2432 Penmar Avenue

Venice, CA 90291

$5,450,000
Last Sold Price
20
Beds
16
Baths
10,024 Sq. Ft.
$544 / Sq. Ft.
10,024
Sq. Ft.
$544
per Sq. Ft.

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...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.
  1. Listed by Bryan Glenn • DRE #01441095 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 2432 Penmar Avenue

Zoning
LARD1.5
Parcel Number
4236004044
Total Units
4.0
Living Area
10024
Source Living Area
Vendor Enhanced
Area
Venice (C11)
Vacancy Rate
24462
Lot Size Area
5534

Location

Listing Courtesy of Kidder Mathews of California, Inc., Bryan Glenn, DRE #01441095

Sold By Kidder Mathews of California, Inc., Scott Rosenberg, DRE #01456686

Add your commute
LISTING UPDATED: 01/17/2023 04:46 PM

Property Details for 2432 Penmar Avenue

StatusSold
MLS #22-181089
Days on Market84
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2018
Lot Size0.13 AC / 5,534 SF
CountyLos Angeles County

Location

Listing Courtesy of Kidder Mathews of California, Inc., Bryan Glenn, DRE #01441095

Sold By Kidder Mathews of California, Inc., Scott Rosenberg, DRE #01456686

Add your commute

Building Information for 2432 Penmar Avenue

Stories4Residences-Year Built2018Building Size-Lot Size0.13 AC / 5,534 SF

Payment Calculator

$29,743 per month

30 year fixed, 7.25% Interest

Principal and Interest

$29,743

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2432 Penmar Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 4
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $487,781
  • Net Operating Income: $280,557.00
  • Gross Income: $513,454
  • Cap Rate: 4.88%
  • Gross Rent Multiplier: $11.20
  • Total Annual Expense: 212324
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.127
  • Lot Size Square Feet: 5534
Parking Details
Parking Details
  • Parking Garage: Community Garage, Controlled Entrance, Covered Parking
  • Total Parking: 8
  • Garage Spaces Total: 8
  • Parking Features: Community Structure, Controlled Entrance, Covered
Interior Features
Interior Features
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Dishwasher, Dryer, Microwave, Barbeque, Freezer, Hood Fan, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-20-2022
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: Yes
  • Unit Rent: $8,873.00
  • Unit Actual Rent: $8,873.00
  • Unit Projected Rent: $8,873.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $8,169.00
  • Unit Actual Rent: $8,169.00
  • Unit Projected Rent: $8,169.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 6
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $11,217.00
  • Unit Actual Rent: $11,217.00
  • Unit Projected Rent: $11,217.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 6
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $12,110.00
  • Unit Actual Rent: $12,110.00
  • Unit Projected Rent: $12,110.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,421,832.00
  • Assessed Improvement Percent: 43.52
  • Assessed Land Value: $3,143,229.00
  • Assessed Land Percent: 56.48
  • Assessed Total Value: $5,565,061.00

Property History for 2432 Penmar Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2432 Penmar Avenue

Taxable ValueLand$1,514,335Additions$1,623,268Total$3,137,603
Home Facts
Total Finished SqFt10,024 SqFtAbove Grade Finished SqFt10,024 SqFtLot Size6,036 SqFtStyleDuplexYear Built2018Year Renovated2018ZoningLARD1.5CountyLOS ANGELESAPN4236004007

Schools near 2432 Penmar Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Beethoven Street Elementary School
PublicK to 5

Venice Senior High School
Public9 to 12

Phoenix Continuation School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews of California, Inc., Bryan Glenn, DRE #01441095

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.