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$3,195,000

Beds
4
sq ft
3,200

560 Westminster Ave, Venice, CA 90291

560 Westminster Ave

Venice, CA 90291

  • 24 days on market
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.

Details

Property type

Property condition

Updated/Remodeled

Lot size

5,200 sq ft

Price per sq ft

$999

Year built

1988

HOA

No

Price History

06/07/2024
CLAW

CLAW #24401675

Listed
$3,195,000

Schools & Community

Neighborhood: 

Venice

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$2,019,999
Asking price
$3,195,000
Closing costs (~8% of asking)
-$255,600
Est. remaining loan balance
-$919,401
Cash to seller
$2,019,999

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Home Point Financial Corporation

Loan start date

May 2021

Original loan amount

$983,850

Est. remaining balance

$919,401

Interest rate

3.09%

Loan type

New Conventional, 30 year

Seller

Jacques Bitton and The Krandmars Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 07/01/2024 at 11:15 AM

Listing updated: 06/15/2024 at 5:23 AM

Listed by: Jack Bitton, Power Brokers Phone #: (310) 402-5593

MLS: CLAW #24401675

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