2474 Penmar Avenue, Venice, California 90291, Venice, 90291 - bed, bath

2474 Penmar Avenue, Venice, California 90291 home-pic-0
ACTIVE$1,650,000
2474 Penmar Avenue, Venice, California 90291
0Bed
0Bath
3,120Sqft
5,935Lot
Year Built
1961
Close
-
List price
$1.65M
Original List price
$1.65M
Price/Sqft
$529
HOA
-
Days on market
-
Sold On
-
MLS number
CV24228542
Home ConditionFair
Features
Patio
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $1.65M(50th), sqft - 3120(50th), beds - undefined(50th), baths - undefined(50th).

Great investment opportunity and prime location in the heart of Venice. This property features 3 units. The front unit is separated or detached from the other two units in the back. Front unit # is 2474 has 3 bedrooms. 1 full bathroom. Living room with laminated wood floors. The kitchen has a bay window and its own separate laundry room. 3 parking spaces in the front driveway. there is also plenty of parking on the street. 2nd) unit# is 2476 upper back. It also has 3 bedrooms. 1 full bathroom. the living room and kitchen has tile floors. washer/dryer. 3rd) unit # is 2476 1/2. Lower back. It also, offers 3 bedrooms. 1 full bathroom. Tile floors in living room and kitchen area, and also has its own washer and dryer. the backs units have two parking spaces per unit, located in the back of the units. There is a common patio area for all tenants where they can enjoy, relax, or B-B-Q with family and friends. This property is commuters friendly for those who take public transportation. Great restaurants, sport bars, shopping, and entertainment all around it. minutes away from Abbot Kinney & Venice beach. Great location, great investment and so much opportunity this 3 units complex has to offer.

Price History

Date
Event
Price
06/26/25
Sold
$1,490,000
Condition Rating
Fair

Built in 1961, this triplex shows its age with consistently dated interiors across all units. The kitchens feature older cabinetry, laminate countertops, and older appliances. Bathrooms have older tile work and basic vanities. While the property appears maintained and functional for rental purposes, with laminate and tile flooring in decent condition, there's no evidence of recent extensive renovations. The overall style and features are outdated, suggesting the property requires significant cosmetic updates and potential system upgrades to meet contemporary standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Prime Venice Location: Situated in the highly sought-after heart of Venice, offering unparalleled access to Abbot Kinney, Venice Beach, and a vibrant array of dining, shopping, and entertainment options.
Robust Investment Opportunity: A triplex configuration provides three distinct income streams, making it an attractive asset for investors seeking strong rental returns in a high-demand market.
Generous Parking Provisions: Features multiple dedicated parking spaces (3 in front, 2 per back unit) plus ample street parking, a significant advantage in a dense urban area like Venice.
Self-Contained Units with Laundry: Each of the three units is a spacious 3-bedroom, 1-bathroom, and includes its own in-unit laundry facilities, enhancing tenant convenience and appeal.
Tenant-Friendly Amenities & Accessibility: Offers a common patio area for tenant enjoyment and is highly commuter-friendly with easy access to public transportation.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-06-26. The sold price is $1,490,000.00.
Property Age & Potential for Obsolescence: Built in 1961, the property is over six decades old, which may necessitate significant capital expenditures for system upgrades, structural repairs, or modernization to meet contemporary standards.
Dated Interior Finishes (Implied): The description mentions basic floor types (laminated wood, tile) and lacks details on recent high-end renovations, suggesting interiors may be dated and require updates to maximize rental value in a premium market.
Increased Management Complexity: Operating a three-unit property with varying layouts, separate laundry, and a shared common area can present greater management challenges and demands compared to simpler investment properties.

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