120 Westminster Ave Venice, CA 90291
Active
$4,395,000
6%
20 Units
0 Beds
0 Baths
7,674 Area(sq.ft.)
2,911 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 4 | studio | 1 | No | $ 950 | $ 3,800 | $ 6,800 |
| Unit 2 | 8 | studio | 1 | No | $ 1,493 | $ 11,946 | $ 16,000 |
| Unit 3 | 7 | 1 | 1 | No | $ 1,855 | $ 12,983 | $ 17,500 |
| Unit 4 | 1 | 1 | 1 | No | $ 2,700 | $ 2,700 | $ 3,000 |
| 4 | 20 | 8 | 20 | $ 31,429 | $ 204,349 | $ 280,700 |
| MLS #: | 24-459106 |
| Days On Market: | 24 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 573 |
| Price per unit: | $ 219,750 |
| Year Built: | 1920 |
Property Details
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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 5% |
| Gross Operating Income: | $ 393,948 |
| Total Annual Expense: | $ 162,328 |
| Net Operating Income: | $ 219,801 |
| Gross Annual Income: | $ 393,948 |
| Cap Rate: | 5% |
| Gross Rent Multiplier: | 11.16 |
Structure
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | LAC4 |
| Parking Garage: | Other |
Interior
| AC/Cooling: | Wall/Window |
| Equipment: | None |
| Heating: | None |
Exterior
Detailed Map
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