512 Westminster Ave - Multi-Family FOR SALE


Venice, CA 90291
$2,925,000 USD
310-383-5927
512 Westminster Ave, Venice, CA for Sale
$2,925,000 USD
Multi-Family - FOR SALE
1/6
null | 5.65% Cap Rate

512 Westminster Ave
Venice, CA 90291


HIGHLIGHTS

  • 6 income-producing units - Two original 4BD/2BA units reconfigured into 3BD/1BA units plus studio units with private bathrooms.
  • Block from Abbot Kinney
  • 11.97 GRM

OVERVIEW

512 Westminster Avenue presents a rare value-add multifamily investment opportunity in the heart of Venice, one of Los Angeles’ most sought-after coastal rental markets. Ideally situated just steps from world- renowned Abbot Kinney Boulevard, the property benefits from exceptional walkability and immediate access to Venice’s premier collection of boutique shopping, acclaimed restaurants, cafés, galleries, and entertainment. The property consists of a well-maintained 4-plex totaling approximately 4,338 square feet on a 5,200-square-foot lot. The front upper and front lower units are currently configured as separate 3-bedroom, 1-bathroom residences with adjoining studio units, each studio containing its own bathroom. These configurations were originally designed as two 4- bedroom, 2-bathroom units and were subsequently divided, creating a 3- bedroom, 1-bathroom unit and a studio unit with bathroom in each case. As a result, the property currently operates with four 3-bedroom, 1- bathroom units and two studio units. With six income-producing units, significant frontage in a premier Westside location, and multiple avenues for future upside, 512 Westminster Avenue offers investors the opportunity to acquire a trophy Venice asset with stable in-place income and compelling long-term appreciation potential in one of Southern California’s most dynamic coastal communities.

FOR SALE DETAILS

PRICE

$2,925,000 USD

PRICE/SF

$674 USD /SF

# OF UNITS

4

PRICE/UNIT

$731,250

CAP RATE

5.65%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

512 Westminster Ave

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,200 SF

ZONING

LARD1.5

APN/PARCEL ID

4239-023-016

ASK ABOUT THIS PROPERTY

Chase SimontonRE/MAX One - Simonton Commercial GroupMore Info
310-383-5927

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Chase SimontonRE/MAX One - Simonton Commercial GroupMore Info
310-383-5927

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.