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$ 8,500,000
Est. payment /mo
Active
423 Kelton Avenue Los Angeles, CA 90024
18,150 SqFt
UPDATED:
01/27/2025 09:39 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 18,150 sqft
Price per Sqft $468
MLS Listing ID CL25483413
HOA Y/N No
Year Built 1987
Lot Size 7,589 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
423 Kelton Avenue, a 15-unit multifamily property in Westwood Village. This investment opportunity features a desirable mix of 9 two-bedroom/two-bath, 3 one-bedroom/one-bath, and 3 studio units, catering to a diverse tenant base. Built in 1987, the property is exempt from Los Angeles City Rent Control, allowing for significant rental growth potential. With 6 vacant units, this presents an ideal value-add opportunity for investors to implement a renovation program, upgrade units with high-end finishes, and maximize rental income. Situated in the highly sought-after Westwood Village neighborhood, residents enjoy close proximity to UCLA, renowned dining and shopping options, entertainment venues, and major employment centers. Premium amenities include controlled access, a spacious lobby with an office, gated on-grade and subterranean parking with 25 spaces, and on-site laundry facilities. Westwood Village boasts a robust rental market driven by strong demand from students, professionals, and families, with continued growth in population, employment, and economic activity. This prime location in one of Los Angeles' most desirable neighborhoods offers excellent long-term appreciation potential.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 4363003019
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Listed by Jeffrey Louks • Marcus & Millichap