Eight-Unit Apartment
For Sale
$2,800,000
24522 Chestnut, Newhall, CA 91321
Well-maintained multifamily property with spacious two-bedroom, one-bath units in central Newhall.
Property Size8,730 SF
Days on Market295
Property Features for 24522 Chestnut
General Information
Standard status
Active
Size
8,730 SF
Property subtype
Apartment
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Building Details
Building Size
8,730 SF
Year Built
1979
Buildings
1
Listing Agency:
Howard Realty Group
(818) 314-0300
Listed By:
Chris Habitz · License #01319877
Source:
Truthrealty
Added: Oct 15, 2025
Changed: Aug 3
Last Checked: Aug 5 at 3:58AM
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 Howard Realty Group
Investment Insights
Based on property information with market context.
Constructed in 1979, this eight-unit apartment property offers a consistent unit configuration of two-bedroom, one-bath residences averaging approximately 1,091 square feet. The building is described as well maintained, with living spaces suited to long-term residential occupancy.
The property is located at 24522 Chestnut St. in Newhall, near Santa Clarita’s Old Town Newhall District. Schools, shopping, dining, and entertainment are identified nearby, with the area described as central and walkable.
The building is not subject to the Los Angeles Rent Stabilization Ordinance due to its construction date. The property is instead governed by California’s AB 1482, providing a distinct regulatory framework for annual rent increases.
The property is located at 24522 Chestnut St. in Newhall, near Santa Clarita’s Old Town Newhall District. Schools, shopping, dining, and entertainment are identified nearby, with the area described as central and walkable.
The building is not subject to the Los Angeles Rent Stabilization Ordinance due to its construction date. The property is instead governed by California’s AB 1482, providing a distinct regulatory framework for annual rent increases.
Key Highlights
- Eight‑unit apartment building constructed in 1979
- Eight two‑bedroom, one‑bath apartment units
- Units average approximately 1,091 square feet
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $345.7k | $39.60 |
| − Vacancy | −$15.6k | −$1.78 |
| EGI | $330.2k | $37.82 |
| − OpEx | −$148.6k | −$17.02 |
| NOI | $181.6k | $20.80 |
8,730 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.27M – $3.03M
NOI $181,583 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.27M
$4.61M – $6.15M
NOI $369,062 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with spacious two-bedroom, one-bath units in central Newhall.
Where is this apartment building located?
The property is located at 24522 Chestnut Newhall, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Eight‑unit apartment building constructed in 1979; Eight two‑bedroom, one‑bath apartment units; Units average approximately 1,091 square feet
