Logan Ward
Associate
CalDRE #02200464
24377 Newhall Ave, Santa Clarita, CA 91321
24377 Newhall Ave
Exclusively listed by the LAAA Team at Marcus & Millichap
- Listing Price
- $11,500,000
- Cap Rate
- 6.54%
- Units
- 66
- GRM
- 8.56
- Price / Unit
- $174,242
- Price / SF
- $311.59
- Gross SF
- 36,908 SF
- Year Built
- 1972
Offering
Offering Overview
The LAAA Team of Marcus & Millichap is pleased 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. 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 same family has owned the property since 2006, and the rents show it: on the December 2026 rent roll, as adjusted in the OM's Note 1, the 61 occupied units are scheduled 13% below the $1,900 market rent, and two units already rent above $1,900. The owner pays every utility and bills nothing back today. Santa Clarita has no local rent stabilization or just cause ordinance, so tenancies follow the statewide rent cap (AB 1482), and vacant units reset to market.
- 01
13% Rental Upside. The 61 occupied units are scheduled at $102,899 a month on the December 2026 roll (OM Note 1) against $115,900 at market.
- 02
Utility Recovery to Add. The owner pays all utilities and bills nothing back; the pro forma adds water, sewer and trash recovery at $75 per unit.
- 03
No Local Rent Ordinance. Santa Clarita follows the statewide rent cap (AB 1482), with no city rent registry or just cause ordinance.
- 04
66 Units on 2.14 Acres. One connected two-story building around two landscaped courtyards on a 93,152 square foot parcel.
- 05
Old Town Newhall. Main Street 0.25 miles away and the Newhall Metrolink station a nine-minute walk; Walk Score 92.
- 06
62 Parking Spaces. Carports and open stalls along the parking drive, behind a lobby entry on Newhall Avenue.
- 07
Owned Since 2006. The same family has owned the property for twenty years.
Gallery
Inside the Offering
24377 Newhall Ave, Santa Clarita, CA 91321
Location
Location Overview
24377 Newhall Ave, Santa Clarita, CA 91321
Newhall Terrace 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. 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, and Interstate 5 and State Route 14 are minutes away for commutes to the San Fernando Valley and Los Angeles.
Listing Team
Exclusively listed by the LAAA Team.
For offering materials, financials, or offer guidance, reach out directly.
Glen Scher
Senior Managing Director Investments
CalDRE #01962976
Glen Scher
Senior Managing Director Investments
CalDRE #01962976
Filip Niculete
Senior Managing Director Investments
CalDRE #01905352
Filip Niculete
Senior Managing Director Investments
CalDRE #01905352
Next Step
Ready to dig into the financials?
Sign the Confidentiality Agreement to access the full Offering Memorandum for 24377 Newhall Ave, Santa Clarita, CA 91321.
