2001 Penmar Ave · Los Angeles, CA 90291

$4,995,000

280 bd · 238.0 ba · 9,532 sqft · MultiFamily · 51 Days on market

Built 1962 Good condition 10,370 sqft lot $524/sqft · at area comps Est $4878k · at est.

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +6.4/15.0
• Appreciation +4.6/10.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 14 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

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 * * * * *

Key facts

• Large private patios
• High-end finishes
• Exceptional unit mix

Tags

• TURNKEY MULTIFAMILY ASSET
• EXCEPTIONAL UNIT MIX
• NEWLY CONSTRUCTED ADUS
• LARGE PRIVATE PATIOS
• FULLY RENOVATED UNITS
• HIGH-END FINISHES

What this means for you Summary

Snapshot

• This is a 14 × 20-bed/?-bath units multifamily listed at $5.00M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $24k ($292k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($74k rent vs $5.00M).
• Recommended offer: $4.85M (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 223 active listings in the ZIP; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $74,483/mo this rent would consume 728% of the median local household income ($123k/yr) (locally 2471% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $35k of loan paydown is wiped out by about $40k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.8% appreciation + 0.5% rent growth), your $1.40M cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($4.85M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $3.30M; list at $5.00M implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $4,845,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.49% ✓
• Cap rate: 12.14%
• Cash-on-cash: 20.87%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

• ARV (median comp): $4,878,311
• List price: $4,995,000
• Delta: 2.39%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-0.81% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.74×
• Total profit: $1,036,658
• Equity at exit: $1,251,686

10-year hold

• IRR: 20.2%
• Equity multiple: 2.89×
• Total profit: $2,648,261
• Equity at exit: $1,353,931

Cash invested: $1,398,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90291

• Home prices YoY: -0.2%
• Rents YoY: 0.5%
• Active inventory: 223
• Price-to-rent: 78.2×

Monthly cashflow live

• Estimated rent: $74,483 medium
• Mortgage (P&I): −$26,194
• Tax est. 1.5%: −$6,244 /mo · $74,925/yr
• Insurance: −$2,081
• HOA: −$0
• Vacancy / Maint / Mgmt: −$15,641
• Net cashflow: $24,322

Break-even live

Break-even rent $43,695

Max offer price $4,995,000

Occupancy floor 62%

Sensitivity live

Price	-10% $27,774	-5% $26,048	+0% $24,322	+5% $22,596	+10% $20,870
Rent	-10% $18,438	-5% $21,380	+0% $24,322	+5% $27,264	+10% $30,206
Rate	-1.0pp $26,838	-0.5pp $25,593	base $24,322	+0.5pp $23,028	+1.0pp $21,711

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	20	—	$74,480
Total (14 units)			$74,483

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,248,750
• Closing costs: $149,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $4,995,000 Active 51 DOM
2. 2026-06-17
   days on market $4,995,000 Active 50 DOM
3. 2026-06-16
   days on market $4,995,000 Active 49 DOM
4. 2026-06-15
   days on market $4,995,000 Active 48 DOM
5. 2026-06-13
   days on market $4,995,000 Active 46 DOM
6. 2026-06-09
   days on market $4,995,000 Active 42 DOM
7. 2026-06-08
   days on market $4,995,000 Active 41 DOM
8. 2026-06-07
   days on market $4,995,000 Active 40 DOM
9. 2026-06-04
   days on market $4,995,000 Active 37 DOM
10. 2026-06-03
    days on market $4,995,000 Active 36 DOM
11. 2026-06-02
    days on market $4,995,000 Active 35 DOM
12. 2026-06-01
    days on market $4,995,000 Active 34 DOM
13. 2026-05-31
    days on market $4,995,000 Active 33 DOM
14. 2026-04-28
    listed $4,995,000 Active 2207-char remark

    Show marketing remark (2207 chars)

    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 * * * * *

15. 2025-05-27
    listed Active
16. 2022-11-28
    listed Active
17. 2022-01-14
    soldstatus $3,300,000 Sold
18. 2021-09-09
    status Pending
19. 2021-08-25
    listed $3,500,000 Active
20. 1998-09-01
    historical
21. 1998-06-01
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥83°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $893,796
• − Mortgage interest: −$279,798
• − Property taxes: −$74,925
• − Insurance: −$24,975
• − Repairs & maintenance: −$71,504
• − Management: −$71,504
• − Depreciation: −$145,309
• Taxable income: $225,782
• Est. tax owed @ 24.0%: −$54,188
• After-tax cash flow: $237,679/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 14-unit multifamily property is in excellent condition with modern renovations and a strong unit mix, making it a turnkey investment opportunity.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in common areas — Modernizes the space and adds value
• Both Upgrading kitchen appliances — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in common areas — Modernizes the space and adds value ↑
• Both Upgrading kitchen appliances — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 26,324
• Household income: $122,738
• Rent vs Own: 67.1% rent · 32.9% own
• Severe rent burden: 2471.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Two or more races 11% Asian 6% Black 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 5% Lithuanian 4% Romanian 3%
• Foreign-born: 21% · Canada, China, Dominican Republic
• Languages at home: 72% English-only · Spanish 13% French/Haitian/Cajun 4% Other Indo-European 4%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.81%
• Current HPI: 377.6708
• Rent YoY: ▲ 0.53%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+42.7% since first listed

8 events — show timeline

• 2026-04-28 Listed $4,995,000 TheMLS
• 2025-05-27 Listed — TheMLS
• 2022-11-28 Listed — TheMLS
• 2022-01-14 Sold (MLS) $3,300,000 TheMLS
• 2021-09-09 Pending — TheMLS
• 2021-08-25 Listed $3,500,000 TheMLS
• 1998-09-01 Delisted — TheMLS
• 1998-06-01 Listed — TheMLS