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

2045 Penmar Avenue, Venice, California 90291 home-pic-0

2045 Penmar Avenue

Venice, California 90291

ACTIVE
CONDITION: FAIR
4Beds
4Baths
1,870Sq Ft
4,364Lot Size

Property Price

LIST PRICE$1,684,000

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

Fair
TeardownExcellent

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 While functional and maintained, these areas show clear signs of being outdated and would require minor to moderate renovations to meet current aesthetic and quality standards, aligning with the 'Fair' category.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

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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

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