423 Kelton Avenue

Los Angeles, CA 90024

$8,500,000

List Price

21

bed Beds

24

shower Baths

18,150 sqft

straighten / sqft

1987

calendar_month Built

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.

Listing Information

List Price $8,500,000
Status Active
MLS 25483413
Type Residential Income
Year Built 1987
Lot Size 7,589
Structure Size 18,150
DOM 12
Courtesy Of Marcus & Millichap
Listing Agent Jeffrey Louks DRE#00908473
Co-Listing Agent Mark Chi DRE#01126251

Interior Features

Total Bedroom
Bedrooms 21
Total Bathroom
Bathrooms 24
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Jeffrey Louks, Mark Chi, Marcus & Millichap 818-212-2780. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 27th, 2025 at 8:55 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.