Offering

The Offering

The LAAA Team of Marcus & Millichap presents 24846 Walnut Street, a 16-unit apartment community in Santa Clarita. Built by the same family in 1985 and now offered by the original owner's children, the property holds 15,656 SF on 0.55 acres. The mix weights toward one- and two-bedroom plans averaging 979 SF, well above the typical workforce unit in this submarket. In-place rents trail market across most of the mix against a 5.13% going-in cap rate.

1. 01

   First time on the market in nearly 40 years

2. 02

   Units average 979 SF, well above the submarket norm

3. 03

   Original family ownership since 1985

4. 04

   In-place rents below market across most of the mix

5. 05

   5.13% going-in cap rate

6. 06

   No local rent control, subject to AB 1482