2200 Penmar Avenue

Venice , CA 90291

MLS#: 25552661

$1,495,000

Status: Active
Listing number: 25552661
Listing provided by: Marcus & Millichap
Listing agent phone: None
Last update: 30 days ago
On site: a month ago
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Property

Beds

4

Full Baths

None

1/2 Baths

None

Year Built

1949

Sq.Footage

2,054

We are pleased to present 2200 Penmar Ave a charming 3-unit apartment building located in the heart of Venice, one of Los Angeles' most desirable coastal neighborhoods. Built in 1949, the property features (2) one-bedroom + one-bath units and (1) two-bedroom + one-bath unit, totaling approximately 2,054 square feet of rentable space on a 4,545 square foot lot. All units are equipped with in-unit washer and dryers, providing added convenience and appeal to tenants. Additionally, two of the units come with their own private garage parking and outdoor patios ideal for enjoying the Venice beach lifestyle. One unit will be delivered vacant at the close of escrow, offering an excellent opportunity for an owner-user or investor seeking to capitalize on immediate rental upside in a supply-constrained market. Tucked away on a quiet residential street, 2200 Penmar offers tenants the perfect blend of tranquility and accessibility. Just minutes from the iconic Abbot Kinney Boulevard, Venice Beach, and a wide array of shopping, dining, and entertainment options, the location is second to none. Easy access to Lincoln Blvd, Venice Blvd, and major freeways ensures smooth connectivity to Santa Monica, Culver City, and beyond.2200 Penmar Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 4.13% with the ability to improve to a 4.67% CAP rate once units turnover.

Features & Amenities

Interior

  • Total Bedrooms

    4

  • Bathrooms

    N/A

Exterior

  • Garage

    No

  • Parking

    Garage

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.1042

  • Property Type

    Residential Income

Price

  • Sales Price

    $1,495,000

  • Sq. Footage

    2, 054

  • Price/SqFt

    $727

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    1

  • Senior Community YN

    NO

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Location

County

Los Angeles

Elementary School

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Listing Courtesy of Michael Sterman , Marcus & Millichap

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(818) 321-0175

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We are pleased to present 2200 Penmar Ave a charming 3-unit apartment building located in the heart of Venice, one of Los Angeles' most desirable coastal neighborhoods. Built in 1949, the property features (2) one-bedroom + one-bath units and (1) two-bedroom + one-bath unit, totaling approximately 2,054 square feet of rentable space on a 4,545 square foot lot. All units are equipped with in-unit washer and dryers, providing added convenience and appeal to tenants. Additionally, two of the units come with their own private garage parking and outdoor patios ideal for enjoying the Venice beach lifestyle. One unit will be delivered vacant at the close of escrow, offering an excellent opportunity for an owner-user or investor seeking to capitalize on immediate rental upside in a supply-constrained market. Tucked away on a quiet residential street, 2200 Penmar offers tenants the perfect blend of tranquility and accessibility. Just minutes from the iconic Abbot Kinney Boulevard, Venice Beach, and a wide array of shopping, dining, and entertainment options, the location is second to none. Easy access to Lincoln Blvd, Venice Blvd, and major freeways ensures smooth connectivity to Santa Monica, Culver City, and beyond.2200 Penmar Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 4.13% with the ability to improve to a 4.67% CAP rate once units turnover.

2200 Penmar Avenue

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