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24522 Chestnut St 8 Unit Apartment Building $3,500,000 ($437,500/Unit) 4% Cap Rate Newhall, CA 91321
INVESTMENT HIGHLIGHTS
- Eight (8) large 2BR / 1BA units (±1,091 SF per unit)
- Newer AC units (replaced within the last 2–5 years)
- Well-maintained with stable tenancy and rental upside
- Subject to AB 1482 – Increased rent flexibility
- Updated dual-pane windows
- One-car garage per unit
EXECUTIVE SUMMARY
CRH Realty Group is pleased to present 24522 Chestnut St., a prime multifamily investment opportunity located in the heart of Newhall, just steps from Santa Clarita’s rapidly redeveloping Old Town Newhall District — one of the city's most vibrant and in-demand rental markets.
This well-maintained, eight-unit apartment building was constructed in 1979 and features spacious two-bedroom, one-bathroom units averaging approximately 1,091 square feet. Each unit offers a comfortable living space that appeals to long-term tenants seeking proximity to schools, shopping, dining, and entertainment in a central, walkable location.
Notably, the property is not subject to the Los Angeles Rent Stabilization Ordinance (RSO) due to its construction date and is instead governed by California’s AB 1482, which allows for more favorable annual rent increases compared to older, rent-controlled assets.
This well-maintained, eight-unit apartment building was constructed in 1979 and features spacious two-bedroom, one-bathroom units averaging approximately 1,091 square feet. Each unit offers a comfortable living space that appeals to long-term tenants seeking proximity to schools, shopping, dining, and entertainment in a central, walkable location.
Notably, the property is not subject to the Los Angeles Rent Stabilization Ordinance (RSO) due to its construction date and is instead governed by California’s AB 1482, which allows for more favorable annual rent increases compared to older, rent-controlled assets.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $437,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 4% | Building Size | 8,730 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 1.37/1,000 SF |
| Zoning | SCSP - Specific Plan | ||
| Price | $3,500,000 |
| Price Per Unit | $437,500 |
| Sale Type | Investment |
| Cap Rate | 4% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 8,730 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | SCSP - Specific Plan |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 2831-005-034 | Improvements Assessment | $1,392,699 (2025) |
| Land Assessment | $1,160,584 (2025) | Total Assessment | $2,553,283 (2025) |
PROPERTY TAXES
Parcel Number
2831-005-034
Land Assessment
$1,160,584 (2025)
Improvements Assessment
$1,392,699 (2025)
Total Assessment
$2,553,283 (2025)
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24522 Chestnut St
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