On the market for the first time in nearly 40 years, this 7-unit residential community on Walnut Street represents a rare opportunity to acquire a well-established property in one of Northern Los Angeles County's fastest-growing and most well-planned communities. The property was built and owned by the same family since its development in 1978, and is now being offered by the original owner's children. Long-term family stewardship of this kind is increasingly rare in today's multifamily market, and the result is exactly what an experienced investor would hope to find: an asset with a stable operational history, an established tenant base, and rents that have drifted meaningfully below what the market will bear. The property sits on a 0.26-acre site totaling 5,842 rentable square feet and features a well-diversified unit mix including one-bedroom and two-bedroom floor plans as well as a studio that serves the broad spectrum of the Santa Clarita Valley renter market. In-place rents trail current market rates by a meaningful margin, and the path to stabilized performance is driven entirely by organic rent normalization as tenancy turns over naturally under new ownership. Located approximately 30 miles north of downtown Los Angeles along the I-5 and SR-14 corridors with convenient access to employment centers in Los Angeles, the San Fernando Valley, and surrounding counties Santa Clarita is known for its family-friendly neighborhoods, expansive open spaces, and strong local economy. The city offers a suburban lifestyle with modern amenities while maintaining close ties to the greater Los Angeles area, and is home to a wide range of parks, trails, and recreational facilities, including the extensive Santa Clarita Trail System. Seasonal festivals, farmers markets, and strong civic engagement give the city a welcoming, community-oriented character that continues to attract long-term residents and new arrivals alike. Walnut Street sits within this established residential core a corridor that has supported stable occupancy at this property for nearly half a century.
Multi-familyProperty Type
1978Year Built
0.26 acresLot Size
$285Price/Sq.Ft.
7 spacesParking
Listed by Filip Niculete•DRE #01905352• Marcus & Millichap
•818-212-2748 (agent)
•info@laaa.com (agent)
Listed by Glen Scher•DRE #01962976• Marcus & Millichap
•818-667-6683 (agent)
•glen.scher@marcusmillichap.com (agent)
Bought with Filip Niculete•DRE #01905352• Marcus & Millichap
Bought with Glen Scher•DRE #01962976• Marcus & Millichap
The urban residential 3 (UR3) zoning designation provides for neighborhoods of single-family attached and detached housing, and small-scale attached multifamily dwellings such as duplexes and triplexes. Allowed uses include single-family homes, duplexes, triplexes and small-scale multifamily dwellings of a scale and character that complement and are consistent with a single-family residential neighborhood at a maximum density of 11 du per acre provided associated recreational facilities are provided.
Permitted uses
Include but are not limited to:
Housing
Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Other
Nov 2, 2017 • Final
Mep
Install electrical power for new entry and exit gates at the property.
Electrical
Nov 2, 2017 • Final
Building combo
Remove existing roofing and install new OSB plywood sheathing and dimensional shingles. Solid panel sheathing is required.
Roofing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Garage
Carport, Uncovered
Parking
# of Parking Spaces (Total): 7
Interior
Equipment
Other
Heating & Cooling
Wall Unit Cooling
Wall Heat
Multi-Unit Income
Gross Income: 153000
Gross Operating Income: $149,879
Net Operating Income: $91,572
Multi-Unit Expenses
Total Annual Expense: $28,307
Multi-Unit Other Financial Information
Cap Rate: 5.31
Gross Rent Multiplier: 11.27
Vacancy Rate: 3
Scheduled Actual: Actual
Multi-Unit Information
Unit Type Type: 1, 2, 3
Type Of Units: Market
# of Buildings: 3
Unit 1 Information
# of Beds: 1
# of Baths: 1.00
Rent: $1,697
Projected Rent: $10,400
Actual Rent: $6,786
# of Units: 5
Unit 2 Information
# of Beds: 0
# of Baths: 1.00
Rent: $1,650
Projected Rent: $1,650
Actual Rent: $1,650
# of Units: 1
Unit 3 Information
# of Beds: 2
# of Baths: 2.00
Rent: $2,214
Projected Rent: $2,400
Actual Rent: $2,214
# of Units: 1
Exterior
Building Information
Total Floors: 2
Two Level
Property Information
Property Type: Residential Income
Land Information
Other Structures: None
Lot Information
Lot Size (Sq. Ft.): 11,325
Lot Size (Acres): 0.1237
Zoning: SCUR3
Financial
Assessment Information
Assessed Total Value: $148,498
Assessed Land Value: $21,782
Assessed Land %: 14.67
Assessed Improvement Value: $126,716
Assessed Improvement %: 85.33
Assessor Parcel Number: 2855-013-046
Location
Community Information
# of Units in Complex (Total): 7
Location Information
Directions: Intersection of Walnut St and 14th St.
Public facts
Beds: 4
Baths: 2.0
Sq. Ft.: 1,188
Stories: —
Lot Size: 5,390 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1978
Year Renovated: —
County: Los Angeles County
APN: 2855013046
Home facts updated by county records on Oct 5, 2026
Other
Documents & Disclosures
Disclosures: As Is
Co Selling Agent Information
First Name: Glen
Last Name: Scher
License #: 01962976
Around this home
Schools
Newhall Elementary School
Public K-6 • Assigned • 0.2mi
5/10
Placerita Junior High School
Public 7-8 • Assigned • 0.4mi
6/10
William S. Hart High School
Public 9-12 • Assigned • 0.2mi
9/10
Provided by GreatSchools
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
8/10 Fire Factor
29% chance of being in a wildfire in next 30 years
7/10 Heat Factor
7 days above 98° expected this year, 19 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
6/10 Air Factor
9 unhealthy days expected this year, 13 days in 30 years
Provided by First Street
Historical weather
Newhall, CA • 91321
Average low and high temperatures (°F)
61
44
65
46
68
48
66
47
72
51
78
56
84
60
88
63
81
60
77
53
65
46
66
46
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
75/ 100
Good sunlight
Sunscore
This home receives average direct sun exposure in Newhall. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.