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Beautifully Remodeled 14 Units in Venice 2001 Penmar Ave 14 Unit Apartment Building $5,095,000 ($363,929/Unit) 6.20% Cap Rate Venice, CA 90291
Investment Highlights
- Corner multifamily property located in the heart of Venice near Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and Santa Monica.
- Ten units have undergone extensive interior renovations with updated finishes and modernized living spaces.
- The asset features a mix of studio, one-bedroom, and two-bedroom residences, providing broad tenant appeal.
- Three newly constructed ADUs provide additional income-generating opportunities.
Executive Summary
Jonathan Taksa of the Taksa Investment Group is pleased to present 2001 Penmar Avenue, 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. Property Highlights * Prime Venice Location: Nestled on a peaceful residential corner, yet moments from Abbot Kinney Boulevard, Rose Avenue, VeniceBeach, and Santa Monica.* Excellent Unit Mix: A diverse mix of bright and spacious studio, 1-bedroom, and 2-bedroom units, many with large private patios. * Luxury Renovations: 10 of 14 units 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.* New Construction: Three brand-new ADUs (Accessory Dwelling Units) two attached and one detached offer modern layouts and strong rent potential.* Natural Light: Units are flooded with sunlight, enhancing the livability and tenant appeal. * Rental Upside: 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.
Property Facts
| Price | $5,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $363,929 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 6.20% | Building Size | 9,532 SF |
| Gross Rent Multiplier | 11.34 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | ||
| Zoning | R3, Los Angeles - Multiple Family Dwelling Residential | ||
| Price | $5,095,000 |
| Price Per Unit | $363,929 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Gross Rent Multiplier | 11.34 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 9,532 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Zoning | R3, Los Angeles - Multiple Family Dwelling Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Patio
Site Amenities
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 450 |
| 1+1 | 4 | - | 625 |
| 2+1 | 5 | - | 758 |
| 2+2 | 3 | - | 758 |
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Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 4242-009-011 | Improvements Assessment | $1,720,334 |
| Land Assessment | $2,273,106 | Total Assessment | $3,993,440 |
Property Taxes
Parcel Number
4242-009-011
Land Assessment
$2,273,106
Improvements Assessment
$1,720,334
Total Assessment
$3,993,440
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Beautifully Remodeled 14 Units in Venice | 2001 Penmar Ave
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