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$ 11,500,000
Est. payment /mo
New
24377 Newhall AVE Santa Clarita, CA 91321
66 Beds
66 Baths
36,908 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 36,908 sqft
Price per Sqft $311
MLS Listing ID 26105263
Bedrooms 66
HOA Y/N No
Year Built 1972
Lot Size 2.138 Acres
Property Description
We are proud to present Newhall Terrace, 24377 Newhall Avenue, a 66-unit apartment community on a 2.14-acre parcel in the Old Town Newhall neighborhood of Santa Clarita, APN 2830-017-015. Built in 1972, the property is one connected two-story building of 36,908 square feet arranged around two landscaped courtyards, with a lobby entry on Newhall Avenue, 62 parking spaces including carports, and on-site laundry. Every unit is a one-bedroom, one-bath apartment. The offering price is $11,500,000, or $174,242 per unit. The same family has owned the property since 2006. On the December 2026 rent roll, as adjusted in the offering memorandum, the 61 occupied units are scheduled at $102,899 a month against $115,900 at the $1,900 market rent, 13% of upside on the occupied units alone. Two units already rent above $1,900. Water, sewer and trash recovery is upside a new owner can add: the pro forma carries it at $75 per unit per month, about $59,400 a year. Santa Clarita has no local rent stabilization or just cause ordinance, so tenancies follow the statewide rent cap (AB 1482): annual increases of 5% plus inflation, never more than 10%, and vacant units reset to market. Newhall Terrace offers 66 units of scale on land in a walkable town center, with upside on both lines: higher rents as units turn over to the $1,900 market rent, and lower net utility costs once water, sewer and trash are billed back. The property sits on Newhall Avenue at the edge of Old Town Newhall, the historic downtown of the City of Santa Clarita. Main Street's restaurants and shops and the Old Town Newhall Library are 0.25 miles away, and the Newhall Metrolink station is a nine-minute walk, with Antelope Valley Line trains to Los Angeles Union Station. Grocery Outlet is 0.43 miles away and ALDI 0.52 miles. Walk Score rates the address 92, Walker's Paradise. Henry Mayo Newhall Hospital is an eight-minute drive at the morning commute and College of the Canyons ten minutes, with Westfield Valencia Town Center 3.04 miles away. William S. Hart Park is 0.41 miles from the property, and Interstate 5 and State Route 14 are minutes away for commutes to the San Fernando Valley and Los Angeles. The parcel is a Highest Resource tract on California's 2026 AFFH map, in a 2026 HUD Difficult Development Area.
Location
State CA
County Los Angeles
Area New1 - Newhall 1
Zoning SCSP
Interior
Flooring Carpet
Fireplace No
Appliance Refrigerator
Laundry Common Area
Exterior
Parking Features Carport, Uncovered
Pool None
Total Parking Spaces 62
Private Pool No
Building
Lot Description Landscaped
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2830017015
Security Features Resident Manager
Special Listing Condition Standard
Listed by Glen Scher Marcus & Millichap #01962976