The Sterman Multi-Family Group of Marcus & Millichap, in partnership with Michael Kamara of Lyon Stahl, is proud to present 2200 Penmar Ave—a charming 3-unit apartment building located in the heart of Venice, one of Los Angeles’ most desirable coastal neighborhoods.

Built in 1949, the property features (2) one-bedroom + one-bath units and (1) two-bedroom + one-bath unit, totaling approximately 2,054 square feet of rentable space on a 4,545 square foot lot. All units are equipped with in-unit washer and dryers, providing added convenience and appeal to tenants. Additionally, two of the units come with their own private garage parking and outdoor patios—ideal for enjoying the Venice beach lifestyle.

One unit will be delivered vacant at the close of escrow, offering an excellent opportunity for an owner-user or investor seeking to capitalize on immediate rental upside in a supply-constrained market.

Tucked away on a quiet residential street, 2200 Penmar offers tenants the perfect blend of tranquility and accessibility. Just minutes from the iconic Abbot Kinney Boulevard, Venice Beach, and a wide array of shopping, dining, and entertainment options, the location is second to none. Easy access to Lincoln Blvd, Venice Blvd, and major freeways ensures smooth connectivity to Santa Monica, Culver City, and beyond.

2200 Penmar Ave represents a unique value-add opportunity for investors due to the property’s location and rental upside. The property offers a initial CAP rate of 4.13% with the ability to improve to a 4.67% CAP rate once units turnover.

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1. Prime Venice Location
   Located in one of Los Angeles’ most desirable rental markets, just minutes from Abbot Kinney Blvd, Rose Ave, and Venice Beach.
2. Delivered Vacant Unit – Ideal for Owner-User
   One unit will be delivered vacant at close of escrow, creating a rare opportunity for an owner-user to live in a premier location while collecting rental income.
3. Desirable Amenities
   All units feature in-unit washer/dryers. Two units include private patios and garage parking—highly attractive features that boost rental value and tenant retention.
4. Proximity to Lifestyle Attractions
   Just 1.5 miles from Venice Beach and steps to popular restaurants, cafes, and nightlife—offering tenants a vibrant, walkable lifestyle.
5. Excellent Connectivity
   Convenient access to Venice Blvd, Lincoln Blvd, and the 10 Freeway allows for easy commuting to Santa Monica, Culver City, and Silicon Beach.
6. Value-Add Potential
   With one unit vacant and room to modernize interiors, investors can capture rental upside in a submarket with strong fundamentals and limited inventory.

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