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2432 Penmar Ave

Venice, CA 90291
  • $5,750,000
  • STATUS: Active Under Contract
  • ON SITE: 139 Days
  • ID#: 22-181089
Under Contract
UPDATED: 28 min ago
$5,750,000
  • 20
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,024
    SQFT
  • $574
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2018
County:
Area:

School Ratings & Info

Description

Completed in 2019, Common Penmar is a best in class, 4-unit property that is being professionally operated as a co-living property with 20 furnished suites (private bedrooms) rented individually. Many of the suites also include a private bathroom. The unit mix at the property is comprised of two units that feature four bedrooms and four bathrooms, and the other two units that feature six bedrooms and four bathrooms. The apartments have high end finishes, quality appliances, beautiful community space and wonderful natural light. An incredible amenity at the property is the rooftop deck that spans the building, provides multiple seating areas and BBQs for the tenants' use and offers full 360-degree views. Co-living is a popular form of residential renting that has swept the nation. It offers residents a ton of flexibility and an array of amenities by renting furnished, private rooms on a short-term or long-term basis. The units at Common Penmar include large kitchens and beautiful living rooms that create valuable communal space and interactivity among the residents. WiFi and all utilities are included for the tenants convenience. For an investor who is not as familiar with co-living, Common Penmar can also be easily converted to a traditional multifamily property rented by the unit with long-term leases. The Property is ideally positioned to rent to either families or roommates that wish to be in such a prime location.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-07T10:42:48.187. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.realestatetoolbox.com/homes/131096337
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2432 Penmar Ave Venice, CA 90291

  • Price: $5,750,000
  • Status: Active Under Contract
  • On Site: 139 Days
  • Updated: 28 min ago
  • ID#: 22-181089
20
Beds
0
Baths
0
½ Baths
0.13
Acres
10,024
SQFT
$574
$/SQFT
2018
Built
Neighborhood:
Venice
County:
Los Angeles
Area:
Venice
Property Description
Completed in 2019, Common Penmar is a best in class, 4-unit property that is being professionally operated as a co-living property with 20 furnished suites (private bedrooms) rented individually. Many of the suites also include a private bathroom. The unit mix at the property is comprised of two units that feature four bedrooms and four bathrooms, and the other two units that feature six bedrooms and four bathrooms. The apartments have high end finishes, quality appliances, beautiful community space and wonderful natural light. An incredible amenity at the property is the rooftop deck that spans the building, provides multiple seating areas and BBQs for the tenants' use and offers full 360-degree views. Co-living is a popular form of residential renting that has swept the nation. It offers residents a ton of flexibility and an array of amenities by renting furnished, private rooms on a short-term or long-term basis. The units at Common Penmar include large kitchens and beautiful living rooms that create valuable communal space and interactivity among the residents. WiFi and all utilities are included for the tenants convenience. For an investor who is not as familiar with co-living, Common Penmar can also be easily converted to a traditional multifamily property rented by the unit with long-term leases. The Property is ideally positioned to rent to either families or roommates that wish to be in such a prime location.
Exterior Features

Lot Size Area 5534 Other Structures None Parking Garage Community GarageControlled EntranceCovered Parking Total Parking 8

Interior Features

Baths Total 16.00 Cooling Central Equipment DishwasherDryerMicrowaveBarbequeFreezerHood FanWasher Heating Central

Property Features

Assessed Total Value 5565061 Gross Income 513454 Gross Operating Income 487781 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 280557.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 212324 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Bryan Glenn DRE#01441095 of Kidder Mathews Of California, Inc.: 858-369-3010.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-07T10:42:48.187. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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