Occupied Three-Unit
For Sale
$1,095,000
24513 Walnut St, Newhall, CA 95110
Individual residences offer separate income streams on a single parcel.
Property Size2,364 SF
Price / SF$463.20
Days on Market20
Property Features for 24513 Walnut St
General Information
Standard status
Active
Size
2,364 SF
Property subtype
Residential Income
Listing Agency:
Marcus & Millichap
(818) 212-2748
Listed By:
Filip Niculete · License #01905352
(818) 212-2748
Source:
Exprealty
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 30 at 8:49PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This occupied triplex includes three approximately 788-square-foot residences within approximately 2,364 square feet of improvements on a 9,379-square-foot lot. The unit mix comprises one 1-bedroom/1-bathroom home and two 2-bedroom/1-bathroom homes. Each residence has a one-car garage, with one detached garage and two attached garages, providing three garages overall. The property was built in 1954, and each unit operates as a separate income-producing residence.
Located at 24513, 24515 and 24519 Walnut Street in Old Town Newhall within the City of Santa Clarita, the property also benefits from rear alley access. OTNSP-COR zoning supports further study of garage conversions, detached ADU construction and future redevelopment, subject to site planning, tenant considerations, utility capacity, applicable law and City review. California AB 1482 rent-cap and just-cause requirements apply, and the property is not subject to a local Santa Clarita rent stabilization ordinance.
Located at 24513, 24515 and 24519 Walnut Street in Old Town Newhall within the City of Santa Clarita, the property also benefits from rear alley access. OTNSP-COR zoning supports further study of garage conversions, detached ADU construction and future redevelopment, subject to site planning, tenant considerations, utility capacity, applicable law and City review. California AB 1482 rent-cap and just-cause requirements apply, and the property is not subject to a local Santa Clarita rent stabilization ordinance.
Key Highlights
- Three‑unit property with one 1‑bedroom/1‑bathroom residence and two 2‑bedroom/1‑bathroom residences
- Approximately 2,364 square feet of improvements on a 9,379‑square‑foot lot
- Each residence is approximately 788 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,227
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,064,540
$1.1M
Cap Rate 7%
$760,386
$760.4K
Cap Rate 9%
$591,411
$591.4K
Market Conditions
NOI Build-Up for 2,364 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.4K $33.60/SF
− Vacancy
−$3.4K −$1.43/SF
EGI
$76.0K $32.17/SF
− OpEx
−$22.8K −$9.65/SF
NOI
$53.2K $22.52/SF
Area
San Jose, CA
Vacancy
4.27%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,064,540
Cap Rate 7%
$760,386
Cap Rate 9%
$591,411
Alternative Uses
Best Use
Multifamily LT 5
$760.4K
$665.3K – $887.1K
NOI $53,227 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$702.4K
$614.6K – $819.5K
NOI $49,171 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,938 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,782
Businesses Nearby
Explore this area
Business Placement
Demographics for 95110, CA
20,495
Population
7,568
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
4,455
Density / Sq Mi
$132,800
Median Household Income
$60,241
Median Earnings
$2,629
Median Rent
$947,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Individual residences offer separate income streams on a single parcel.
Where is this triplex located?
The property is located at 24513 Walnut St Newhall, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Three‑unit property with one 1‑bedroom/1‑bathroom residence and two 2‑bedroom/1‑bathroom residences; Approximately 2,364 square feet of improvements on a 9,379‑square‑foot lot; Each residence is approximately 788 square feet
