| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 62nd | Good |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 Kelton Ave, Los Angeles, CA, 90024, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1985 |
| Units | 74 |
| Transaction Date | 1995-04-19 |
| Transaction Price | $2,063,000 |
| Buyer | WARREN CLIFTON R |
| Seller | CHEN ANNA LEE |
424 Kelton Ave Los Angeles Multifamily Investment
Investor focus: high renter concentration in a high-cost ownership pocket supports durable renter demand, according to WDSuite's CRE market data, though lease management should account for local affordability pressure.
Located in Los Angeles County's Urban Core, the neighborhood rates competitive among Los Angeles-Long Beach-Glendale, CA neighborhoods (118 of 1,441), with strong daily-life convenience. Amenity access is a clear strength, with restaurant, cafe, grocery, and pharmacy density all well above national norms, supporting renter appeal and retention. Park access trends above average nationally, adding to livability.
Neighborhood housing dynamics show a high share of renter-occupied units (renter concentration near the top of national comparisons), indicating a deep tenant base for multifamily. By contrast, neighborhood occupancy levels trend below national averages; investors should underwrite for active leasing and renewals to maintain stability at the asset level. Median home values rank near the top nationally, signaling a high-cost ownership market that tends to sustain reliance on rental housing and can support pricing power.
Within a 3-mile radius, demographic statistics indicate a relatively affluent renter pool and smaller household sizes, with households expected to increase through 2028. This projected growth, coupled with rising incomes, points to a larger tenant base over time and supports long-run demand for professionally managed rentals. Recent rent levels and growth are elevated for the neighborhood versus national benchmarks; effective leasing strategies should balance rent positioning with retention to manage affordability pressure.
For investors conducting multifamily property research, neighborhood NOI per unit performance is among the stronger performers nationally, based on CRE market data from WDSuite. Vintage across the area skews late-1970s on average; a 1985 asset can compete well against older stock while benefiting from targeted modernization to meet current renter expectations.
Safety indicators are mixed in comparative terms. Overall crime sits above the national midpoint (around the 60th percentile nationally), while violent and property offense rates compare less favorably to national peers. Importantly, recent year-over-year trends show notable declines in both violent and property offense rates, according to WDSuite's CRE market data, which investors can view as a constructive directional signal rather than a guarantee.
At the metro scale of 1,441 neighborhoods, conditions vary block to block, so investors should pair these neighborhood-level readings with standard on-the-ground diligence and property-level security planning to support resident experience and retention.
Proximity to diversified employers supports renter demand and commute convenience, notably in energy, engineering, entertainment, and gaming: Occidental Petroleum, AECOM, Activision Blizzard Studios, Live Nation Entertainment, and Activision Blizzard.
- Occidental Petroleum — energy (0.9 miles) — HQ
- AECOM — engineering & infrastructure (2.3 miles) — HQ
- Activision Blizzard Studios — entertainment & gaming (3.1 miles)
- Live Nation Entertainment — live entertainment (3.2 miles) — HQ
- Activision Blizzard — gaming (3.5 miles) — HQ
424 Kelton Ave is a 74-unit 1985 multifamily asset positioned in a high-cost ownership pocket of Los Angeles where renter concentration is elevated and amenities are abundant. The vintage is newer than the neighborhood average, offering relative competitiveness versus older stock; investors should still plan for building system modernization and selective renovations to meet current renter preferences. Within a 3-mile radius, households are projected to grow and incomes are trending higher, expanding the tenant base and supporting occupancy stability over the long term.
Neighborhood signals show strong amenity access and historically solid per-unit NOI performance compared with national peers, according to CRE market data from WDSuite. Counterbalancing factors include neighborhood occupancy trending below national norms and higher rent-to-income ratios, which call for careful pricing, renewal strategies, and amenity-driven retention. The property's larger average unit sizes may aid lease duration and resident satisfaction when paired with professional management.
- Newer 1985 vintage relative to local stock, with targeted modernization potential
- High-cost ownership market reinforces multifamily demand and supports pricing power
- Strong amenity density and diversified nearby employers support leasing and retention
- Larger average unit sizes provide a potential retention edge for families and sharers
- Risks: below-average neighborhood occupancy and higher rent-to-income ratios require active lease management