8032 18th Street 2, Westminster, California 92683, Westminster, 92683 - bed, bath
ACTIVE$1,395,000
8032 18th Street 2, Westminster, California 92683
0Bed
0Bath
1,250Sqft
11,761.2Lot
Year Built
1947
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$1,116
HOA
-
Days on market
-
Sold On
-
MLS number
PW25103321
Home ConditionExcellent
Features
Patio
View-
About this home
We found 3 Cons,5 Pros.
Located in the heart of city of Westminster. This was beautifully remodeled with two separate units. The first unit: 2 Bedrooms, 1 Bathroom. The Second unit: 2 Bedrooms, 1 Bathroom. This property presents an excellent opportunity for both living and investment income. With Gross Rental Income 2024 is $89,204 The huge lot size is 0.27 acre and zoned for mixed-use, providing the possibility to develop multiple residential units or commercial buildings (buyer verify with the City of Westminster). This house convenient access to 405 and 22 freeway. Few miles from the beach. Walking distance to school, supermarket and shopping center. All furniture included in the sale price. A MUST TO SEE!
Condition Rating
Excellent
Despite being built in 1947, the property has undergone a comprehensive and high-quality renovation, as evidenced by the 'beautifully remodeled' description and the provided images. Both kitchens feature modern shaker-style cabinets, new countertops, stainless steel appliances, and contemporary fixtures. The bathrooms are equally updated with modern vanities, subway tile showers, and new fixtures. Flooring throughout is a mix of new laminate/engineered wood and tile. Modern lighting and mini-split AC units are visible. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance, indicating an extensive renovation within the last 5 years.
Pros & Cons
Pros
Dual Income & Investment Potential: The property features two separate, beautifully remodeled units (each 2 bed, 1 bath) generating a substantial gross rental income of $89,204 in 2024, offering an excellent opportunity for both living and investment.
Significant Development Potential: A huge 0.27-acre lot with mixed-use zoning provides the possibility to develop multiple residential units or commercial buildings, offering substantial long-term value appreciation.
Prime Location & Accessibility: Conveniently located with easy access to the 405 and 22 freeways, a few miles from the beach, and within walking distance to schools, supermarkets, and shopping centers, enhancing desirability and tenant appeal.
Turn-Key Condition & Added Value: The units are beautifully remodeled, reducing immediate renovation needs, and all furniture is included in the sale price, making it a turn-key solution for investors or immediate occupancy.
Flexible Use & High Demand Area: The property's mixed-use zoning and dual-unit configuration offer flexibility for various uses, while its location in Westminster, a high-demand area, ensures consistent rental and resale interest.
Cons
Age of Property & Potential Infrastructure: Built in 1947, despite being remodeled, the property's age may imply potential future maintenance or upgrade costs for original infrastructure elements such as plumbing, electrical, or roofing, which are not explicitly detailed as updated.
Buyer Due Diligence for Development: While offering significant development potential, the description explicitly states 'buyer verify with the City of Westminster,' indicating that the realization of this potential requires complex and potentially time-consuming due diligence from the buyer.
Compact Unit Footprint: With a total of 1250 sqft for two 2-bedroom, 1-bathroom units, each unit is approximately 625 sqft, which is relatively compact for a 2-bedroom layout and might limit appeal to certain tenant demographics or command lower rents compared to more spacious alternatives.