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$2,200,000
Est. payment /mo
5,462 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26088964
HOA Y/N No
Year Built 1959
Lot Size 5,462 Sqft
Property Sub-Type Apartment
Property Description
Located just one block from Abbot Kinney Boulevard, 502 Westminster Ave presents a scrupulously maintained 4-unit multifamily opportunity in one of Venice's most sought-after coastal neighborhoods. The property sits on a quiet residential street while offering immediate access to some of the area's best dining, retail, and lifestyle amenities.
The asset consists of four 2-bedroom / 1-bath units totaling approximately 2,728 square feet on a 5,461 square foot lot. The property offers a strong unit mix in a premier rental location with consistent demand from tenants seeking proximity to Abbot Kinney, Rose Avenue, and the beach.
The offering provides strong current income with substantial upside as rents trend toward market levels. Three units have updated kitchens, and two units feature newly installed modern mini split AC/heat systems. The asset is further supported by 4 on-site parking spaces with alley access and potential to increase to 8 parking spaces. This is a valuable tenant amenity in this neighborhood. All four units have new circuit breaker panels, and a well-maintained shared outdoor patio space has been designed for minimal owner upkeep at this highly desirable corner location.
With its prime location, desirable unit mix, and clear rental upside, 502 Westminster Ave represents an excellent opportunity for investors seeking both stable in-place income and long-term appreciation in one of Los Angeles' most desirable beachside neighborhoods.
The asset consists of four 2-bedroom / 1-bath units totaling approximately 2,728 square feet on a 5,461 square foot lot. The property offers a strong unit mix in a premier rental location with consistent demand from tenants seeking proximity to Abbot Kinney, Rose Avenue, and the beach.
The offering provides strong current income with substantial upside as rents trend toward market levels. Three units have updated kitchens, and two units feature newly installed modern mini split AC/heat systems. The asset is further supported by 4 on-site parking spaces with alley access and potential to increase to 8 parking spaces. This is a valuable tenant amenity in this neighborhood. All four units have new circuit breaker panels, and a well-maintained shared outdoor patio space has been designed for minimal owner upkeep at this highly desirable corner location.
With its prime location, desirable unit mix, and clear rental upside, 502 Westminster Ave represents an excellent opportunity for investors seeking both stable in-place income and long-term appreciation in one of Los Angeles' most desirable beachside neighborhoods.
Location
State CA
County Los Angeles
Area C11 - Venice
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Biking
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Private Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4239023018
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Listed by Brett Lyon Lyon Stahl Investment Real Estate, Inc. 3107801899, DRE #01717818
Nearby Schools & Businesses
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