Two-Unit 3-Story Development | 506 Westminster Ave
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Two-Unit 3-Story Development 506 Westminster Ave
2 Unit Apartment Building $4,819,228 CAD ($2,409,614 CAD/Unit) Venice, CA 90291
Investment Highlights
- Development Opportunity For Two Units
- Walking Distance To Venice Boardwalk, Venice Beach & Abbot Kinney Shopping
- Deferred Maintenance Due to Vacancy & Water Leaks
- Terrace Views, Private Balconies & Private Parking
- Building Plans Are Available Upon Request
Executive Summary
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.
Property Facts
| Price | $4,819,228 CAD | Building Class | B |
| Price Per Unit | $2,409,614 CAD | Lot Size | 0.12 AC |
| Sale Type | Investment | Construction Status | Under Construction |
| Sale Conditions | Deferred Maintenance | Building Size | 6,021 SF |
| No. Units | 2 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2025 |
| Apartment Style | Low Rise |
| Price | $4,819,228 CAD |
| Price Per Unit | $2,409,614 CAD |
| Sale Type | Investment |
| Sale Conditions | Deferred Maintenance |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Construction Status | Under Construction |
| Building Size | 6,021 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 2025 |
Unit Amenities
- Balcony
- Kitchen
- Hardwood Floors
- Deck
- Dining Room
Site Amenities
- Gated
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+4 | 2 | $10,453 CAD | 2,537 - 2,661 |
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Walk Score ®
Walker's Paradise (96)
Bike Score ®
Biker's Paradise (99)
zoning
| Zoning Code | RD1.5 (Restricted Density Multiple) |
| RD1.5 (Restricted Density Multiple) |
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Matthew C. Sullivan -
Alvin Scioneaux, Jr. -
Lee & Associates
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Two-Unit 3-Story Development | 506 Westminster Ave
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