506 Westminster Ave - Apartments FOR SALE


Venice, CA 90291
$3,400,000 USD
213-623-0800
506 Westminster Ave, Venice, CA for Sale
$3,400,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

506 Westminster Ave
Venice, CA 90291


HIGHLIGHTS

  • Development Opportunity For Two Units
  • Terrace Views, Private Balconies & Private Parking
  • Walking Distance To Venice Boardwalk, Venice Beach & Abbot Kinney Shopping
  • Building Plans Are Available Upon Request
  • Deferred Maintenance Due to Vacancy & Water Leaks

OVERVIEW

506-508 Westminster Avenue is currently under construction in the Venice neighborhood of Los Angeles. The development includes two separate side-by-side vacant 3-story small-lot houses on one parcel. The property is situated on a ±5,202 SF lot with RD1.5 Zoning. 506 Westminster Avenue is ±2,537 SF. 508 Westminster Avenue is ±2,661 SF. Both units include terrace views, private balcony and private parking. Building plans are available upon request. The permits are expired. New buyer will have to update plans and resubmit to plan check. Deferred maintenance includes damage from water leaks inside both buildings and will require professional inspections.

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$565 USD /SF

# OF UNITS

2

PRICE/UNIT

$1,700,000

CAP RATE

Request Cap Rate

% LEASED

0%

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Two-Unit 3-Story Development

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,109 SF

ZONING

RD1.5

APN/PARCEL ID

4239-023-017

ASK ABOUT THIS PROPERTY

Matthew C. SullivanLee & AssociatesMore Info
213-623-0800

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Matthew C. SullivanLee & AssociatesMore Info
213-623-0800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.