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2432 Penmar Avenue

Venice, CA 90291
  • $6,250,000
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: 22181089
UPDATED: 35 min ago
$6,250,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2018
County:
Area:

School Ratings & Info

Listing Agent(s): Bryan Glenn of Kidder Mathews Of California, Inc. (858-369-3010)


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 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T23:25:43.98. 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 Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
www.livelovebeachcities.com/homes/131097668
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2432 Penmar Avenue Venice, CA 90291

  • Price: $6,250,000
  • Status: Active
  • On Site: 18 Days
  • Updated: 35 min ago
  • ID#: 22181089
0
Beds
0
Baths
0
½ Baths
0.13
Acres
2018
Built
Neighborhood:
C11 - Venice
County:
Los Angeles
Area:
C11 - Venice
Property 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 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.
Exterior Features

Parking Features Controlled EntranceCoveredCommunity Structure Parking Total 0

Interior Features

Appliances BarbecueDishwasherMicrowaveDryerWasher Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Association Fee 0 Gross Income 489243 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 252457 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T23:25:43.98. 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 Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
 
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Bathurst Coastal Properties | Compass
2141 Rosecrans Ave, Suite 1120
El Segundo CA, 12345
Listing Agent(s): Bryan Glenn of Kidder Mathews Of California, Inc. (858-369-3010)