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2337 Penmar Avenue

Venice, CA 90291
  • $2,900,000
  • STATUS: Pending
  • ON SITE: 20 Days
  • ID#: 22153105
Pending
UPDATED: 76 min ago
$2,900,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1955
County:
Area:

School Ratings & Info

Listing Agent(s): Keith Moret of Keller Williams Beach Cities (310-939-9300)


Description

This 8 Unit investment in Venice will benefit the savvy investor with steady increases in cash flow from the Red-hot Westside rental market and appreciating property values. Tenants can walk to Costco, Villa Marina Marketplace, Penmar Golf course and restaurants and shops on Abbot Kinney. There are (2) 2BR/1BA units and (6) 1BR/1BA units with 25% upside in rents. The property has separate meters for gas & electric and 5 parking spaces with well manicured and mature landscaping. The desirable zoning of Lar4 make this an excellent prospect for development in the future as it allows for 20 Units By Right (check with the city). The property has been in same family and Professionally managed for decades. Don't miss out on the rare opportunity to own in Venice.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T09:30:26.053. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128402140
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2337 Penmar Avenue Venice, CA 90291

  • Price: $2,900,000
  • Status: Pending
  • On Site: 20 Days
  • Updated: 76 min ago
  • ID#: 22153105
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1955
Built
Neighborhood:
C11 - Venice
County:
Los Angeles
Area:
C11 - Venice
Property Description
This 8 Unit investment in Venice will benefit the savvy investor with steady increases in cash flow from the Red-hot Westside rental market and appreciating property values. Tenants can walk to Costco, Villa Marina Marketplace, Penmar Golf course and restaurants and shops on Abbot Kinney. There are (2) 2BR/1BA units and (6) 1BR/1BA units with 25% upside in rents. The property has separate meters for gas & electric and 5 parking spaces with well manicured and mature landscaping. The desirable zoning of Lar4 make this an excellent prospect for development in the future as it allows for 20 Units By Right (check with the city). The property has been in same family and Professionally managed for decades. Don't miss out on the rare opportunity to own in Venice.
Exterior Features

Direction Faces East Number Of Separate Electric Meters 8 Parking Features Assigned Parking Total 5

Interior Features

Appliances Disposal Cooling None Cooling YN No Heating None Heating YN No

Property Features

Additional Parcels YN No Association Fee 0 Gross Income 164940 Listing Agreement Seller Reserved Listing Service Full Service Listing Terms Cash Net Operating Income 95754 New Construction YN No Number Of Separate Gas Meters 8 Possession Close Of Escrow Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T09:30:26.053. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Keith Moret of Keller Williams Beach Cities (310-939-9300)