Castaic Lake Apartments 31701 Ridge Route Rd 33 Unit Apartment Building $10,507,875 CAD ($318,420 CAD/Unit) 5.64% Cap Rate Castaic, CA 91384

Contact: Logan Ward - logan.ward@marcusmillichap.com - Available as a portfolio or on an individual property. Please reach out directly for due diligence on the properties.
The LAAA team is proud to present 31701 Ridge Route Road, a 33-unit apartment community in the heart of the Santa Clarita Valley, being offered to the open
market for the first time in nearly 40 years. The property was built and owned by the same family since its development in
1986 and 1988, and is now being offered by the original owner’s children. The property has a proven track record and has
been well-maintained throughout it's history.
The property comprises 33 residential units across 27,360 rentable square feet on a 1.34-acre site. The unit mix skews
toward functional one- and two-bedroom floor plans- the bread and butter of the Santa Clarita Valley workforce renter-
with units averaging 829 square feet. In-place rents trail current market rates by a meaningful margin, and five units are
currently vacant, providing an incoming owner with an immediate opportunity to begin capturing market rents at close.
Situated along the I-5 corridor approximately 35 miles north of downtown Los Angeles, Castaic occupies a meaningful
geographic and economic position as the northern gateway to the Santa Clarita Valley. The location gives residents direct
freeway access to Santa Clarita’s employment base to the south and to the broader Los Angeles metro beyond- all without
the congestion and cost of living that define closer-in neighborhoods. Castaic Lake and the surrounding recreation corridor
add a quality-of-life dimension that sets this community apart and contributes to the stable, deeply rooted residential
character that has defined this property over nearly four decades of family ownership.