| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 60th | Good |
| Amenities | 69th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24377 Newhall Ave, Newhall, CA, 91321, US |
| Region / Metro | Newhall |
| Year of Construction | 1972 |
| Units | 66 |
| Transaction Date | 2003-01-06 |
| Transaction Price | $4,650,000 |
| Buyer | RYAN PAULA J |
| Seller | NEWHALL TERRACE |
24377 Newhall Ave Multifamily Investment
This 66-unit Newhall property offers suburban rental demand with strong neighborhood-level occupancy at 93.9% and above-average rent growth, according to CRE market data from WDSuite.
This Newhall neighborhood ranks in the top quartile nationally for amenities among 1,441 Los Angeles metro neighborhoods, with strong tenant appeal supported by childcare, dining, and pharmacy access. The area maintains solid fundamentals with 44.4% of housing units renter-occupied, creating a stable rental market that supports consistent demand.
Demographics within a 3-mile radius show household income growth of 29% over five years, reaching a current median of $106,394. Population growth of 0.5% reflects steady demand drivers, while projected household formation through 2028 indicates expanding renter pools that support long-term occupancy stability.
Built in 1972, this property aligns with the neighborhood's average construction year of 1976, suggesting opportunities for value-add improvements and modernization to capture rent premiums. Median contract rents have increased 25% over five years to $1,837, demonstrating pricing power in this suburban Los Angeles submarket.
Home values averaging $872,487 with strong appreciation create elevated ownership costs that reinforce rental demand and sustain multifamily housing reliance. The rent-to-income ratio remains manageable, supporting tenant retention while allowing for strategic rent optimization.
Property crime rates in this Newhall neighborhood show improving trends, with a 22.7% year-over-year decline that ranks above metro median among 1,441 Los Angeles area neighborhoods. Violent crime rates decreased significantly by 64% over the past year, placing the area in the 92nd percentile nationally for crime reduction trends.
Current property offense rates remain moderate relative to the broader Los Angeles metro, while the substantial year-over-year improvement in both property and violent crime metrics suggests strengthening neighborhood conditions that can support tenant retention and leasing velocity.
Major corporate employers within commuting distance provide stable workforce housing demand, anchored by healthcare, pharmaceutical, and technology companies that support professional renter demographics.
- Amerisourcebergen — pharmaceutical distribution (4.7 miles)
- Boston Scientific Neuromodulation — medical devices (6.1 miles)
- Thermo Fisher Scientific — life sciences (12.2 miles)
- Farmers Insurance Exchange — insurance — HQ (13.9 miles)
- Charter Communications — telecommunications (16.3 miles)
This 66-unit Newhall property presents solid suburban multifamily fundamentals with neighborhood-level occupancy at 93.9% and rent growth outpacing metro averages. Built in 1972, the property offers value-add potential through strategic capital improvements while benefiting from strong local employment anchors in healthcare and technology sectors. Demographics within a 3-mile radius show household income growth of 29% over five years, supporting tenant quality and retention.
The investment case centers on stable rental demand reinforced by elevated home ownership costs and improving safety metrics. According to multifamily property research from WDSuite, the neighborhood ranks in the top quartile nationally for amenities while maintaining competitive positioning among Los Angeles metro submarkets.
- Strong occupancy fundamentals with neighborhood-level rate at 93.9%
- Value-add potential through property improvements and modernization
- Stable employment base with major corporate anchors within commuting distance
- Rising household incomes support rent growth and tenant quality
- Monitor competitive pressure from ownership options given suburban location