1790-1796 Kelton Ave, Los Angeles, CA 90024

The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 1790 Kelton Avenue, a 4,944 square foot multitenant street retail property situated on 0.16 acres of land (6,793 SF) at the NE corner of Kelton Avenue and the highly trafficked Santa Monica Boulevard with traffic counts in excess of 61,000 vehicles per day in West Los Angeles, CA.
1790 Kelton Avenue, successfully owned for more than four (4) decades, is currently 100% occupied by a variety of retail tenants on short term leases creating a rare value-add or owner-user opportunity at the gateway between Westwood/UCLA and the 405 Freeway. The tenants are on month-to-month or short-term leases with an average remaining lease term of 0.85 years. The current tenancy is paying an average rent of $3.69/SF (or a total monthly rent of $17,813.50) on gross leases, a rent well below market. The property’s units are ideally sized, an average of 543 SF, except for one 1,025 SF unit, which will appeal to a wide range of tenant uses and require minimal capital costs between tenants.
Santa Monica Boulevard is one of Los Angeles’ primary east-west commercial corridors connecting the beach in Santa Monica to the west through the core of Beverly Hills, West Hollywood, Hollywood, and Silver Lake to the east. Because of its exposure to Santa Monica Boulevard and traffic counts in excess of 61,000 VPD, 1790 Kelton Avenue’s full-size, two-sided billboard, owned by the landlord, is an extremely coveted advertising space. To that end, POP Outdoor Media, currently leasing the billboard, recently extended the terms of their lease through 9/30/2026. Since its lease commencement in September 2020, the tenant has leased the advertising space to notable entertainment companies like HBO, Netflix, and Paramount, among others. POP Outdoor Media pays the greater of $84,000 per year or 65% of net advertising revenue. 2023’s net advertising revenue was $370,500. 2024’s net advertising revenue is projected to be $400,000. The landlord’s 65% share is $260,000.
The subject property benefits from excellent visibility and frontage at the corner of Kelton Avenue & Santa Monica Blvd, with approximately 130’ and 51’, respectively. 1790 Kelton Ave is in a highly trafficked pedestrian area with a walk score of 92, a “walker’s paradise”, is well-equipped with access to the 1, 4, 8, 233, and 761 bus lines within a five (5) minute walk, and is less than 0.5 miles east of the 405 Freeway. The property is also supplied with parking in the rear via alley access which can service seven (7) surface parking spaces, a parking ratio of 1.42 spaces per 1,000 SF.