120 Westminster Avenue

Venice, CA 90291

PRICE REDUCED

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-$305,000 (-6.49%)

$4,395,000

List Price

0

bed Beds

shower Baths

7,674 sqft

straighten / sqft

1920

calendar_month Built

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.

Listing Information

List Price $4,395,000
Status Active
MLS 24459106
Type Residential Income
Year Built 1920
Lot Size 2,911
Structure Size 7,674
DOM 24
Courtesy Of Marcus & Millichap
Listing Agent Michael Sterman DRE#01911703

Interior Features

Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Michael Sterman, Marcus & Millichap 818-212-2784. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 25th, 2024 at 8:49 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.