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6.41 CAP 14 Units in A+ Venice Location 2001 Penmar Ave 14 Unit Apartment Building $6,827,865 CAD ($487,705 CAD/Unit) 6.41% Cap Rate Venice, CA 90291
Investment Highlights
- Prime Venice location on a quiet, tree-lined corner at Penmar & Superba Avenue
- 14 total units with an ideal mix of studios, 1-bedroom, and 2-bedroom floor plans
- Three newly constructed ADUs (Accessory Dwelling Units): 2 attached + 1 detached
- 6.41 CAP RATE
- 10 of 14 units fully renovated with high-end finishes and luxury features
- LOAN MUST BE ASSUMED: INQUIRE FOR DETAILS
Executive Summary
2001 Penmar Avenue is 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. The property is nestled on a peaceful residential corner, yet moments from Abbot Kinney Boulevard, Rose Avenue, Venice Beach, and Santa Monica. There is an excellent unit mix with a diverse mix of bright and spacious studio, 1-bedroom, and 2-bedroom units, many with large private patios. 10 of 14 units have been 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. In addition, three brand-new ADUs (Accessory Dwelling Units) two attached and one detached offer modern layouts and strong rent potential. There is still considerable rental upside as 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. **** LOAN MUST BE ASSUMED, INQUIRE FOR DETAILS *****
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$616,121
|
$82.49
|
| Other Income |
$2,460
|
$0.33
|
| Vacancy Loss |
$18,484
|
$2.47
|
| Effective Gross Income |
$600,098
|
$80.35
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$162,135
|
$21.71
|
| Net Operating Income |
$437,962
|
$58.64
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $616,121 |
| Annual Per SF | $82.49 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,460 |
| Annual Per SF | $0.33 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $18,484 |
| Annual Per SF | $2.47 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $600,098 |
| Annual Per SF | $80.35 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $162,135 |
| Annual Per SF | $21.71 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $437,962 |
| Annual Per SF | $58.64 |
Property Facts
| Price | $6,827,865 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $487,705 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 6.41% | Building Size | 9,532 SF |
| Gross Rent Multiplier | 11.04 | Average Occupancy | 93% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | ||
| Zoning | R3, Los Angeles - Multiple Family Dwelling Residential | ||
| Price | $6,827,865 CAD |
| Price Per Unit | $487,705 CAD |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| Gross Rent Multiplier | 11.04 |
| 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 | 93% |
| 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 | - | 300 |
| 1+1 | 4 | - | 600 |
| 2+1 | 5 | - | 750 |
| 2+2 | 3 | - | 1,200 |
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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 | $1,734,641 CAD (2025) |
| Land Assessment | $3,035,623 CAD (2025) | Total Assessment | $4,770,264 CAD (2025) |
Property Taxes
Parcel Number
4242-009-011
Land Assessment
$3,035,623 CAD (2025)
Improvements Assessment
$1,734,641 CAD (2025)
Total Assessment
$4,770,264 CAD (2025)
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6.41 CAP 14 Units in A+ Venice Location | 2001 Penmar Ave
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