Courtyard Apartment
New
For Sale
$11,500,000
24377 Newhall Ave, Santa Clarita, CA 91321
This two-story community combines one-bedroom homes with shared landscaped courtyards, carports and on-site laundry.
Property Size36,908 SF
Lot Size2.14 Acres
Price / SF$311.59
Days on Market3
Property Features for 24377 Newhall Ave
General Information
Standard status
Active
Size
36,908 SF
Total Parking Spaces
62
Lot size
2.14 Acres
Property subtype
Multifamily
Financials
Asking Price
$11,500,000
Cap Rate
6.4%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
66 x 1BR/1BA
Multifamily Units
66
Additional Details
Tenant in Place
Yes
Amenities
on-site laundry
13% Rental Upside. The 61 occupied units are scheduled at $102,899 a month on the December 2026 roll, as adjusted in Note 1, against $115,900 at the $1,900 market rent.
Utility Recovery Upside. The pro forma adds water, sewer and trash recovery at $75 per unit per month, about $59,400 a year.
Only Subject to AB 1482. Santa Clarita has no city rent ordinance, registry or just cause rules, and vacant units lease at market.
Owned Since 2006. The same family has owned the property for twenty years.
On-Site Laundry. The seller reports $13,000 a year of laundry income.
66 Units on 2.14 Acres. One connected two-story building around two landscaped courtyards on a 93,152 square foot parcel.
Old Town Newhall. Main Street 0.25 miles away and the Newhall Metrolink station a nine minute walk; Walk Score 92.
62 Parking Spaces. Carports and open stalls along the parking drive, behind a lobby entry on Newhall Avenue.
Building Details
Building Size
36,908 SF
Year Built
1972
Buildings
1
Stories
2
Units
66
Listing Agency:
Encino Office
Listed By:
Logan Ward · License #License(s): CA: 02200464
(818) 212-2675
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Nov 1 at 2:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encino Office
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Investment Insights
Based on property information with market context.
Built in 1972, the 66-unit apartment community occupies a 2.14-acre parcel in Santa Clarita. Its connected, two-story building contains 36,908 square feet, with every apartment configured as a one-bedroom, one-bath unit. Two landscaped courtyards, a lobby entrance on Newhall Avenue, on-site laundry and parking that includes carports are among the property’s existing features.
The property is near Old Town Newhall’s Main Street shops and restaurants, the library and the Newhall Metrolink station. The station is a nine-minute walk and serves the Antelope Valley Line to Los Angeles Union Station. Grocery Outlet is 0.43 miles away, ALDI is 0.52 miles away, and William S. Hart Park is 0.41 miles away. Interstate 5 and State Route 14 provide regional routes, while Henry Mayo Newhall Hospital and College of the Canyons are an eight-minute and ten-minute drive, respectively, during the morning commute.
The property is near Old Town Newhall’s Main Street shops and restaurants, the library and the Newhall Metrolink station. The station is a nine-minute walk and serves the Antelope Valley Line to Los Angeles Union Station. Grocery Outlet is 0.43 miles away, ALDI is 0.52 miles away, and William S. Hart Park is 0.41 miles away. Interstate 5 and State Route 14 provide regional routes, while Henry Mayo Newhall Hospital and College of the Canyons are an eight-minute and ten-minute drive, respectively, during the morning commute.
Key Highlights
- 66 apartments, each with a one‑bedroom, one‑bath layout
- 36,908 square feet in one connected two‑story building
- 2.14‑acre parcel with two landscaped courtyards
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$558,315
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,166,300
$11.2M
Cap Rate 7%
$7,975,929
$8.0M
Cap Rate 9%
$6,203,500
$6.2M
Market Conditions
NOI Build-Up for 36,908 SF
Gross rent
$1.06M $28.80/SF
− Vacancy
−$47.8K −$1.30/SF
EGI
$1.02M $27.50/SF
− OpEx
−$456.8K −$12.38/SF
NOI
$558.3K $15.13/SF
Area
Santa Clarita, CA
Vacancy
4.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,166,300
Cap Rate 7%
$7,975,929
Cap Rate 9%
$6,203,500
Alternative Uses
Best Use
Apartment 5plus
$7.98M
$6.98M – $9.31M
NOI $558,315 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.25M
$8.09M – $10.79M
NOI $647,464 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
66
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,529
Businesses Nearby
Explore this area
Business Placement
Demographics for 91321, CA
33,560
Population
11,257
Households
3
Avg Household Size
37
Median Age
31%
College-Educated
84%
High-School Grad
26.7 sq mi
ZIP Area
1,257
Density / Sq Mi
$93,281
Median Household Income
$40,544
Median Earnings
$2,135
Median Rent
$654,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - This two-story community combines one-bedroom homes with shared landscaped courtyards, carports and on-site laundry.
Where is this apartment building located?
The property is located at 24377 Newhall Ave Santa Clarita, CA.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 66 apartments, each with a one‑bedroom, one‑bath layout; 36,908 square feet in one connected two‑story building; 2.14‑acre parcel with two landscaped courtyards
