept current.