Offering

The Offering

The LAAA Team of Marcus & Millichap presents 24513-24519 Walnut Street, a 3-unit property on a 0.22-acre parcel in Santa Clarita. The buildings total 2,364 SF and date to 1954. In-place rent runs $70,800 against $81,420 on a pro forma basis, moving the return from a 15.47 GRM to 13.45 and the cap rate from 4.27% to 5.24% once rents reset. At three units the buyer can use residential financing, and the Old Town Newhall location carries the site.

1. 01

   Three units, residential financing applies

2. 02

   0.22-acre parcel in Old Town Newhall

3. 03

   Rent upside from $70,800 to $81,420 pro forma

4. 04

   Cap rate moves 4.27% to 5.24% on reset

5. 05

   Walkable to the Old Town Newhall corridor

6. 06

   No local rent control, subject to AB 1482