560 Westminster Avenue , Venice, CA - 90291 is For Sale

  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
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  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
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  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
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  • 24401675
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  • 24401675
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  • 24401675
  • 24401675
  • 24401675
  • 24401675
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  • 24401675
  • 24401675
  • 24401675
  • 24401675
  • 24401675
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  • 24401675
$3,195,000· Income property

Description

Amazing, hip triplex built in 1988 (no local rent control) located in the most desirable pocket in Venice off Abbott Kinney and less than 6 blocks to the beach. This amazing triplex sits on almost 6000 foot of land and all 3 units were renovated & updated in the last 5 years. All units have hardwood floors, inside laundry and their own private outdoor space. Unit 1 is located on the main level with no common walls and has 2 bedrooms & 2 baths. Updates include hardwood floors, wood burning fireplace, high ceilings, custom doors, custom built ins, a spa like bathroom and custom kitchen w/ SS appliances & central heat. Unit 1 also has exclusive private use of yard, barbecue, firepit and includes a gated 2 car garage, lots of storage and its own Washer/dryer. Unit 1 is recently rented long-term for $7500 Upstairs units 2 & 3 are mirror one-bedroom 2-story lofts with 20 ceilings, skylights and tons of natural light. Unit 2 has a real Chefs kitchen to die for and both units have split heat/AC, hardwood floors and each share a small private deck in addition to separate large outdoor patios. Covered parking for each of those units. Both units have long term tenants. Community outdoor space in front and back with new hardscape, landscape and IPA fencing all around. New electrical service (incl main) was installed for all units. Newer roof (2 years old). Truly one of the nicest triplexes to come around with little deferred maintenance. Always leased w/ great tenants. Second owner. Could be great owner user or steady income stream. Short distance to all the trendy shops, restaurants and grocery stores.

Features

MLS#: 24401675
List Price : $3,195,000
Total Units : 3
CAP rate : $5.52
Gross Operating Income : $195,600
Net Operating Income : $176,009
Sq M : 483 M2
Year Built : 1988
Days on market : 92 Days
Gross taxes : N/A
Address : 560 Westminster Avenue
City : Venice
State : CA
Zip Code : 90291
Neighborhood : N/A
Appliances : Dishwasher, Disposal, Microwave, Refrigerator, Vented Exhaust Fan, Built-In, Gas Cooktop, Double Oven, Gas Range, Oven, Range Hood, Range, Gas Oven
Fireplace Features : Gas, Gas Starter, Living Room, Wood Burning, Wood Stove Insert, Fire Pit
Foundation : Slab
Stories : 3
Laundry : Washer Included, Dryer Included, Stackable, In Garage, Inside
Parking Features : Assigned, Detached Carport, Carport, Garage Door Opener, Garage - Two Door, Garage, Gated, Covered
Sale Type : Standard
Spa : None
 
Property Type : Residential Income
Original List Price : $3,195,000
Acres : 0.1194
Lot Size (Acres) : 0.1194
Heating : Central, Fireplace(s), Forced Air, Natural Gas
Sewer : Other
Parking Features : Assigned, Detached Carport, Carport, Garage Door Opener, Garage - Two Door, Garage, Gated, Covered
Pool Desc : None
Security Safety : Carbon Monoxide Detector(s), Gated Community, Smoke Detector(s)
Interior Features : Ceiling Fan(s), Cathedral Ceiling(s), Recessed Lighting, High Ceilings, Living Room Deck Attached
Cooling : Heat Pump, Wall/Window Unit(s)
Flooring : Wood
Roofing : Composition
Rooms : Entry, Loft
Driving Directions : West of Lincoln just East of Abbott Kinney, South of Rose
Lot Features : Front Yard, Back Yard, Landscaped
 
Courtesy of : Jack Bitton , Power Brokers

Location

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