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.
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 capital to move quickly, reduce friction, and create lasting value.
Property Type(s):
Residential Income
|
Last Updated
|
1/13/2026
|
Tract
|
Custom Downtown Newhall (CDNEW)
|
|
Year Built
|
1954
|
Community
|
DNEW - Downtown Newhall
|
|
Garage Spaces
|
3.0
|
County
|
Los Angeles
|
Additional Details
| AIR |
None |
| AREA |
DNEW - Downtown Newhall |
| GARAGE |
Yes |
| HEAT |
None |
| LOT |
9383 sq ft |
| LOT DIMENSIONS |
9382 |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| SUBDIVISION |
Custom Downtown Newhall (CDNEW) |
| WATER |
Public |
Location
Listed with Rise Realty
Based on information from CRMLS as of 2/21/26 10:18 PM PST. The information being provided by CRMLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CRMLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
This IDX solution is (c) Diverse Solutions 2026.
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