Updated Dec 4, 2024
Agnes Fontaine & Teresa Fuller Purchase MultiFamily Property In Venice For $2.3M
668 Westminster Avenue
$2,300,000
$1,018/SF
Building Size
2,258 SF
Asset Type
MultiFamily
Closing
Jun 10, 2024
About this deal
AI
A 2-unit multifamily property located at 668 Westminster Avenue in Venice was sold for $2,300,000. The property features a ground-floor owner's unit with a spacious Primary Suite addition and a charming garden, situated near Abbot Kinney and Venice Beach, providing an attractive investment opportunity in a prime Venice location.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,300,000
- Units: 2
- Price Per Unit: $1,150,000
- Square Footage: 2,258
- Price Per Square Foot: $1,019
- Address: 668 Westminster Avenue
- Market: Venice
Agnes Fontaine and Teresa Fuller of Compass represented the buyer in this transaction, while Don Glunts of D.G. Realty acted as the seller's representative.
Players
Venice MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93