Commercial%252520RE_edited_edited_edited

528 Westminster Ave, Venice

CLOSED

DUPLEX

$1,649,000

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PROPERTY LOCATION

528 Westminster Ave, Venice, CA 90291, USA

PROPERTY DETAILS

Property Type

Multifamily

Units

Price/Unit

2

$824,500

Price/Sqft

$910.04

Building Sqft

1812

Lot Sqft

Current Cap Rate

5201

-

Current GRM

-

Year Built

1946

Zoning

Market Cap Rate

LARD1.5

4.39%

Market GRM

16.76

CONTACT

LISTING TEAM

Nico.jpg

Nico Rosmarin

424.226.9449

DRE 02023847

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Nico.jpg

INVESTMENT DESCRIPTION

LOCATION LOCATION LOCATION! Nico Rosmarin of Lyon Stahl Investment Real Estate is pleased to present 528 Westminster Ave, a duplex with incredible value-add opportunity in Venice, CA. Abbot Kinney, dubbed by GQ as “the coolest block in America” is a mile long strip of the latest fashion, art and food just minutes from Venice Beach. Just up the street, you’ll find this hidden gem.

Situated on a 5,201 SF street-to-alley lot, this 1,812 SF 2-story duplex consists of two (2) 2-Bedroom 1-Bathroom units. The property features copper plumbing, a 2-car garage, 3 uncovered parking spaces, and the lot is secured by perimeter fencing with padlock entry, Each unit is separately metered for gas, water, and electric and all utilities are paid by the tenant, who occupies the upper unit and uses the bottom unit for short-term rentals. The tenant also pays for maintenance and minor repairs.

This highly-coveted location is more than ideal for both an owner-user looking to immerse themselves in the plush culture Venice has to offer as well as for an investor searching for a property that holds strong rent appeal that will produce steady returns. There is also development potential, with an empty lot next door and an alley in back. You don’t want to miss out on this incredible opportunity.