Listed by Bryan Glenn, Kidder Mathews of California, Inc.,

2432 Penmar Avenue

Venice, CA, 90291

$5,750,000

$573 per ft²
$5,750,000
$573 per ft²
Active Under Contract
Active Under Contract
 - For Sale
beds
20 Beds
baths
16 Baths
carpenters-square
10,024 ft²
property_type
Multi-family
calendar
Built 2018
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.
MLS® ID:
22181089
Listed:
7/18/22
Updated:
12/1/22

Interior Features

Kitchen Appliances
Barbecue, Dishwasher, Microwave, Dryer, Washer
Total Bedrooms
20
Total Bathrooms
16
Cooling
Central Air
Heating
Central

Exterior/Building Features

Lot Size
5,534 ft² lot

Other Property Details

Area Name
C11 - Venice
Garage
Yes
Garage Spaces
8
Parking
Controlled Entrance, Covered, Community Structure
Parking Total
8.0
View
N
County
Los Angeles
Pool
No
Total Stories
4
Zoning
LARD1.5

Property History

Date
Event
Price
Value
10/12/22
Active Under Contract
-
-
9/12/22
Price Change
$5,750,000
-7%

Courtesy of Kidder Mathews of California, Inc., Bryan Glenn,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/1/22. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 6:36 AM UTC, 12/1/22

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