| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 60th | Good |
| Amenities | 69th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24724 Valley St, Newhall, CA, 91321, US |
| Region / Metro | Newhall |
| Year of Construction | 1987 |
| Units | 80 |
| Transaction Date | 1998-01-06 |
| Transaction Price | $4,800,000 |
| Buyer | SUSSEX PALMDALE LLC |
| Seller | REDFERN THOMAS W |
24724 Valley St Newhall Multifamily Investment, 1987 Vintage
Neighborhood occupancy remains solid and ownership costs are high for Los Angeles County, supporting durable renter demand around 24724 Valley St, according to WDSuite’s CRE market data. This positioning favors steady leasing with room for value-add execution rather than reliance on outsized growth.
The neighborhood scores competitive among Los Angeles-Long Beach-Glendale, CA areas (ranked 372 of 1,441), indicating balanced fundamentals for workforce and middle-income renters. Amenity access sits above national average (around the 65–70th percentiles for restaurants, pharmacies, and overall amenities), translating to day-to-day convenience that can aid retention without commanding luxury rents. Median home values sit in a high-cost ownership market (96th percentile nationally), which typically sustains reliance on multifamily housing and supports pricing power for well-managed assets, per commercial real estate analysis informed by WDSuite.
For context, the neighborhood’s occupancy is 93.9% (neighborhood-level), trending in line with regional stability. Renter-occupied share is approximately mid-40s, indicating a meaningful renter base without being dominated by rentals; for investors, this suggests depth of demand alongside some competition from ownership. Median contract rents and household incomes benchmark above national norms, and a rent-to-income ratio near the low-20% range implies moderate affordability pressure, which can help lease management and renewal strategies.
Demographic statistics aggregated within a 3-mile radius show a largely stable population in recent years, while household counts edge higher. Looking ahead, households are projected to increase meaningfully through the forecast period even as population trends modestly lower, pointing to smaller household sizes and a broader renter pool. An upper-income profile and rising incomes in the 3-mile area further underpin demand for professionally managed, well-maintained multifamily product and support occupancy stability.
Vintage matters for competition: the asset’s 1987 construction is newer than the neighborhood’s average vintage (late-1970s). That positioning can help against older stock while still offering scope for targeted modernization (exteriors, systems, and interiors) to capture value-add upside and strengthen leasing velocity relative to dated comparables.
Safety conditions compare favorably in a metro context: the neighborhood’s crime rank sits above the Los Angeles metro median (ranked 611 of 1,441), and it places above average nationally (around the 62nd percentile). Recent trends show year-over-year declines in both property and violent offense rates, which, if sustained, can support tenant retention and investor confidence without implying block-level guarantees.
Proximity to diversified employers supports commute convenience and leasing stability, with healthcare, life sciences, insurance, and telecom offices within a manageable radius. The list below reflects nearby demand drivers most relevant to the renter base.
- AmerisourceBergen — healthcare distribution (4.5 miles)
- Boston Scientific Neuromodulation — medical devices (6.0 miles)
- Thermo Fisher Scientific — life sciences (11.9 miles)
- Farmers Insurance Exchange — insurance (13.8 miles) — HQ
- Charter Communications — telecom offices (16.6 miles)
This 80-unit, 1987-vintage property in Newhall benefits from a high-cost homeownership backdrop and a neighborhood occupancy rate that supports steady leasing, based on CRE market data from WDSuite. The asset is relatively newer than the local average vintage, offering a competitive edge versus older stock while preserving value-add potential through selective upgrades to systems and interiors.
Neighborhood-level rents and incomes trend above national norms while rent-to-income remains manageable, supporting retention and disciplined rent growth. Within a 3-mile radius, households are expected to rise even if population eases, implying smaller household sizes and a broader renter pool — dynamics that can reinforce occupancy stability for well-operated multifamily communities.
- High-cost ownership market sustains renter reliance and supports pricing power for well-managed assets.
- 1987 construction offers competitive positioning versus older stock, with clear value-add/modernization pathways.
- Neighborhood occupancy and diversified nearby employers support leasing durability and retention.
- 3-mile household growth and rising incomes expand the renter pool, aiding long-term demand.
- Risks: modest population drift lower and ongoing capex needs typical of 1980s assets could affect pace of rent lifts.