1601 Veteran Avenue 301/302, Los Angeles, California 90024, Los Angeles, 90024 - 4 bed, 4 bath
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Los Angeles, California 90024
This Strong Value Opportunity is a Turnkey Income Asset listed at $1,500,000—positioned well below the $1,650,806 Fair Market Value by 9%. This valuation gap offers $150,806 in Instant Equity. Featuring a Condition Rating of 2, these fully renovated penthouse units offer modern finishes and stable cash flow through 2026. Located near Top-Rated Schools like Fairburn Avenue Elementary, this property is an ideal acquisition for Buy-and-Hold Investors or Portfolio Diversifiers seeking immediate, high-yield returns in a prime Westwood location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1601 Veteran Avenue 301/302 Subject | $1,500,000* List Price | 4 | 4 | 2,233 | $739 | - |
A 1519 Westholme Avenue Sold | $1,099,000 | 2 | 3 | 1,902 | $578 | 0.7 mi |
B 10790 Wilshire Boulevard 806 Sold | $1,475,000 | 2 | 3 | 1,692 | $872 | 0.6 mi |
C 10721 Ohio Avenue Sold | $1,625,000 | 3 | 3 | 2,223 | $731 | 0.6 mi |
D 10550 Wilshire Boulevard 505 Sold | $1,525,000 | 2 | 3 | 2,146 | $711 | 1.0 mi |
E 10590 Wilshire Boulevard 1502 Sold | $1,630,000 | 2 | 3 | 2,160 | $755 | 0.9 mi |
F 1613 Manning Avenue 1 Active | $1,149,000 List Price | 2 | 3 | 1,429 | $804 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1971, both units have undergone a comprehensive, top-to-bottom renovation within the last 5 years. The units feature modern kitchens with lacquered maple cabinets, quartz countertops, and LG stainless steel appliances. Systems have been upgraded with ductless A/C, recessed lighting, and in-unit laundry, while the interior boasts newer dual-pane windows and high-end wood/bamboo flooring.
Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
The property offers a robust Gross Scheduled Income of $95,000 annually with both units fully leased through July 2026, providing immediate and stable cash flow for investors.
Boasting a high walkability score near UCLA, Century City, and major freeways, this location ensures consistently high rental demand and long-term capital appreciation.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
Because both units are under lease until mid-2026, the property is not an option for buyers looking for an immediate primary residence, limiting the market to investors.
Despite the interior unit remodels, the 1971 construction may present higher long-term maintenance requirements or potential for future assessments compared to newer luxury developments.
Penthouse Westwood two condos exclusive fully leased income, two bedroom, two bathroom 1,118 sq ft each or 2,233 combined Units #301/#302, total GSI $95k; top of market lease price for each unit #301 $4,000 month and #302 $3950/month; Three subterranean deeded side-by-side parking spaces; Description #301 $4,000 Unbranded video is available under 360 on this listing. Private front balcony Views of the snow-covered mountains and Westwood (UCLA) and Century City from this Penthouse corner PET-FRIENDLY two bedrooms, two baths 1,118 sq. ft. home. Highly walkable/bikeable near Westwood Village, shops, dining, parks, UCLA(1.6 mi) & 405/10 Freeways. Westfield Shopping in Century City, Bev Mo, and more are down the street. Remodeled throughout, including the living room A/C and the in-unit stackable washer and dryer in the primary bedroom closet, beautiful wood flooring throughout, newer dual pane windows and slider, recessed lighting fixtures, and a ceiling fan with light in each bedroom. The kitchen has lacquered finish maple cabinets, quartz counters, new fixtures, an undermount sink, modern cabinet pulls, and LG stainless steel appliances. Building amenities include reserved subterranean parking, private indoor storage closets for each unit, indoor secure bike parking, and a multi-purpose room. Description #302 $3950 Penthouse back inside corner, two bedrooms, two baths 1,118 sq. ft. with inside washer/dryer on the quiet backside of this three-story Veteran Ave property Penthouse unit with a city view and elevator to the top plus back stairs to the garaged secured parking. Modern condo with top-to-bottom improvements; one shared wall with unit #301. It is a genuine opportunity in a highly sought-after location. Engineered bamboo flooring throughout. Milgard dual pane windows and slider & ductless A-C system. Recessed lighting, fixtures, and fans. Bathrooms with tile flooring, bamboo veneer vanities, quartz counters, plumbing fixtures, and enclosures. The modern kitchen has lacquered finish maple cabinets, quartz counters, newer fixtures, an undermount sink, modern pulls, and all LG stainless steel appliances.Washer and Dryer in the home and two parking spaces in subterranean gated parking. Two penthouse income condo units #301 $4,000//(#302// $3950/mo//Lease thru 7/14/26 // annually; Operating expenses including HOA fees of $488 per unit OR $976 FOR THE TWO//Tenants pay lease payments through innago.com
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 0.9 mi
Grades K-5 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 2.0 | 96% |
| Baths | 4.0 | 3.0 | 82% |
| Square foot | 2,233 | 1,721.5 | 71% |
| Lot Size | 8,011 | 34,697.5 | 11% |
| Price | $1.50M | $1.21M | 63% |
| Price per sq ft | $672 | $734 | 35% |
| Built year | 1971 | 1981 | 20% |
| HOA | $488.0 | $1.9K | 7% |
| Days on market | 18 | 145 | 1% |
May 19, 2026
$1,500,000
Initial Listing
Feb 21, 2017
$1,175,000
Public Record
Jan 27, 2016
$800,500
Public Record