423 Kelton Ave - Apartments FOR SALE


Los Angeles, CA 90024
$8,500,000 USD
310-941-5899
423 Kelton Ave, Los Angeles, CA for Sale
$8,500,000 USD
Apartments - FOR SALE
1/10
null | 4.33% Cap Rate

423 Kelton Ave
Los Angeles, CA 90024


HIGHLIGHTS

  • Prime Westwood Village Location
  • Built in 1987, Not Subject to LA City Rent Control
  • Property Will be Delivered With 6 Vacant Units
  • Central A/C, Gated On-Grade and Subterranean Parking (28 Spaces), On-Site Laundry
  • First Time on The Market in 35+ Years

OVERVIEW

Marcus & Millichap and Golden Lake Realty are excited to present 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 28 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. *** Buyer's Agent to be compensated by Buyer***

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$468 USD /SF

# OF UNITS

15

PRICE/UNIT

$566,667

CAP RATE

4.33%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1987

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,588 SF

ZONING

-

APN/PARCEL ID

4363-003-019

ASK ABOUT THIS PROPERTY

Jeff LouksMarcus & MillichapMore Info
310-941-5899

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Jeff LouksMarcus & MillichapMore Info
310-941-5899

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.