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Mark Piga

mark@markpigahomes.com +1(858) 367-0068

$ 11,500,000

Est. payment | -/mo

66 Beds

66 Baths

36,908 SqFt

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$ 11,500,000

Est. payment | -/mo

Save

66 Beds

66 Baths

36,908 SqFt

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

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Glen Scher Marcus & Millichap #01962976

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(858) 367-0068

mark@markpigahomes.com

24377 Newhall AVE Santa Clarita, CA 91321

Mark Piga

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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24377 Newhall AVE