| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 42nd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24851 Walnut St, Newhall, CA, 91321, US |
| Region / Metro | Newhall |
| Year of Construction | 1977 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
24851 Walnut St, Newhall CA — 1977 Multifamily With Value-Add Upside
Neighborhood-level occupancy is solid and renter demand is supported by elevated renter concentration in this Los Angeles metro pocket, according to WDSuite’s CRE market data. For investors, the stability signal at the neighborhood level points to steady leasing with room to optimize operations over time.
Situated in Newhall within the Los Angeles-Long Beach-Glendale metro, the immediate neighborhood scores competitively on day-to-day convenience. Amenity access ranks in the top quartile among 1,441 metro neighborhoods, with dense restaurant, cafe, grocery, and pharmacy coverage compared with national averages. Average school ratings trend slightly above national norms, which can support family-oriented renter retention.
The property’s 1977 vintage is newer than the surrounding neighborhood’s average construction year (1966). That relative youth can help competitive positioning versus older stock, though investors should still plan for system upgrades and selective renovations typical of late-1970s assets to sustain rentability and control long-term capital expenditure.
Tenure dynamics are a key demand indicator: the neighborhood shows a high share of renter-occupied housing units (a top national percentile), signaling depth in the tenant base and supporting occupancy. Within a 3-mile radius, tenure skews more owner-occupied, which can moderate competitive pressure from nearby rentals while still drawing renters seeking proximity to amenities and employment.
Demographic statistics aggregated within a 3-mile radius point to a larger, higher-income household base relative to many U.S. areas. Forecasts show household counts increasing alongside smaller average household sizes, which typically expands the renter pool and supports occupancy stability, even as regional population growth may be slower. Elevated home values locally, alongside strong amenities, tend to sustain reliance on multifamily housing and can help pricing power when managed carefully.
Safety indicators for the neighborhood sit near the national middle overall, with both violent and property offense rates positioned around the lower half of national percentiles. Recent year-over-year trends show declines in estimated violent and property offenses, which is constructive for renter perceptions and lease retention.
Investors should view safety in comparative terms across the Los Angeles metro and track trend direction over levels. Continued improvement would be supportive of stable operations; conversely, any reversal could create incremental leasing friction and should be monitored as part of ongoing risk management.
The area benefits from a diverse employment base spanning healthcare, life sciences, insurance, media, and communications — a mix that supports renter demand through commute convenience and diversified incomes. Nearby anchors include AmerisourceBergen, Boston Scientific Neuromodulation, Thermo Fisher Scientific, Farmers Insurance, and Charter Communications.
- AmerisourceBergen — pharmaceuticals distribution (4.1 miles)
- Boston Scientific Neuromodulation — medical devices (5.6 miles)
- Thermo Fisher Scientific — life sciences offices (12.5 miles)
- Farmers Insurance Exchange — insurance (14.4 miles) — HQ
- Charter Communications — telecommunications (16.9 miles)
This 33-unit, 1977 asset offers a balanced value-add and income thesis. Neighborhood occupancy trends are above the national median with a high renter-occupied share, and amenity density is competitive within the Los Angeles metro — factors that generally support leasing stability and operational consistency. Elevated local home values reinforce renter reliance on multifamily housing, while 3-mile household growth and smaller household sizes point to a gradually expanding tenant base and sustained demand.
According to CRE market data from WDSuite, the neighborhood’s convenience profile and NOI per unit benchmarks are strong versus national norms. Given the late-1970s vintage, prudent capital planning around interiors, common areas, and building systems can unlock rent and retention gains while preserving competitiveness against older stock nearby. Key watch items include broader metro safety trends and any softening in regional growth, which should be monitored but currently do not outweigh the submarket’s demand drivers.
- Competitive amenity access and solid neighborhood occupancy support steady leasing
- Elevated home values sustain rental demand and pricing power with careful lease management
- 1977 vintage offers value-add potential through targeted renovations and system upgrades
- 3-mile household growth and smaller household sizes indicate a broader renter pool over time
- Risk: monitor safety and macro growth trends that could affect leasing velocity and retention