9
See all 9 photos
$1,249,000
Est. payment /mo
5 Beds
9,382 Sqft Lot
New
24513 Walnut Newhall, CA 91321
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Custom Downtown Newhall (Cdnew)
MLS Listing ID OC26004115
Bedrooms 5
Lot Size 9,382 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
24513-24519 Walnut Street presents a rare infill development opportunity for builders and investors seeking to maximize density and long term returns in a supply constrained California market. Currently improved with a duplex and one single standing unit, the site offers immediate income while positioning a future developer to significantly enhance value through redevelopment. The property allows for construction up to three stories, and when combined with SB 79 transit oriented allowances, a developer can pursue an exceptional apartment or condominium project with little to no parking requirements. This creates a meaningful cost savings while unlocking the ability to maximize rentable square footage, unit count, and overall project efficiency. Reduced parking obligations alone dramatically improve feasibility, design flexibility, and return on investment. SB 79 further strengthens the opportunity by streamlining entitlement risk and limiting discretionary local barriers for qualifying projects, making this site especially attractive for by right or near by right development. The ability to build vertically in a well located urban setting allows for modern unit layouts, strong rental demand, and long term appreciation supported by Californias chronic housing shortage. Whether held as a cash flowing asset in the near term or repositioned into a next generation multifamily or condominium development, 24513-24519 Walnut Street offers developers a rare combination of zoning flexibility, regulatory tailwinds, and upside potential. This is the type of property that allows smart c
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Middle property on corner of Walnut and Lyons Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 2831005003
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Kirk Schilling Rise Realty
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