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… Read More 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. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
18
Last Updated
Property Type
Other
Beds
4
Square Ft.
2,054
Lot Size
0.1 Acres
Year Built
1949
MLS Number
25552661
30 Days Snapshot Of 90291
$3.10M
+19%
(avg) sold price
18
-10%
homes sold
70
+18%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
2,054 sq ft, Built in 1949, Levels: One
Cooling
Window Unit(s)
Disclosures
None
Garage
Garage
Lot
LotAcreage: 0.1042, LotSizeArea: 4,541
Parking
TotalParking: 0
Property
NumberOfUnits: 3, Zoning: LAR1
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