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24513 Walnut St 3 Unit Apartment Building $1,249,000 ($416,333/Unit) 3.99% Cap Rate Santa Clarita, CA 91321
Investment Highlights
- SB-79 Property
- Great Infill Development Project In Growing City
- .4 Mile Walking Distance To Metro
Executive Summary
24513–24519 Walnut Street | Prime Multifamily Development Opportunity
• Rare infill opportunity in Southern California with significant upside through redevelopment and rent growth
• Currently improved with a duplex and one detached unit, providing immediate income while planning future development
• Clear value-add potential with ability to add 4 to 5 additional units or build vertically to maximize density
• Zoning allows up to three stories, creating a path for a higher-density apartment or condominium project
• SB 79 enables transit-oriented development with little to no parking requirements, reducing costs and increasing buildable area
• Reduced parking requirements significantly improve project feasibility, design flexibility, and overall returns
• Streamlined entitlement process under SB 79 limits local barriers, allowing for by-right or near by-right development
• Strong rental demand driven by supply constraints supports long-term appreciation and stabilized income growth
• Flexibility to operate as a cash-flowing asset short term or reposition into a high-yield multifamily development
• Ideal for builders and investors looking to move quickly, minimize friction, and capitalize on California’s housing shortage
• Rare infill opportunity in Southern California with significant upside through redevelopment and rent growth
• Currently improved with a duplex and one detached unit, providing immediate income while planning future development
• Clear value-add potential with ability to add 4 to 5 additional units or build vertically to maximize density
• Zoning allows up to three stories, creating a path for a higher-density apartment or condominium project
• SB 79 enables transit-oriented development with little to no parking requirements, reducing costs and increasing buildable area
• Reduced parking requirements significantly improve project feasibility, design flexibility, and overall returns
• Streamlined entitlement process under SB 79 limits local barriers, allowing for by-right or near by-right development
• Strong rental demand driven by supply constraints supports long-term appreciation and stabilized income growth
• Flexibility to operate as a cash-flowing asset short term or reposition into a high-yield multifamily development
• Ideal for builders and investors looking to move quickly, minimize friction, and capitalize on California’s housing shortage
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$70,800
|
$29.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$70,800
|
$29.95
|
| Taxes |
$14,900
|
$6.30
|
| Operating Expenses |
$5,604
|
$2.37
|
| Total Expenses |
$20,504
|
$8.67
|
| Net Operating Income |
$50,296
|
$21.28
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $70,800 |
| Annual Per SF | $29.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $70,800 |
| Annual Per SF | $29.95 |
| Taxes | |
|---|---|
| Annual | $14,900 |
| Annual Per SF | $6.30 |
| Operating Expenses | |
|---|---|
| Annual | $5,604 |
| Annual Per SF | $2.37 |
| Total Expenses | |
|---|---|
| Annual | $20,504 |
| Annual Per SF | $8.67 |
| Net Operating Income | |
|---|---|
| Annual | $50,296 |
| Annual Per SF | $21.28 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,900 | - |
| 2+1 | 2 | $3,800 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2831-005-003 | Total Assessment | $1,065,918 |
| Land Assessment | $642,284 | Annual Taxes | $14,900 ($6.30/SF) |
| Improvements Assessment | $423,634 | Tax Year | 2025 |
Property Taxes
Parcel Number
2831-005-003
Land Assessment
$642,284
Improvements Assessment
$423,634
Total Assessment
$1,065,918
Annual Taxes
$14,900 ($6.30/SF)
Tax Year
2025
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24513 Walnut St
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