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33424767
33424766

512 Westminster Ave, Venice, CA 90291

CS
CA 01766871
RE/MAX One
Remax One Commercial
Listed by RE/MAX One, Remax One Commercial
$2,925,000
1 day on market
Updated 1 day ago

512 Westminster Ave

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,338
Units 4
Cap Rate 5.65%
NOI $165,203
Tenancy Multi
Price per SqFt $674
Class A
Year Built 1962
Lot Size (SqFt) 5,200
Zoning LARD1.5
Investment Type Value Add

Multifamily | 5.65% CAP | 4 Units

Marketing description

512 Westminster Avenue presents a rare value-add multifamily investment opportunity in the heart of Venice, one of Los Angeles' most sought-after coastal rental markets. Ideally situated just steps from world-renowned Abbot Kinney Boulevard, the property benefits from exceptional walkability and immediate access to Venice's premier collection of boutique shopping, acclaimed restaurants, cafes, galleries, and entertainment.

The property consists of a well-maintained 4-plex totaling approximately 4,338 square feet on a 5,200-square-foot lot. The front upper and front lower units are currently configured as separate 3-bedroom, 1-bathroom residences with adjoining studio units, each studio containing its own bathroom. These configurations were originally designed as two 4-bedroom, 2-bathroom units and were subsequently divided, creating a 3-bedroom, 1-bathroom unit and a studio unit with bathroom in each case. As a result, the property currently operates with four 3-bedroom, 1-bathroom units and two studio units.

With six income-producing units, significant frontage in a premier Westside location, and multiple avenues for future upside, 512 Westminster Avenue offers investors the opportunity to acquire a trophy Venice asset with stable in-place income and compelling long-term appreciation potential in one of Southern California's most dynamic coastal communities.

Investment highlights

  • 4 units
  • (4) 3+1, (2) Studios
  • 11.97 GRM
  • 6 income-producing units - Two original 4BD/2BA units reconfigured into 3BD/1BA units plus studio units with private bathrooms.
  • Prime Venice location just moments from Abbot Kinney Boulevard's renowned dining, retail, and nightlife
  • Short distance to Venice Beach and the Pacific Ocean, a major driver of tenant demand

Listing Contacts

CS
CA 01766871
RE/MAX One
Remax One Commercial
Listed by RE/MAX One, Remax One Commercial

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$165,203.00
$13,766.92/mo

Valuation Metrics

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DSCR
5.65%
Cap Rate
5.65%
ROI

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