Seven-Unit Apartment
New
For Sale
$1,725,000
24802 Walnut St, Santa Clarita, CA 91321
Unit mix includes studio, one-bedroom, and two-bedroom floor plans for varied residential occupancy needs.
Property Size5,842 SF
Lot Size0.26 Acres
Days on Market2
Property Features for 24802 Walnut St
General Information
Standard status
Active
Size
5,842 SF
Net Rentable
5,842 SF
Lot size
0.26 Acres
Property subtype
Multifamily
Occupancy
97%
Additional Details
Cap Rate
5.31%
Highway Access
Yes
Multifamily Units
7
Amenities
First time on market in nearly 50 years- being sold by the original developers' children
Seven units on Two APNs – residential financing may apply
Five two-car garages on site make for a great opportunity for potential ADU conversions
Gated parking and entrances
Corner lot with great unit mix and large floorplans
No local rent control- subject to AB 1482
Building Details
Building Size
5,842 SF
Year Built
1978
Units
7
Listing Agency:
Encino Office
(818) 212-2675
Listed By:
Logan Ward · License #License(s): CA: 02200464
(818) 212-2675
Source:
Marcusmillichap
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 3 at 5:02AM
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
Investment Insights
Based on property information with market context.
Built in 1978, this seven-unit apartment property at 24802 Walnut St includes 5,842 rentable square feet on a 0.26-acre site. The configuration combines studio, one-bedroom, and two-bedroom residences, creating a varied unit mix within an established residential setting. The property has remained under ownership by the same family since development and is being offered for the first time in nearly 40 years. In-place rents are below current market rates, with future rent positioning tied to natural tenant turnover.
The property is in Santa Clarita, approximately 30 miles north of downtown Los Angeles, with access to the I-5 and SR-14 corridors. The surrounding area includes parks, trails, recreational facilities, festivals, and farmers markets, while the city provides connections to employment centers in Los Angeles, the San Fernando Valley, and surrounding counties. Walnut Street is identified as part of the city’s established residential core, where the property has maintained stable occupancy for nearly half a century.
The property is in Santa Clarita, approximately 30 miles north of downtown Los Angeles, with access to the I-5 and SR-14 corridors. The surrounding area includes parks, trails, recreational facilities, festivals, and farmers markets, while the city provides connections to employment centers in Los Angeles, the San Fernando Valley, and surrounding counties. Walnut Street is identified as part of the city’s established residential core, where the property has maintained stable occupancy for nearly half a century.
Key Highlights
- Seven‑unit apartment property on a 0.26‑acre site
- 5,842 rentable square feet
- Studio, one‑bedroom, and two‑bedroom unit mix
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 | $168.2k | $28.80 |
| − Vacancy | −$7.6k | −$1.30 |
| EGI | $160.7k | $27.50 |
| − OpEx | −$72.3k | −$12.38 |
| NOI | $88.4k | $15.13 |
5,842 SF · lease $28.80/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,373 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,484 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Yes
Highway 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Unit mix includes studio, one-bedroom, and two-bedroom floor plans for varied residential occupancy needs.
Where is this apartment building located?
The property is located at 24802 Walnut St Santa Clarita, CA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Seven‑unit apartment property on a 0.26‑acre site; 5,842 rentable square feet; Studio, one‑bedroom, and two‑bedroom unit mix
