Active
$5,250,000
14 Units
20 Beds
17 Baths
9,532 Area(sq.ft.)
Lot: 10,367 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 3,698 | $ 3,698 | $ 3,698 |
| Unit 2 | 2 | 2 | 2 | No | $ 3,259 | $ 6,518 | $ 6,990 |
| Unit 3 | 5 | 2 | 1 | No | $ 2,684 | $ 13,419 | $ 17,475 |
| Unit 4 | 4 | 1 | 1 | No | $ 2,092 | $ 8,368 | $ 11,980 |
| Unit 5 | 2 | studio | 1 | No | $ 2,097 | $ 4,194 | $ 4,390 |
| 14 | 20 | 17 | $ 36,198 | $ 125,689 | $ 161,753 |
| MLS #: | 25543799 |
| Days On Market: | 192 |
| Listing Date: | May 27, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 551 |
| Price per unit: | $ 375,000 |
| Year Built: | 1962 |
Property Details
2001 Penmar Avenue is a turnkey 14-unit multifamily asset located on a quiet, tree-lined corner in the heart of Venice, one of the most desirable and dynamic rental markets in Los Angeles. Situated at the intersection of Penmar and Superba Avenue, this pride-of-ownership building features an exceptional unit mix, luxury renovations, newly constructed ADUs, and strong in-place income with significant rental upside. Property Highlights * Prime Venice Location: Nestled on a peaceful residential corner, yet moments from Abbot Kinney Boulevard, Rose Avenue, VeniceBeach, and Santa Monica.* Excellent Unit Mix: A diverse mix of bright and spacious studio, 1-bedroom, and 2-bedroom units, many with large private patios. * Luxury Renovations: 10 of 14 units fully renovated with high-end finishes. Features include new flooring, designer kitchens and bathrooms, custom cabinetry, split A/C systems, and in-unit washer/dryers in select units.* New Construction: Three brand-new ADUs (Accessory Dwelling Units) two attached and one detached offer modern layouts and strong rent potential.* Natural Light: Units are flooded with sunlight, enhancing the livability and tenant appeal. * Rental Upside: Many units remain significantly below market rents, offering near-term income growth. Venice is one of the most culturally iconic and forward-looking communities in California. Known for its vibrant arts scene, tech adjacent economy ("Silicon Beach"), and beach lifestyle, Venice consistently ranks among the highest-demand rental submarkets in the region.Santa Monica, just minutes away, is a world-class coastal city renowned for its pristine beaches, upscale shopping, booming business district, and institutions like Santa Monica College and Providence Saint John's Health Center. Its proximity to the property enhances long-term value and draws a broad tenant base. 2001 Penmar Avenue offers investors the rare chance to acquire a beautifully upgraded, income-producing asset in one of the tightest supply zones in Los Angeles. With completed capital improvements, new construction ADUs, and clear rental upside in a high-demand submarket, this asset is perfectly positioned for stable cash flow and long-term appreciation.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 436,165 |
| Total Annual Expense: | $ 120,954 |
| Net Operating Income: | $ 302,180 |
| Gross Annual Income: | $ 434,365 |
| Cap Rate: | 5.76% |
| Gross Rent Multiplier: | 12.04 |
Structure
| Type of Units: | 2s,1s,S |
| Buildings: | 1 |
| Levels: | One, Two |
Land & Parking
| Zoning: | LARD3 |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | Wall Unit(s), Air Conditioning |
| Equipment: | Dishwasher, Microwave, Washer, Gas Dryer Hookup, Built-Ins, Refrigerator, Range/Oven |
| Heating: | Wall, Combination |
Exterior
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