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    Two Penthouse Condo Units Title is generated by Realmo AI

    1601 Veteran Avenue, Los Angeles, CA 90024

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    Claim this Listing
    For Sale
    $1,500,000

    Condominium, Contemporary - Los Angeles, CA

    Type:Condominium
    Property size:
    2,233 SF
    Lot size:
    8,011.00 Acres
    Price / SF:
    $671/SF
    Added:
    May 13, 2026
    Days on Market:
    26
    Last Refresh:
    Jun 7 at 9:06 pm

    Property Features for 1601 Veteran Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Condominium
    Zoning
    LAR3
    Bedrooms
    2
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Family Room, Kitchen, Laundry, Living Room
    Parking
    3
    Parking features
    Assigned, Driveway, Garage, Gated, Side by Side
    Window features
    Skylight(s)
    Interior features
    Intercom, Balcony, Elevator, High Ceilings, Living Room Balcony, Ceiling Fan(s), Open Floorplan, Storage, Sliding Doors, Window Features: Insulated Windows, Skylight(s), Blinds, Screens
    Exterior features
    Fence, Community Features Included: Curbs, Watersports, Golf, Biking, Dog Park, Hiking, Street Lights, Urban, Storm Drains, Sidewalks, Park, Corner Lot, Lot 6500-9999, Landscaped, Near Public Transit, Park Nearby, Front Yard, Walkstreet, Sprinkler System, Lawn, Yard
    Fencing
    Fenced
    Accessibility
    Accessible Elevator Installed
    Appliances
    Cooktop, Cooktop - Electric, Garbage Disposer, Range, Refrigerator
    Standard status
    Active
    APN
    4324030076
    Size
    2,233 SF
    Lot size
    8,011.00 Acres

    Taxes and HOA fees

    Expense value
    488
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    1971
    Floors in Building
    4
    Number of units
    2
    Flooring type
    Wood
    Roof type
    Flat
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Vincent Serhan
    Vincent Serhan

    Listing agent Vincent Serhan License #01254997

    Listing office Vista Sotheby's International Realty 35 Peninsula Center, Rolling Hills Estates, CA

    Listing date May 13, 2026

    MLS# PV26104126 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two fully leased penthouse condos: Units #301 and #302, each 2BD/2BA with 1,118 SF (2,233 SF combined)
    • Monthly rent: #301 at $4,000 and #302 at $3,950; both leases run through 7/14/26 (annual)
    • HOA operating expenses listed as $488 per unit ($976 total for both units); tenants pay lease payments through innago.com
    • Remodeled throughout with newer dual pane windows and sliders; in‑unit washer/dryer (primary closet stackable for #301 and inside for #302)
    • Three subterranean deeded side‑by‑side parking spaces plus secure gated parking; accessible elevator installed
    • Amenities include private indoor storage closets for each unit, indoor secure bike parking, and a multi‑purpose room

    Overview

    This offering presents two exclusive penthouse condo units (#301 and #302) within a contemporary condominium building. Each unit offers a two-bedroom, two-bath layout with 1,118 square feet, with a combined total of 2,233 square feet. Unit #301 includes a private front balcony and a ductless air conditioning feature in the living room, along with in-unit stackable washer and dryer located in the primary bedroom closet. Unit #302 is a back interior corner penthouse with engineered bamboo flooring and a ductless A-C system, plus in-home washer and dryer. Both units were remodeled throughout, featuring dual pane windows and sliders, recessed lighting, and updated kitchen finishes with quartz counters and LG stainless steel appliances. Each unit has indoor secure bike parking and private indoor storage closets in the building.

    The condos are located at 1601 Veteran Avenue in Los Angeles, CA 90024. The remarks note views toward snow-covered mountains, Westwood (UCLA), and Century City from Unit #301, and a city view from Unit #302. The property also includes reserved subterranean deeded side-by-side parking, with three subterranean deeded parking spaces provided for the two units, plus elevator access to the top penthouse level.

    Both units are fully leased, with Lease terms noted through 7/14/26. Unit #301 is described at $4,000 per month, and Unit #302 at $3,950 per month. The operating expenses are referenced as HOA fees of $488 per unit, or $976 for both units, and tenants are stated to pay lease payments through innago.com. With pet-friendly notes for the penthouse front unit and gated subterranean parking, this setup can be a straightforward fit for owner-occupants or buyers seeking a maintained, move-in-ready, income-producing residential condominium configuration.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.44209
    Latitude
    34.05094

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    FAQs

    What type of property is this?
    Duplex - Fully leased penthouse pair with remodeled two-bedroom layouts, gated subterranean parking, and in-unit laundry.
    Where is this duplex located?
    The property is located at 1601 Veteran Avenue Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Two fully leased penthouse condos: Units #301 and #302, each 2BD/2BA with 1,118 SF (2,233 SF combined); Monthly rent: #301 at $4,000 and #302 at $3,950; both leases run through 7/14/26 (annual); HOA operating expenses listed as $488 per unit ($976 total for both units); tenants pay lease payments through innago.com
    (310) 541-8271
    We can help!
    Listing Contact
    Vincent Serhan
    Vincent Serhan
    Real Estate License ID: 01254997
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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