7161 Main Street, Westminster, California 92683, Westminster, - bed, bath
ACTIVE$1,499,000
7161 Main Street, Westminster, California 92683
7Beds
3Baths
2,460Sqft
8,398Lot
Year Built
1962
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25014855
Home ConditionFair
Features
Good View: Neighborhood
Patio
ViewNeighborhood
About this home
Fantastic investment opportunity in Westminster! This triplex features two units with 3 bedrooms and 1 bathroom each, plus a third unit with 2 bedrooms and 1 bathroom. Each unit includes its own two-cars on driveway. The property sits on a spacious 8,400 sq. ft. lot, zoned R3 for multifamily residential use. Located near the Asian Little Saigon Mall, shopping centers, schools, Golden West Park, and various entertainment options, the property is also just a few miles from the beach. Enjoy convenient access to the 405 Freeway and Beach Blvd (Hwy 39). This property offers great potential for increased income, with a detached two-car garage that can be converted into a JADU. Don’t miss this incredible opportunity!
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (4 Listings) | |
|---|---|---|---|
| Beds | 7 | 0 | 0% |
| Baths | 3 | 0 | 0% |
| Square foot | 2,460 | 3,933 | 20% |
| Lot Size | 8,398 | 7,405 | 60% |
| Price | $1.5M | $1.5M | 50% |
| Price per square foot | $609 | $391 | 80% |
| Built year | 1962 | 1963 | 40% |
| HOA | |||
| Days on market | 287 | 232 | 60% |
Condition Rating
Fair
The property was built in 1962 and appears to have had some updates, but the kitchens and bathrooms show their age. The appliances and fixtures are outdated, and the overall style is not modern. While the property seems maintained, it requires minor updates to bring it to current standards.
Pros & Cons
Pros
Income Potential: Triplex with three separate units provides immediate rental income.
Development Opportunity: R3 zoning allows for potential future development or expansion.
ADU Potential: Detached two-car garage offers potential for ADU conversion, increasing income.
Prime Location: Close proximity to Asian Little Saigon Mall, shopping, schools, parks, and entertainment.
Accessibility: Easy access to the 405 Freeway and Beach Blvd (HWY 39).
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2460, other record living area = 780.
Year Built: Built in 1962, the property may require updates to meet modern standards.
Potential Renovation Costs: Older property may need renovations or repairs, impacting initial investment.
Limited Parking: Driveway parking for two cars per unit might be insufficient for some tenants.