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Penmar Ave /Marco Pl 2045 Penmar Ave 4 Unit Apartment Building $1,699,000 ($424,750/Unit) 5.22% Cap Rate Venice, CA 90291
INVESTMENT HIGHLIGHTS
- Corner Lot | 4-Unit in Prime Venice Beach
- Comprised of (4) 1-Bed/1-Bath Units
- Two Single-Car Garages with ADU Potential, plus 4 additional parking spots
- 3 Units will be delivered Vacant!
- Property features new roof, 90% updated plumbing, a shared laundry room, and two private backyards.
EXECUTIVE SUMMARY
CORNER LOT ! 3 out of 4 Units will be delivered VACANT! Charming 4-Unit Investment Opportunity in Prime Venice Location Built in 1949, this well-maintained 4-unit apartment building sits on a 4,364 sq ft lot and offers a total of 1,870 sq ft of living space. Each unit is a 1-bedroom, 1-bath, ideally situated on a quiet, tree-lined street in one of Venice’s most sought-after residential neighborhoods. Presenting immediate upside for investors or owner-users will operate at 5.22% CAP & 13.31 GRM.
Recent upgrades include a new roof, approximately 90% updated plumbing, and a shared laundry room. The property also boasts two private backyards, two single-car garages with ADU potential, and three additional off-street parking spaces—a rare convenience in Venice.
Located just down the street from Penmar Golf Course and moments from popular cafes, restaurants, fitness studios, and top-rated schools. This high-demand location supports strong, consistent rental income and long-term appreciation potential.
Recent upgrades include a new roof, approximately 90% updated plumbing, and a shared laundry room. The property also boasts two private backyards, two single-car garages with ADU potential, and three additional off-street parking spaces—a rare convenience in Venice.
Located just down the street from Penmar Golf Course and moments from popular cafes, restaurants, fitness studios, and top-rated schools. This high-demand location supports strong, consistent rental income and long-term appreciation potential.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,699,000 | Apartment Style | Low-Rise |
| Price Per Unit | $424,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.22% | Building Size | 1,870 SF |
| Gross Rent Multiplier | 13.31 | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1949 |
| Property Subtype | Apartment | Parking Ratio | 3.21/1,000 SF |
| Zoning | LARD2 - restricted Density Multiple Dwelling | ||
| Price | $1,699,000 |
| Price Per Unit | $424,750 |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| Gross Rent Multiplier | 13.31 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 1,870 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built | 1949 |
| Parking Ratio | 3.21/1,000 SF |
| Zoning | LARD2 - restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Ceiling Fans
- Tile Floors
- Hardwood Floors
- Oven
- Range
- Tub/Shower
- Yard
- Patio
- Trash Compactor
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $2,317 | 467 |
1 1
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 4242-005-015 | Total Assessment | $161,360 (2025) |
| Land Assessment | $83,630 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $77,730 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4242-005-015
Land Assessment
$83,630 (2025)
Improvements Assessment
$77,730 (2025)
Total Assessment
$161,360 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Penmar Ave /Marco Pl | 2045 Penmar Ave
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