Newhall, CA 91321 · Exclusive Offering

24522 Chestnut Street

Prime 8-unit multifamily in the heart of Old Town Newhall — exempt from LA RSO with immediate rent upside and walkable Metrolink access.

Property Overview

Investment Summary

CRH Realty Group presents 24522 Chestnut Street — a well-maintained 8-unit apartment building in the heart of Newhall's rapidly redeveloping Old Town district. Eight spacious 2BR/1BA units averaging 1,091 SF, each with private garage, updated dual-pane windows, and newer AC. Not subject to LA RSO — governed only by AB 1482's more favorable annual cap.

Eight (8) large 2BR/1BA units — 1,091 SF avg
Built 1979 — exempt from LA RSO
AB 1482 only — flexible rent increase structure
One-car garage per unit (8 total)
Updated dual-pane windows throughout
Newer AC units (replaced within 2–5 years)
Stable, long-term tenancy with low vacancy
0.5 mi to Newhall Metrolink station

Property Details

Address	24522 Chestnut St, Newhall, CA 91321
APN	2831-005-034
Units	8 × 2BR/1BA
Building SF	8,730 SF
Year Built	1979
Parking	8 Garage Spaces (1/unit)
Regulatory	AB 1482 — No LA RSO
Gross Income	$217,512 / yr
Total Expenses	$62,564 / yr
Net Operating Income	$154,948 / yr
Offering Price	$3,275,000

Why Buy This Asset

Investment Thesis

Current rents average $2,169/mo vs. market rate of $2,319/mo for 2BR in Newhall — immediate 7%+ rent upside at each turnover with no vacancy required.
AB 1482 allows CPI-based annual increases with no RSO cap — structural advantage over comparable pre-1978 rent-controlled buildings in the broader LA basin.
Old Town Newhall's arts district redevelopment is driving sustained rental demand from young professionals and creatives — one of LA County's fastest-appreciating suburban corridors.
Stable, low-turnover tenant base delivers day-one cash flow certainty — no lease-up risk, no renovation required to operate.
5-FWY + 14-FWY access and Newhall Metrolink station 0.5 mi away — among the most commuter-friendly locations in all of SCV, supporting premium rents relative to peers.

Financials

Income & Expense Summary

Gross Income

Line Item	Monthly	Annual
Scheduled Rent	$17,676	$212,112
Laundry Income	$450	$5,400
Gross Scheduled Income	$18,126	$217,512

Operating Expenses

Line Item	Monthly	Annual
Property Tax	$2,939	$35,268
Insurance^*	TBD	TBD
Water	$300	$3,600
Gas	$375	$4,500
Electricity	$200	$2,400
Repairs & Maintenance	$300	$3,600
Vacancy Estimate	$400	$4,800
Trash	$58	$700
Sewage	$58	$696
Total Expenses	$5,213	$62,564

* Insurance pro forma pending carrier quote. Currently being requested from Burns & Wilcox / CRC Group / FAIR Plan. Industry comparables for SCV multifamily of this vintage and unit count typically range $20,000–$35,000/yr. Total Expenses, NOI, and Cap Rate shown reflect a $7,000 placeholder pending verification and will be revised on receipt of a verified carrier quote. Buyers should underwrite to a higher insurance figure until the verified quote is in hand.

$154,948^*

Net Operating Income

4.73%^*

Capitalization Rate

$217,512

Gross Scheduled Income

28.8%^*

Expense Ratio

* Subject to revision pending verified insurance pro forma — see note above.

Rent Roll

Current Tenancy

Market avg for 2BR in Newhall: $2,319/mo — current avg $2,169/mo leaves 7%+ upside at each turn.

12BR/1BA1,091

$2,122/mo

$197 below market

22BR/1BA1,091

$2,122/mo

$197 below market

32BR/1BA1,091

$2,251/mo

$68 below market

42BR/1BA1,091

$2,251/mo

$68 below market

52BR/1BA1,091

$2,122/mo

$197 below market

62BR/1BA1,091

$2,214/mo

$105 below market

72BR/1BA1,091

$2,251/mo

$68 below market

82BR/1BA1,091

$2,343/mo

$24 above market

Total $17,676/mo · $212,112/yr

Location

Old Town Newhall

Newhall is the southernmost, oldest part of Santa Clarita — a charming, walkable district undergoing a major cultural and commercial renaissance. Old Town Newhall draws young professionals and creatives with its theaters, restaurants, and arts scene, fueling sustained rental demand and consistent appreciation.

29,416

Newhall Population

$114K

Avg HH Income

$2,319

Market 2BR Rent

0.5 mi

Metrolink Station

Schools

Newhall Elementary — 0.1 mi
Placerita Middle — 0.7 mi
Hart High School — 0.4 mi
College of the Canyons — 4.8 mi

Shopping

The Oaks Plaza — 0.2 mi
Newhall Crossings — 0.2 mi
Wayman Court Center — 0.4 mi

Transportation

Newhall Metrolink — 0.5 mi
Santa Clarita Metrolink — 4.4 mi
5-FWY — Direct access
14-FWY — Direct access

Healthcare & Parks

Henry Mayo Hospital — 1.9 mi
Hart Regional Park — 0.8 mi
Towsley Canyon — 4.1 mi

Request the Offering Memorandum

Full OM with T12 actuals, rent roll, and comparable sales available upon execution of NDA. Contact Chris directly or complete the form below.

Or call / text: 818.314.0300 · Chris.habitz@gmail.com