NOT LISTED FOR SALE

2432 Penmar Ave Venice, CA 90291

Venice Neighborhood

Estimated Value: $5,737,000 - $5,752,000

20 Beds
16 Baths
10,024 Sq Ft
$573/Sq Ft Est. Value

Last Sold January 13, 2023

Last sale price $5,450,000 $544 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $35,709/month

84 Days on Market

Highlights

  • Outdoor Grill
  • Central Heating and Cooling System
  • Controlled Entrance
  • Beethoven Street Elementary School Rated 9+

About This Home

As of January 2023

Completed in 2019, Common Penmar is a best in class, 4-unit property that is being professionally operated as a co-living property with 20 furnished suites (private bedrooms) rented individually. Many of the suites also include a private bathroom. The unit mix at the property is comprised of two units that feature four bedrooms and four bathrooms, and the other two units that feature six bedrooms and four bathrooms. The apartments have high end finishes, quality appliances, beautiful community space and wonderful natural light. An incredible amenity at the property is the rooftop deck that spans the building, provides multiple seating areas and BBQs for the tenants' use and offers full 360-degree views. Co-living is a popular form of residential renting that has swept the nation. It offers residents a ton of flexibility and an array of amenities by renting furnished, private rooms on a short-term or long-term basis. The units at Common Penmar include large kitchens and beautiful living rooms that create valuable communal space and interactivity among the residents. WiFi and all utilities are included for the tenants convenience. For an investor who is not as familiar with co-living, Common Penmar can also be easily converted to a traditional multifamily property rented by the unit with long-term leases. The Property is ideally positioned to rent to either families or roommates that wish to be in such a prime location.

Last Agent to Sell the Property

Bryan Glenn

Kidder Mathews of California, Inc. License #01441095 Listed on: 07/19/2022

Last Buyer's Agent

Scott Rosenberg

Kidder Mathews of California, Inc. License #01456686

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $67,689

Year Built

  • Built in 2018

Lot Details

  • 5,534

Parking

  • 8 Car Garage
  • Parking Garage Space
  • Controlled Entrance

Interior Spaces

  • 10,024 Sq Ft Home
  • 4-Story Property

Kitchen

  • Microwave
  • Freezer
  • Dishwasher

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 16 Bathrooms

Laundry

  • Dryer
  • Washer

Additional Features

  • Outdoor Grill
  • 5,534 Sq Ft Lot
  • Central Heating and Cooling System

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 4236-004-044

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$67,689

Year Built

Built in 2018

Lot Details

0

Parking

8

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 10024
  • Lot Acreage: 0.1270
  • Stories: 4
  • Year Built: 2018
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 20
  • Total Bathrooms: 16.00
  • Equipment: Dishwasher, Dryer, Microwave, Barbeque, Freezer, Hood Fan, Washer
  • Price Per S Q F T: 573.62

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 8
  • Parking Garage: Community Garage, Controlled Entrance, Covered Parking
  • Total Parking: 8

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Assessed Improvement Percent: 43.52
  • Assessed Improvement Value: 2421832
  • Assessed Land Percent: 56.48
  • Assessed Land Value: 3143229
  • Total Assessed Value: 5565061
  • Assessor Parcel Number: 4236-004-044
  • Lot Size Area: 5534

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 11.20
  • Number Of Units: 4
  • Type Of Units: Apartments

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 19, 2022
Closed on
Jan 3, 2023
Sold by
2432 Penmar Owner Llc
Bought by
Penmar Ave Apts Llc
Seller's Agent
Bryan Glenn
Kidder Mathews of California, Inc.
Buyer's Agent
Scott Rosenberg
Kidder Mathews of California, Inc.
List Price
$6,250,000
Sold Price
$5,450,000
Premium/Discount to List
-$800,000
-12.8%
Views
10
Current Estimated Value
$5,744,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$294,500
Avg. Annual Appreciation
1.90%
Original Mortgage
$4,087,500
Interest Rate
6.58%
Mortgage Type
Construction

Purchase Details

Listed on
Sep 6, 2018
Closed on
May 9, 2019
Sold by
Deputy Dog Llc
Bought by
2432 Penmar Owner Llc
Seller's Agent
Kimberly Roberts Stepp
Keller Williams Beverly Hills
Buyer's Agent
John Dale
List Price
$5,995,000
Sold Price
$5,400,000
Premium/Discount to List
-$595,000
-9.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.25%
Interest Rate
4.08%

Purchase Details

Listed on
Sep 6, 2018
Closed on
Apr 8, 2019
Sold by
Deput
Bought by
Cyla
Seller's Agent
Kimberly Roberts Stepp
Keller Williams Beverly Hills
Buyer's Agent
John Dale
List Price
$5,995,000
Sold Price
$5,400,000
Premium/Discount to List
-$595,000
-9.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Interest Rate
4.08%

Purchase Details

Listed on
Dec 1, 2014
Closed on
Apr 1, 2015
Sold by
Halligan Jennifer
Bought by
Deputy Dog Llc
Seller's Agent
Tamra Pardee
Pardee Properties
Buyer's Agent
Ron Maman
Rodeo Realty
List Price
$1,395,000
Sold Price
$1,378,000
Premium/Discount to List
-$17,000
-1.22%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
39.76%
Original Mortgage
$757,900
Interest Rate
6%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Oct 30, 2009
Sold by
Halligan Kieran
Bought by
Halligan Jennifer

Purchase Details

Closed on
Aug 1, 2005
Sold by
Murray Thomas W and Murray Michelle M
Bought by
Halligan Kieran

Purchase Details

Closed on
Feb 28, 2003
Sold by
Murray Thomas W and Murray Michelle M
Bought by
Murray Thomas W and Murray Michelle M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$342,700
Interest Rate
5.85%

Purchase Details

Closed on
Oct 3, 2001
Sold by
Burnett Merrill P and Burnett Mary L
Bought by
Murray Thomas W and Murray Michelle M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$351,950
Interest Rate
6.84%

Purchase Details

Closed on
Apr 5, 1999
Sold by
Garcia Samuel and Garcia Leticia
Bought by
Burnett Merrill and Burnett Mary L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$288,000
Interest Rate
3.35%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Penmar Ave Apts Llc $5,450,000 Chicago Title
2432 Penmar Owner Llc $5,400,000 None Available
Cyla -- --
Deputy Dog Llc $1,378,000 Fidelity National Title Co
Halligan Jennifer -- None Available
Halligan Kieran -- Fidelity National Title Co
Murray Thomas W -- Fidelity National Title Co
Murray Thomas W $476,000 Fidelity National Title Co
Burnett Merrill $360,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Penmar Ave Apts Llc $4,087,500
Previous Owner Cyla --
Previous Owner Deputy Dog Llc $757,900
Previous Owner Murray Thomas W $342,700
Previous Owner Murray Thomas W $351,950
Previous Owner Burnett Merrill $288,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/13/2023 01/13/23 Sold $5,450,000 0.0% $544 / Sq Ft
01/05/2023 01/05/23 Price Changed $1,841 -3.7% $15 / Sq Ft
01/03/2023 01/03/23 Price Changed $1,912 +3.9% $16 / Sq Ft
01/01/2023 01/01/23 Price Changed $1,841 0.0% $15 / Sq Ft
01/01/2023 01/01/23 For Rent $1,841 +13.2% --
10/26/2022 10/26/22 Price Changed $1,627 -8.9% $13 / Sq Ft
10/15/2022 10/15/22 For Rent $1,786 0.0% --
10/11/2022 10/11/22 Pending -- -- --
09/12/2022 09/12/22 Price Changed $5,750,000 0.0% $574 / Sq Ft
09/06/2022 09/06/22 Price Changed $1,786 +9.8% $15 / Sq Ft
07/20/2022 07/20/22 For Rent $1,627 0.0% --
07/19/2022 07/19/22 For Sale $6,250,000 +15.7% $624 / Sq Ft
05/15/2019 05/15/19 Sold $5,400,000 -9.9% $535 / Sq Ft View Prior Sale
11/20/2018 11/20/18 Pending -- -- --
05/23/2018 05/23/18 For Sale $5,995,000 +335.1% $594 / Sq Ft
04/17/2015 04/17/15 Sold $1,378,000 -1.2% $1,117 / Sq Ft View Prior Sale
02/25/2015 02/25/15 Pending -- -- --
12/01/2014 12/01/14 For Sale $1,395,000 -- $1,130 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $67,689 $5,670,180 $2,080,800 $3,589,380
2024 $67,689 $5,559,000 $2,040,000 $3,519,000
2023 $70,445 $5,789,887 $3,270,214 $2,519,673
2022 $67,150 $5,676,361 $3,206,093 $2,470,268
2021 $66,313 $5,565,061 $3,143,229 $2,421,832
2020 $34,744 $3,137,603 $1,514,335 $1,623,268
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2023

    Bryan Glenn

    Kidder Mathews of California, Inc.

    (858) 369-3010

    1 in this area

    15 Total Sales

    Bryan Glenn
    Section Image
  • Scott Rosenberg

    Buyer's Agent in 2023

    Scott Rosenberg

    Kidder Mathews of California, Inc.

    2 in this area

    19 Total Sales

    Scott Rosenberg
    Section Image
  • Kimberly Roberts Stepp

    Seller's Agent in 2019

    Kimberly Roberts Stepp

    Keller Williams Beverly Hills

    (310) 482-2200

    11 Total Sales

    Kimberly Roberts Stepp
    Section Image

  • J

    Buyer's Agent in 2019

    John Dale

  • Tamra Pardee

    Seller's Agent in 2015

    Tamra Pardee

    Pardee Properties

    (310) 907-6517

    234 in this area

    874 Total Sales

    Tamra Pardee
    Section Image
  • Ron Maman

    Buyer's Agent in 2015

    Ron Maman

    Rodeo Realty

    (818) 469-7021

    2 in this area

    29 Total Sales

    Ron Maman
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 22-181089

The MLS

APN: 4236-004-044

California Los Angeles County Venice 90291 Venice

2432 Penmar Ave, Venice, CA

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