$2,200,000
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.
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Listed by Brett Lyon with Lyon Stahl Investment Real Estate, Inc. (310) 425-9838
Property Type
Apartment
Status
Active
MLS Number
SB26088964
Year Built
1959
Lot Size
5,462 sq ft