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Listed by Chris Habitz • Howard Realty Group
$ 3,500,000
Est. payment | /mo
8,730 SqFt
$ 3,500,000
Est. payment | /mo
8,730 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,730 sqft
Price per Sqft $400
MLS Listing ID CRBB25229225
HOA Y/N No
Year Built 1979
Lot Size 0.278 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
We are pleased to present the opportunity to acquire 24522 Chestnut St., a prime multifamily investment opportunity located in the heart of Newhall, just steps from Santa Clarita's rapidly redeveloping Old Town Newhall District - one of the city's most vibrant and in-demand rental markets. This well-maintained, eight-unit apartment building was constructed in 1979 and features spacious two-bedroom, one-bathroom units averaging approximately 1,091 square feet. Each unit offers a comfortable living space that appeals to long-term tenants seeking proximity to schools, shopping, dining, and entertainment in a central, walkable location. Notably, the property is not subject to the Los Angeles Rent Stabilization Ordinance (RSO) due to its construction date and is instead governed by California's AB 1482, which allows for more favorable annual rent increases compared to older, rent-controlled assets. Brokers and their agents provide no warranties or representations about the Property's condition, and both Buyer and Seller should rely on their own investigations.
Location
State CA
County Los Angeles
Interior
Heating Forced Air
Fireplace No
Laundry Common Area, Other
Building
Lot Description Corner Lot, Other
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Adam Shoop
Broker Associate at LPT Realty | Lic# 1782227