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1738 Kelton Ave, Los Angeles, CA 90024
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1738 Kelton Ave Los Angeles, CA 90024

$3,775,000 Sold Price as of 03/21/2024
  • 16 Beds
  • 12 Baths
  • 4,925 Sq.Ft.
Sold
$3,775,000 Sold Price as of 03/21/2024 Refinance Your Mortgage
Map preview of 1738 Kelton Ave, Los Angeles, CA 90024

Property Overview: 1738 Kelton Ave Los Angeles, CA has 16 bedrooms, 12 bathrooms, 4,925 living square feet and 6,835 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Rare Student Housing Investment Opportunity in Westwood 1.5 Miles from UCLA. Four Units, 16 Bedrooms, Fully Furnished. Turnkey, Stabilized Asset at a 6.07% CAP Rate on Current Income. Rare student housing investment opportunity in a prime Westwood location Recently renovated duplex and two newly built ADU's with in unit washers and dryers.16 fully furnished and fully occupied bedrooms. Units are rented by the bedspace. Opportunity for higher rents in the peak summer quarter. Strong in-place cash flow 6.07% CAP rate and 12.00 GRM. Walking distance to Westwood Village, UCLA campus, and local amenities. Amenities include Bristol Farms, 99 Ranch Market, Equinox Westwood, Whole Foods, and Sprouts Farmers Market. Unique opportunity student housing investments rarely come available in Westwood.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 8 minutes ago | Last updated: March 22nd, 2024 | Source CRMLS | DOM: 51

Home details

Lot Sq. Ft
6,835
HOA Dues
$0/mo
Year built
1936
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
24349441
City
Los Angeles
County
Los Angeles
Time on Site
158 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $10,860
  • Total Rent: $10,860
  • Pro Forma/Market Rent: $11,100
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 5
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $16,875
  • Total Rent: $16,875
  • Pro Forma/Market Rent: $17,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.07%
  • Gross Rent Multiplier: 12
  • Gross Scheduled Income: --
  • Net Operating Income: $242,621
  • Gross Operating Income: $322,835
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1738 Kelton Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 4
  • Parcel Number: 4324028005
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 1738 Kelton Avenue is located just off of Massachusetts Ave between Santa Monica Blvd and Wilshire Blvd
View more facts & features

Local Los Angeles Agent

Sale History for 1738 Kelton Ave

Last sold for $3,775,000 on March 21st, 2024

  • March, 2024

  • Mar 21, 2024

    Date

    Sold

    CRMLS: 24349441

    $3,775,000

    Price

  • Jan 8, 2024

    Date

    Active

    CRMLS: 24349441

    $3,995,000

    Price

  • July, 2022

  • Jul 1, 2022

    Date

    Sold

    CRMLS: 22160751

    $2,500,000

    Price

  • May 25, 2022

    Date

    Active

    CRMLS: 22160751

    $2,290,000

    Price

  • Listing provided courtesy of CRMLS

    Charming 1930s Original Spanish style duplex. 2 Large Units. This opportunity presents an ideal income property for either an owner-user, or an investor/developer looking to acquire a rare value-add asset. Property is zoned LAR2, big lot. Unit 1738 is a single story that has been remodeled w/gourmet-style kitchen; 2 bedrooms & 1.75 baths. Upstairs, unit 1740, floor-through bright unit, bathrooms have been updated. Close to UCLA, cafes, shops and theaters as well as Westwood Library, public transportation, top-rated schools and multiple houses of worship. A rare opportunity in this prime Westwood location, both units have hardwood floors, separate laundry, formal dining rooms and designated/ample 2 car garages. Must see property! Both units will be delivered vacant at close of escrow.

  • May, 2003

  • May 2, 2003

    Date

    Sold (Public Records)

    Public Records

    $899,000

    Price

  • November, 1993

  • Nov 1, 1993

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1738 Kelton Ave

Assessed Value (2020): $1,190,550
Year Land Value Improved Value Assessed Value
2020 $991,910 $198,640 $1,190,550

Home Value Compared to the Market

This property vs the competition

1738 Kelton Ave sold on March 21, 2024 for 253.54% higher than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $811.17 per/sqft which puts the price per square foot 7.58% higher than the current median sale per square foot for the city of Los Angeles.

About 1738 Kelton Ave

Detailed summary of property

1738 Kelton Ave is a multi family that recently sold in Los Angeles, CA 90024. This multi family property offered 16 bedrooms, 12 bathrooms, roughly 4,925 living square feet, and sits on an approximately 6,835 square foot lot. 1738 Kelton Ave was first listed on ArdentRealEstateGroup.com on January 24, 2024. The homeowner sold the property for $3,775,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 253.54% higher than the current median priced home. Local homes that are currently for sale include 3544 Vinton Ave, 3749 Westwood Blvd and 3758 Inglewood Blvd. While the average home in Los Angeles, CA is selling in 99 days, 1738 Kelton Ave has a days on market of 51 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 1738 Kelton Ave Los Angeles, CA 90024 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1738 Kelton Ave

Public county record property details
Beds
4
Baths
2
Year built
1936
Sq. Ft.
3,165
Lot Size
6,833
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
4324-028-005

The source for these homes facts are from public records.

90024 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,395,000
Median List Price/Sq.Ft.
$825
Median Sold Price
$1,325,000
Median Sold Price/Sq.Ft.
$793
Total Inventory
175
Median Sale to List Price %
98.22%
Avg Days on Market
46
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (24%), Other (8%)

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Recently Sold Homes Near 1738 Kelton Ave

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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