| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 42nd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24969 Walnut St, Newhall, CA, 91321, US |
| Region / Metro | Newhall |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2021-02-03 |
| Transaction Price | $5,365,500 |
| Buyer | NEWHALL BLISS LLC |
| Seller | XENON INVESTMENT CORP |
24969 Walnut St Newhall Multifamily Investment
This 24-unit property built in 1974 offers value-add potential in a neighborhood with high rental demand and strong commercial real estate analysis fundamentals. Neighborhood occupancy rates at 94.6% and 69.3% rental share support stable tenant retention, according to WDSuite's CRE market data.
This Newhall neighborhood ranks in the top quartile nationally for amenity access, with exceptional restaurant and cafe density supporting tenant appeal. The area maintains 94.6% occupancy rates with a 69.3% rental share, indicating strong rental demand fundamentals. Median contract rents of $1,807 rank in the 88th percentile nationally, while the neighborhood's B+ rating reflects balanced investment conditions.
Demographics within a 3-mile radius show a stable tenant base with median household income of $107,372 and moderate population growth. The area's 40% rental tenure supports consistent demand, while forecast household growth of 37% through 2028 suggests expanding renter pools. Rising median rents from $1,587 to a projected $2,948 indicate strong pricing power potential.
Built in 1974, this property aligns with the neighborhood's average construction vintage, presenting opportunities for strategic capital improvements and modernization to capture rent premiums. The area's amenity density ranks 210th among 1,441 metro neighborhoods, with grocery stores and childcare facilities supporting family-oriented tenant retention.
Crime metrics show the neighborhood performing near metro averages, ranking 884th among 1,441 Los Angeles metro neighborhoods. Property offense rates have declined 20.4% year-over-year, while violent crime decreased 16.1%, indicating improving safety trends that support tenant retention and property values.
The neighborhood's 47th percentile national ranking for overall crime reflects moderate safety conditions typical of urban core areas. Investors should monitor ongoing crime reduction trends as they contribute to long-term occupancy stability and renewal rates.
The area benefits from proximity to diversified corporate employment, with healthcare, insurance, and technology companies providing stable workforce housing demand within commuting distance.
- Amerisourcebergen — healthcare services (3.9 miles)
- Boston Scientific Neuromodulation — medical technology (5.4 miles)
- Thermo Fisher Scientific — life sciences (12.7 miles)
- Farmers Insurance Exchange — insurance — HQ (14.5 miles)
- Charter Communications — telecommunications (17.1 miles)
This 24-unit property offers compelling value-add potential in a stable rental market with 94.6% neighborhood occupancy and strong demographic fundamentals. The 1974 construction year presents opportunities for strategic renovations to capture rent growth, while the area's high rental share of 69.3% indicates sustained tenant demand. Forecast household growth of 37% through 2028 supports long-term occupancy stability.
According to multifamily property research from WDSuite, the neighborhood's amenity density and improving safety trends create favorable conditions for tenant retention. Rising median rents from $1,587 to projected $2,948 demonstrate significant pricing power potential, though investors should plan for capital expenditures typical of properties approaching 50 years of age.
- Strong rental fundamentals with 94.6% neighborhood occupancy and 69.3% rental share
- Value-add opportunity through strategic renovations of 1974-vintage property
- Forecast 37% household growth supporting long-term tenant demand
- Risk consideration: Property age requires capital expenditure planning for major systems