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Listed by Kirk Schilling • Rise Realty
$1,249,000
Est. payment /mo
9,382 Sqft Lot
Active
24513 Walnut Newhall, CA 91321
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26004115
Year Built 1954
Lot Size 9,382 Sqft
Property Sub-Type Triplex
Source California Regional MLS
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 California's chronic housing shortage. W
Location
State CA
County Los Angeles
Area Dnew - Downtown Newhall
Interior
Heating No Heating
Cooling None
Laundry None
Exterior
Garage Spaces 3.0
Pool None
Building
Water District - Public
Others
Tax ID 2831005003
Special Listing Condition Not Applicable
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