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Penmar Ave /Marco Pl 2045 Penmar Ave 4 Unit Apartment Building £1,270,470 (£317,618/Unit) 5.22% Net Initial Yield 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 sq ft |
|---|---|---|
| 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 sq ft | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
PROPERTY FACTS
| Price | £1,270,470 | Apartment Style | Low-Rise |
| Price Per Unit | £317,618 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.10 ac |
| Yield | 5.22% | Property Size | 1,870 sq ft |
| Gross Rent Multiplier | 13.31 | Average Occupancy | 50% |
| No. Units | 4 | No. Floors | 1 |
| Property Type | Build-to-Rent | Year Built | 1949 |
| Property Subtype | Apartment | Parking Allocation | 3.21/1,000 sq ft |
| Use Class | LARD2 - restricted Density Multiple Dwelling | ||
| Price | £1,270,470 |
| Price Per Unit | £317,618 |
| Sale Type | Investment |
| Yield | 5.22% |
| Gross Rent Multiplier | 13.31 |
| No. Units | 4 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.10 ac |
| Property Size | 1,870 sq ft |
| Average Occupancy | 50% |
| No. Floors | 1 |
| Year Built | 1949 |
| Parking Allocation | 3.21/1,000 sq ft |
| Use Class | LARD2 - restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Ceiling Fans
- Tile Floors
- Wooden Floors
- Oven
- Range
- Tub/Shower
- Yard
- Patio
- Trash Compactor
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 4 | £1,733 | 467 |
1 1
Walk Score®
Easily Walkable (82)
Bike Score®
Good for cycling (79)
PROPERTY TAXES
| Parcel Number | 4242-005-015 | Total Assessment | £120,661 (2025) |
| Land Assessment | £62,536 (2025) | Annual Taxes | -£1 (£0.00/sq ft) |
| Improvements Assessment | £58,125 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4242-005-015
Land Assessment
£62,536 (2025)
Improvements Assessment
£58,125 (2025)
Total Assessment
£120,661 (2025)
Annual Taxes
-£1 (£0.00/sq ft)
Tax Year
2024
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Penmar Ave /Marco Pl | 2045 Penmar Ave
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