120 Westminster Avenue, Venice, CA 90291
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Listed Price :
$4,700,000
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Beds :
0
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Baths :
-
Property Size :
7,674 sqft
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Year Built :
1920
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.
Interior Features
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
120 Westminster Avenue |
| City |
Venice |
| State |
CA |
| Zip |
90291 |
| County |
Los Angeles |
| Listing Agent |
Michael Sterman DRE #01911703 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$4,700,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
7,674 |
| Lot Size |
2,911 |
| Year Built |
1920 |
Listing information courtesy of: Michael Sterman, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 1st, 2024 at 4:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
