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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.

$3,275,000Asking Price
4.73%Cap Rate
$154,948Annual NOI
8 UnitsAll 2BR/1BA
$409,375Price / Unit
8,730 SFBuilding SF
1979Year Built
15.06×GRM

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

Address24522 Chestnut St, Newhall, CA 91321
APN2831-005-034
Units8 × 2BR/1BA
Building SF8,730 SF
Year Built1979
Parking8 Garage Spaces (1/unit)
RegulatoryAB 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

Financials

Income & Expense Summary

Gross Income

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

Operating Expenses

Line ItemMonthlyAnnual
Property Tax$2,939$35,268
Insurance$583$7,000
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
$154,948
Net Operating Income
4.73%
Capitalization Rate
$217,512
Gross Scheduled Income
28.8%
Expense Ratio

Rent Roll

Current Tenancy

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

UnitTypeSFCurrent Rent  ·  vs. Market
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