24802 & 24806 Walnut St

Highlights:

• First time on the market in nearly 50 years, built and held by the same family since 1978
• Seven units across two APNs, so residential financing may apply
• Five two-car garages on site present an ADU conversion path for an incoming owner

Description:

The LAAA Team of Marcus & Millichap presents 24802 & 24806 Walnut Street, 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.