2200 Penmar Avenue, Venice, CA 90291
Local realty services provided by:ERA North Orange County Real Estate



2200 Penmar Avenue,Venice, CA 90291
$1,495,000
- 4 Beds
- 3 Baths
- 2,054 sq. ft.
- Multi-family
- Pending
Listed by:michael sterman
Office:marcus & millichap
MLS#:25552661
Source:CRMLS
Price summary
- Price:$1,495,000
- Price per sq. ft.:$727.85
About this home
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.
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Home facts
- Year built:1949
- Listing Id #:25552661
- Added:62 day(s) ago
- Updated:August 18, 2025 at 07:33 AM
Rooms and interior
- Bedrooms:4
- Total bathrooms:3
- Living area:2,054 sq. ft.
Structure and exterior
- Year built:1949
- Building area:2,054 sq. ft.
- Lot area:0.1 Acres
Finances and disclosures
- Price:$1,495,000
- Price per sq. ft.:$727.85
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