33-Unit Apartment
For Sale
$7,500,000
31701 Ridge Rte Rd, Castaic, CA 91384
Family-owned community with one- and two-bedroom residences and five currently vacant units.
Property Size27,360 SF
Lot Size1.34 Acres
Days on Market97
Property Features for 31701 Ridge Rte Rd
General Information
Standard status
Active
Size
27,360 SF
Net Rentable
27,360 SF
Lot size
1.34 Acres
Property subtype
Multifamily
Occupancy
97%
Additional Details
Cap Rate
5.64%
Highway Access
Yes
Multifamily Units
33
Amenities
First time on the market in 40 years
Growing Population, Limited New Supply
Desirable Unit Mix
Onsite Laundry
Gated Parking
Building Details
Building Size
27,360 SF
Units
33
Listing Agency:
Encino Office
Listed By:
Logan Ward · License #License(s): CA: 02200464
(818) 212-2675
Source:
Marcusmillichap
Added: Aug 2
Changed: Oct 26
Last Checked: Nov 6 at 5:08AM
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.
This 33-unit apartment community contains 27,360 rentable square feet on a 1.34-acre site, with residences averaging 829 square feet. The unit mix is weighted toward one- and two-bedroom floor plans. Developed in 1986 and 1988, the property remained under ownership by the same family throughout its history and has been maintained during that period. Five units are currently vacant, while in-place rents are below current market rates.
The property is located at 31701 Ridge Route Road in Castaic, along the I-5 corridor and approximately 35 miles north of downtown Los Angeles. Its position provides freeway access to Santa Clarita’s employment base and the greater Los Angeles metropolitan area. Castaic Lake and the surrounding recreation corridor are also part of the local setting.
The property is located at 31701 Ridge Route Road in Castaic, along the I-5 corridor and approximately 35 miles north of downtown Los Angeles. Its position provides freeway access to Santa Clarita’s employment base and the greater Los Angeles metropolitan area. Castaic Lake and the surrounding recreation corridor are also part of the local setting.
Key Highlights
- 33 residential units across 27,360 rentable square feet
- 1.34‑acre site with residences averaging 829 square feet
- Unit mix concentrated in one- and two‑bedroom floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$440,244
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,804,880
$8.8M
Cap Rate 7%
$6,289,200
$6.3M
Cap Rate 9%
$4,891,600
$4.9M
Market Conditions
NOI Build-Up for 27,360 SF
Gross rent
$870.0K $31.80/SF
− Vacancy
−$69.6K −$2.54/SF
EGI
$800.4K $29.26/SF
− OpEx
−$360.2K −$13.17/SF
NOI
$440.2K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,804,880
Cap Rate 7%
$6,289,200
Cap Rate 9%
$4,891,600
Alternative Uses
Best Use
Apartment 5plus
$6.29M
$5.50M – $7.34M
NOI $440,244 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.65M
$12.82M – $17.09M
NOI $1,025,391 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
33
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 91384, CA
28,585
Population
7,254
Households
3.9
Avg Household Size
36
Median Age
32%
College-Educated
84%
High-School Grad
103.6 sq mi
ZIP Area
276
Density / Sq Mi
$129,603
Median Household Income
$57,827
Median Earnings
$1,730
Median Rent
$693,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles County, CA
Properties on Market for Apartment buildings in Los Angeles County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Family-owned community with one- and two-bedroom residences and five currently vacant units.
Where is this apartment building located?
The property is located at 31701 Ridge Rte Rd Castaic, CA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 33 residential units across 27,360 rentable square feet; 1.34‑acre site with residences averaging 829 square feet; Unit mix concentrated in one- and two‑bedroom floor plans
