2001 Penmar Ave - Apartments FOR SALE


Venice, CA 90291
$5,095,000 USD
310-968-5303
2001 Penmar Ave, Venice, CA for Sale
$5,095,000 USD
Apartments - FOR SALE
1/72
null | 6.2% Cap Rate

2001 Penmar Ave
Venice, CA 90291


HIGHLIGHTS

  • Corner multifamily property located in the heart of Venice near Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and Santa Monica.
  • The asset features a mix of studio, one-bedroom, and two-bedroom residences, providing broad tenant appeal.
  • Ten units have undergone extensive interior renovations with updated finishes and modernized living spaces.
  • Three newly constructed ADUs provide additional income-generating opportunities.

OVERVIEW

Jonathan Taksa of the Taksa Investment Group is pleased to present 2001 Penmar Avenue, 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.

FOR SALE DETAILS

PRICE

$5,095,000 USD

PRICE/SF

$535 USD /SF

# OF UNITS

14

PRICE/UNIT

$363,929

CAP RATE

6.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Beautifully Remodeled 14 Units in Venice

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

4242-009-011

ASK ABOUT THIS PROPERTY

Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

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Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.