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528 Westminster Ave 2 Unit Apartment Building $2,695,000 ($1,347,500/Unit) 3.24% Cap Rate Venice, CA 90291
Investment Highlights
- Prime Venice location less than a mile from the beach, Venice Boardwalk, and year-round coastal recreation.
- Highly walkable and bike-friendly neighborhood with easy access to grocery stores, markets, and everyday conveniences.
- Minutes to Abbot Kinney Blvd, offering boutique shopping, top -rated restaurants, cafés, and wellness studios.
- Close access to major Westside job centers —Santa Monica, Marina del Rey, Playa Vista, Culver City, and Silicon Beach.
Executive Summary
Luxury 2025 Rebuild: Existing duplex completely taken down to the studs and reconstructed with new electrical, plumbing, roofing, exterior, and designer-level interiors. Two High-End 3 Bed / 2 Bath Residences: Approx. 1,300 sq ft each with open-concept living, private balcony or patio, in-unit laundry, central AC, spacious primary suites, and all-new premium finishes, fixtures, flooring, and cabinetry. Modern ADU Development Opportunity: Fully approved RTI plans for a stylish 1,185 sq ft freestanding ADU, featuring second-story living, open kitchen and living areas, a luxe primary suite with walk-in closet, private balcony, and in-unit laundry. Exceptional Site Layout: Large 5,200 sq ft street-to-alley lot with six parking spaces positioned below the future ADU for optimal functionality. Elevated Income Potential: Projected combined market rents of $6,500+ per month across all three units. Premium Investment Appeal: Enjoy the stability and long-term durability of new construction paired with built-in upside through completing the shovel-ready ADU.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,347,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 3.24% | Building Size | 2,609 SF |
| Gross Rent Multiplier | 17.97 | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1946 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Zoning | LARD1.5 | ||
| Price | $2,695,000 |
| Price Per Unit | $1,347,500 |
| Sale Type | Investment |
| Cap Rate | 3.24% |
| Gross Rent Multiplier | 17.97 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,609 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1946 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | LARD1.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $6,250 | - |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 4239-023-011 | Total Assessment | $1,742,714 (2025) |
| Land Assessment | $1,472,106 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $270,608 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
4239-023-011
Land Assessment
$1,472,106 (2025)
Improvements Assessment
$270,608 (2025)
Total Assessment
$1,742,714 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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