24846 Walnut St
Newhall, CA 91321
Multifamily Property For Sale · 16 Units

The LAAA Team of Marcus & Millichap is pleased to present a three-property, 56-unit multifamily portfolio in the Santa Clarita Valley, two assets on Walnut Street in Santa Clarita and a 33-unit community on Ridge Route Road in Castaic. All three properties were developed and held by the same family since the 1970s and 1980s and come to market for the first time in nearly four decades, offered by the original owners' children. The result is what long-term stewardship typically produces: stable operating histories, established tenancies, and in-place rents that sit meaningfully below market. The portfolio may be acquired in its entirety or on an individual-property basis.
Tours available with listing agent (Logan Ward).
The property sits on a 0.55-acre site totaling 15,656 rentable square feet, with a unit mix weighted toward spacious one- and two-bedroom floor plans that average
979 square feet — well above the typical workforce apartment in this submarket. In-place rents trail current market rates by a meaningful margin across the majority
of the unit mix, and the path to stabilized performance is driven entirely by natural rent normalization as tenancy turns over under new ownership.
Located approximately 30 miles north of downtown Los Angeles along the I-5 and SR-14 corridors — with convenient access to employment centers in Los Angeles,
the San Fernando Valley, and surrounding counties — Santa Clarita is known for its family-friendly neighborhoods, expansive open spaces, and strong local economy.
One of the largest and most dynamic cities in Southern California, it offers a suburban lifestyle with modern amenities while maintaining close ties to the greater
Los Angeles area. The city is home to a wide range of parks, trails, and recreational facilities, including the extensive Santa Clarita Trail System, as well as major
regional attractions like Six Flags Magic Mountain. Seasonal festivals, farmers markets, and a strong tradition of civic engagement give Santa Clarita a welcoming,
community-oriented identity that continues to attract long-term residents and new arrivals alike. Walnut Street sits at the center of this established residential fabric
— a corridor that has supported stable occupancy at this property for four decades.
• Subject to AB 1482 – no local rent control
• 22 parking spots
• Value Add and ADU potential
• Gated Parking and Entrance
• First time on the market since built
• Steady track record and well-maintained property