$ 4,700,000
120 Westminster AVE Venice, CA 90291
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$ 4,700,000
Est. payment | /mo
7,674 SqFt
$ 4,700,000
Est. payment | /mo
7,674 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,674 sqft
Price per Sqft $612
MLS Listing ID 24459106
HOA Y/N No
Year Built 1920
Lot Size 2,909 Sqft
Property Description
We are pleased to present 120 Westminster Ave, a 20 + 1 unit apartment building located in Venice, a very desirable submarket of Los Angeles. Built in 1920, the property consists of four (4) bachelor units, eight (8) studio units, seven (7) one-bedroom + one-bathroom units and one (1) one-bedroom + one-bathroom +loft unit. The building is 7,674 gross square feet and sits on a 5,312 square foot lot.120 Westminster Ave, is situated in the heart of Venice, offering both a residential charm and access to lively surroundings. The location is just steps away from the beach and the trendy Abbot Kinney Boulevard, which is lined with upscale boutiques and cafes. It's also a short drive to Santa Monica, Marina del Rey, and other popular Westside locations.120 Westminster Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 4.56% with the ability to improve to a 7.29% CAP rate once units turnover.
Location
State CA
County Los Angeles
Area C11 - Venice
Zoning LAC4
Interior
Heating None
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Total Parking Spaces 9
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4238011024
Special Listing Condition Standard
Listed by Michael Sterman • Marcus & Millichap
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Justin & Jessica Bouzane
Broker Associate | Lic# 01905244