Listing provided courtesy of Jeffrey Louks of Marcus & Millichap. Last updated 2025-02-04 09:11:18.000000. Listing information © 2024 CRMLS.
Asking Price: $8,500,000
423 Kelton, Los Angeles CA 90024
Community: C05 - Westwood - Century City
Status: Active
This property was built in 1987 and is priced at $8,500,000. Please see the additional details below.
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.