Property listed by Marcus & Millichap, Michael Sterman 818-212-2700
$4,395,000
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… Read More + 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. Read Less
Listing Snapshot
Days Online
114
Last Updated
Property Type
Other
Square Ft.
7,674
Lot Size
0.07 Acres
Year Built
1920
MLS Number
24459106
30 Days Snapshot Of 90291
$3,137k
+36%
(avg) sold price
24
+166%
homes sold
108
+2%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1920, Building area total: 7,674, Levels: MultiSplit, Living area: 7674, 1 building
Cooling
WallWindowUnits
Heating
None
Income
Gross income: $393,948, Net operating income: $219,801
Lot
0.0668 acres, 2,911 square feet, Size: 2,911
Parking
9 totals parking
Property
Zoning: LAC4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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