Description

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. The property is nestled on a peaceful residential corner, yet moments from Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and Santa Monica. There is an excellent unit mix with a diverse mix of bright and spacious studio, 1-bedroom, and 2-bedroom units, many with large private patios. 10 of 14 units have been 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. In addition, three brand-new ADUs (Accessory Dwelling Units) two attached and one detached offer modern layouts and strong rent potential. There is still considerable rental upside as 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. **** LOAN MUST BE ASSUMED, INQUIRE FOR DETAILS *****