2045 Penmar Avenue, Venice, California 90291, Venice, 90291 - 4 bed, 4 bath

2045 Penmar Avenue
Venice, California 90291
Property Price
SUMMARY
Analysis of 2045 Penmar Avenue, Venice, California 90291 is currently available with a list price of $1,684,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Venice Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1949, the property has received important system updates like a new roof and 90% updated plumbing, which are positive. However, the interior images reveal kitchens and bathrooms that are largely dated in style and features. Kitchens feature older white cabinets, tile countertops, and a mix of older and basic appliances. Bathrooms have basic vanities and dated tile work. While functional and maintained, these areas show clear signs of being outdated and would require minor to moderate renovations to meet current aesthetic and quality standards, aligning with the 'Fair' category.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location & Neighborhood
Situated in a highly desirable, quiet, tree-lined street in Venice, offering strong rental demand and long-term appreciation potential in a sought-after residential neighborhood.
- Significant Vacancy for Immediate Upside
Three out of four units delivered vacant provides immediate opportunity for market-rate adjustments or owner-occupancy, enhancing investment returns with a projected 6.51% CAP & 11.27 GRM.
- Recent Capital Improvements
Major upgrades including a new roof and approximately 90% updated plumbing reduce immediate capital expenditure and enhance the property's overall condition.
CONSRISKS & DEFICIENCIES
- Property Age
Built in 1949, the property may require ongoing maintenance typical of older buildings, despite recent upgrades, and could present challenges with modern aesthetic expectations.
- Limited Unit Configuration
All units are 1-bedroom, 1-bath, which restricts the potential tenant demographic and may not appeal to those seeking larger living spaces or families.
- Compact Unit Sizes
With 1,870 sq ft across four units, individual unit sizes are relatively small (approx. 467 sq ft per unit), which could be a consideration for tenant retention or attracting certain renters.
About 2045 Penmar Avenue
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 6.51% CAP & 11.27 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.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1949
- Lot Size
- 4,364 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1949 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Pricing History
Listed for Sale
Jan 30, 2026
$1,684,000
$1,699,000
-1% Price Drop
Initial Listing
Price Change
Oct 14, 2025
$1,699,000
Initial Listing

































