40 Westminster Ave
Venice, CA 90291

$5,875,000

Last Sold Price

Beds

Baths

7,691 Sq. Ft.

$764 / Sq. Ft.

7,691

Sq. Ft.

$764

per Sq. Ft.

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Sold 5/12/22

a bedroom with furniture and a large window

a living room with stainless steel appliances kitchen island granite countertop a sink dishwasher and a stove with wooden floor

a kitchen with a sink stove and refrigerator

an aerial view of residential houses with outdoor space

a front view of a building with street view

Description

Silicon Beach Trophy asset located just off the beach on one of the hottest and most sought-after rental markets in the city that has made an extraordinary comeback post-Covid. Lots of capital improvements invested to bring this charming 1912 building into the 21st century, including new copper plumbing for most of the building, new shear wall, new entrance, new electrical subpanel, water heater and replacement of water, waste, vent and gas line, as well as many other interior and exterior common...Silicon Beach Trophy asset located just off the beach on one of the hottest and most sought-after rental markets in the city that has made an extraordinary comeback post-Covid. Lots of capital improvements invested to bring this charming 1912 building into the 21st century, including new copper plumbing for most of the building, new shear wall, new entrance, new electrical subpanel, water heater and replacement of water, waste, vent and gas line, as well as many other interior and exterior common area upgrades. Most unit remodels include new kitchens, bathrooms, wall heaters, Low-E dual glaze windows, interior doors, lighting, tile, floors and more. Not only is it steps away from the sand, but the building is in close proximity to Abbott Kinney and Main Street. Ideal unit mix of Bachelors, Studios, One and Two-Bedrooms. Good rental upside.

Listed by Eric Sackler • DRE #01057377 • Brokerage DRE #01464847 • Coldwell Banker Realty
Listed by Jessica Barouch • DRE #01379495 • Brokerage DRE #01208019 • Keller Williams Studio City

Property Details for 40 Westminster Avenue

Zoning

LARD1.5

Parcel Number

4226006019

Total Units

18.0

Living Area

7691

Source Living Area

Assessor

Area

Venice (C11)

Vacancy Rate

Lot Size Area

3149

LISTING UPDATED: 05/13/2022 11:49 AM

Property Details for 40 Westminster Avenue

Status	Sold
MLS #	22-116057
Days on Market	108
Taxes	-
HOA Fees	-
Condo/Co-op Fees	-
Compass Type	Multi Family
MLS Type	Residential Income
Year Built	1912
Lot Size	0.07 AC / 3,149 SF
County	Los Angeles County

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Location

Listing Courtesy of Coldwell Banker Realty, Eric Sackler, DRE #01057377; Keller Williams Studio City, Jessica Barouch, DRE #01379495

Sold By Miller & Desatnik Realty Co., Dominick Faraone, DRE #01925895

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Building Information for 40 Westminster Avenue

Stories3Residences-Year Built1912Building Size-Lot Size0.07 AC / 3,149 SF

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$34,918 per month

30 year fixed, 6.15% Interest

Principal and Interest

$28,634

Property Taxes

$6,284

HOA Dues

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Property Information for 40 Westminster Avenue

Community / Development

Number Of Units: 18
Senior Community: No

Structure Info

Year Built Source: Assessor
Number Of Stories: 3

Number Of Buildings: 1
Type Of Units: Apartments

Contract Info

Disclosures: None
Listing Type: Exclusive Right To Sell

Service Level: Full Service

Income & Expenses Information

Scheduled Actual: Scheduled
Gross Operating Income: $401,522

Net Operating Income: $257,522.00
Gross Income: $413,940
Gross Scheduled Income: $413,940
Cap Rate: 3.96%
Gross Rent Multiplier: $15.70
Total Annual Expense: 144000

Land / Lot Info

Lot Acreage: 0.0723
Lot Size Square Feet: 3149

Parking Details

Parking Garage: None
Total Parking: 0

Parking Features: None

Interior Features

Cooling Type: Ceiling Fan
Heating: Wall Furnace

Heating Type: Wall
Flooring: Laminate, Hardwood
Equipment: Ceiling Fan, Dishwasher, Hood Fan, Microwave, Washer, Refrigerator, Range/Oven, Dryer
Interior Features: Ceiling Fan(s)
Kitchen Features: Gourmet Kitchen, Remodeled
Laundry: In Unit

Exterior Features

New Construction: No
Other Structures: None

Lease Terms

Entry Date: 01-10-2022

Unit Details

Unit 1 Information

Unit Beds: 2
Unit Baths: 1

Unit Furnished: No
Unit Rent: $2,550.00
Unit Actual Rent: $2,550.00
Unit Projected Rent: $2,550.00
Like Units: 2

Unit 2 Information

Unit Beds: 1
Unit Baths: 1

Unit Furnished: No
Unit Rent: $2,573.00
Unit Actual Rent: $2,573.00
Unit Projected Rent: $2,575.00
Like Units: 2

Unit 3 Information

Unit Beds: 1
Unit Baths: 1

Unit Furnished: No
Unit Rent: $1,925.00
Unit Actual Rent: $1,925.00
Unit Projected Rent: $1,995.00
Like Units: 4

Unit 4 Information

Unit Beds: 1
Unit Baths: 1

Unit Furnished: No
Unit Rent: $2,500.00
Unit Actual Rent: $2,500.00
Unit Projected Rent: $2,500.00
Like Units: 2

Unit 5 Information

Unit Beds: 0
Unit Baths: 1

Unit Furnished: No
Unit Rent: $1,375.00
Unit Actual Rent: $1,375.00
Unit Projected Rent: $1,995.00
Like Units: 5

Unit 6 Information

Unit Beds: 0
Unit Baths: 1

Unit Furnished: No
Unit Rent: $1,500.00
Unit Actual Rent: $1,500.00
Unit Projected Rent: $1,795.00
Like Units: 3

Unit Details

Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111

Tax and Assessed Info

Assessed Improvement Value: $649,458.00
Assessed Improvement Percent: 14.29

Assessed Land Value: $3,896,754.00
Assessed Land Percent: 85.71
Assessed Total Value: $4,546,212.00

Property History for 40 Westminster Avenue

Date	Event & Source	Price	Appreciation
May 12, 2022	Sold SDMLS #22-116057	$5,875,000	—
May 12, 2022	Sold CLAW #22-116057	$5,875,000	—
May 12, 2022	Sold CRMLS #22116057	$5,875,000	—
May 4, 2022	Sold (Public Record) Public Record #1489983586	$5,875,000	+5.4% / yr
May 3, 2022	Pending CRMLS #22116057		—
Apr 28, 2022	Pending CLAW #22-116057		—
Apr 28, 2022	Accepting Backup Offers CRMLS #22116057		—
Apr 28, 2022	Accepting Backup Offers CLAW #22-116057		—
Apr 28, 2022	Pending SDMLS #22-116057		—
Apr 7, 2022	Listed (Active) CLAW #22-116057	$6,700,000	—
Mar 18, 2022	Accepting Backup Offers CLAW #22-116057		—
Feb 14, 2022	Price Change CRMLS #22116057	$6,500,000	—
Feb 14, 2022	Price Change CLAW #22-116057	$6,500,000	—
Jan 10, 2022	Listed (Active) CRMLS #22116057	$6,700,000	—
Jan 10, 2022	Listed (Active) CLAW #22-116057	$6,700,000	—
Jan 10, 2022	Listed (Active) SDMLS #22-116057	$6,700,000	—
Oct 18, 2021	Withdrawn / Cancelled CRMLS #21725198	$6,895,000	—
Oct 18, 2021	Withdrawn / Cancelled CLAW #21-725198		—
Jul 19, 2021	Price Change CLAW #21-725198	$6,895,000	—
May 25, 2021	Price Change CRMLS #21725198	$7,099,000	—
May 25, 2021	Price Change CLAW #21-725198	$7,099,000	—
Apr 28, 2021	Listed (Active) CRMLS #21725198	$7,395,000	—
Apr 28, 2021	Listed (Active) CLAW #21-725198	$7,395,000	—
Jan 1, 2019	Expired CRMLS #18377456	$7,495,000	—
Dec 31, 2018	Expired CLAW #18-377456	$7,495,000	—
Nov 27, 2018	Listed (Active) CLAW #18-377456	$8,195,000	—
Oct 9, 2018	Price Change CRMLS #18377456	$7,495,000	—
Sep 17, 2018	Price Change CRMLS #18377456	$7,785,000	—
Aug 20, 2018	Listed (Active) CRMLS #18377456	$8,195,000	—
Dec 17, 2015	Sold CRMLS #15933761	$4,200,000	—
Dec 17, 2015	Sold CRMLS #15933761	$4,200,000	—
Dec 17, 2015	Sold SDMLS #15933761	$4,200,000	—
Dec 17, 2015	Sold CLAW #15-933761	$4,200,000	—
Dec 9, 2015	Sold (Public Record) Public Record #561811600	$4,200,000	—
Sep 10, 2015	Pending CLAW #15-933761		—
Sep 10, 2015	Pending CRMLS #15933761		—
Sep 10, 2015	Pending CRMLS #15933761		—
Aug 18, 2015	Listed (Active) SDMLS #15933761	$4,100,000	—
Aug 18, 2015	Listed (Active) CRMLS #15933761	$4,100,000	—
Aug 18, 2015	Listed (Active) CLAW #15-933761	$4,100,000	—
Aug 18, 2015	Listed (Active) CRMLS #15933761	$4,100,000	—

Date	Event & Source	Price
05/12/2022	Sold SDMLS #22-116057	$5,875,000
05/12/2022	Sold CLAW #22-116057	$5,875,000
05/12/2022	Sold CRMLS #22116057	$5,875,000
05/04/2022	Sold (Public Record) Public Record #1489983586	$5,875,000 +5.4% / yr
05/03/2022	Pending CRMLS #22116057	—
04/28/2022	Pending CLAW #22-116057	—
04/28/2022	Accepting Backup Offers CRMLS #22116057	—
04/28/2022	Accepting Backup Offers CLAW #22-116057	—
04/28/2022	Pending SDMLS #22-116057	—
04/07/2022	Listed (Active) CLAW #22-116057	$6,700,000
03/18/2022	Accepting Backup Offers CLAW #22-116057	—
02/14/2022	Price Change CRMLS #22116057	$6,500,000
02/14/2022	Price Change CLAW #22-116057	$6,500,000
01/10/2022	Listed (Active) CRMLS #22116057	$6,700,000
01/10/2022	Listed (Active) CLAW #22-116057	$6,700,000
01/10/2022	Listed (Active) SDMLS #22-116057	$6,700,000
10/18/2021	Withdrawn / Cancelled CRMLS #21725198	$6,895,000
10/18/2021	Withdrawn / Cancelled CLAW #21-725198	—
07/19/2021	Price Change CLAW #21-725198	$6,895,000
05/25/2021	Price Change CRMLS #21725198	$7,099,000
05/25/2021	Price Change CLAW #21-725198	$7,099,000
04/28/2021	Listed (Active) CRMLS #21725198	$7,395,000
04/28/2021	Listed (Active) CLAW #21-725198	$7,395,000
01/01/2019	Expired CRMLS #18377456	$7,495,000
12/31/2018	Expired CLAW #18-377456	$7,495,000
11/27/2018	Listed (Active) CLAW #18-377456	$8,195,000
10/09/2018	Price Change CRMLS #18377456	$7,495,000
09/17/2018	Price Change CRMLS #18377456	$7,785,000
08/20/2018	Listed (Active) CRMLS #18377456	$8,195,000
12/17/2015	Sold CRMLS #15933761	$4,200,000
12/17/2015	Sold CRMLS #15933761	$4,200,000
12/17/2015	Sold SDMLS #15933761	$4,200,000
12/17/2015	Sold CLAW #15-933761	$4,200,000
12/09/2015	Sold (Public Record) Public Record #561811600	$4,200,000
09/10/2015	Pending CLAW #15-933761	—
09/10/2015	Pending CRMLS #15933761	—
09/10/2015	Pending CRMLS #15933761	—
08/18/2015	Listed (Active) SDMLS #15933761	$4,100,000
08/18/2015	Listed (Active) CRMLS #15933761	$4,100,000
08/18/2015	Listed (Active) CLAW #15-933761	$4,100,000
08/18/2015	Listed (Active) CRMLS #15933761	$4,100,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 40 Westminster Avenue

Taxable ValueLand$4,775,436Additions$1,462,761Total$6,238,197

Tax Record2025$75,412 ($6,284 / month)

Home Facts

Total Finished SqFt7,691 SqFtAbove Grade Finished SqFt7,691 SqFtLot Size3,149 SqFtStyleMulti-Family Res (5+ Units)Year Built1912ZoningLARD1.5CountyLOS ANGELESAPN4226-006-019

Schools near 40 Westminster Avenue

This home is within Los Angeles Unified School District.


Rating	School	Type	Grades	Distance
7/10	Westminster Avenue Elementary School	Public - Serves this home	K to 5	0.2 mi
7/10	Mark Twain Middle School and World Languages Magnet	Public - Serves this home	6 to 8	1.7 mi
8/10	Venice Senior High School	Public - Serves this home	9 to 12	1.8 mi
5/10	Animo Venice Charter High School	Charter - Choice school	9 to 12	0.8 mi
6/10	Westside Global Awareness Magnet	Public - Choice school	K to 8	0.8 mi
3/10	Phoenix Continuation School	Public - Choice school	9 to 12	1.8 mi
NR	Acton Academy Venice Beach	Private - Nearby school	K to 11	0.6 mi


Rating	School	Distance
7/10	Westminster Avenue Elementary School PublicK to 5 Serves this home	0.2 mi
7/10	Mark Twain Middle School and World Languages Magnet Public6 to 8 Serves this home	1.7 mi
8/10	Venice Senior High School Public9 to 12 Serves this home	1.8 mi
5/10	Animo Venice Charter High School Charter9 to 12 Choice school	0.8 mi
6/10	Westside Global Awareness Magnet PublicK to 8 Choice school	0.8 mi
3/10	Phoenix Continuation School Public9 to 12 Choice school	1.8 mi
NR	Acton Academy Venice Beach PrivateK to 11 Nearby school	0.6 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Eric Sackler, DRE #01057377; Keller Williams Studio City, Jessica Barouch, DRE #01379495

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

40 Westminster AveVenice, CA 90291

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40 Westminster Ave
Venice, CA 90291