2478 Penmar Ave - Dormitory FOR SALE


Venice, CA 90291
$2,999,900 USD
800-735-9973
2478 Penmar Ave, Venice, CA for Sale
$2,999,900 USD
Dormitory - FOR SALE
1/114
null | 13.69% Cap Rate

2478 Penmar Ave
Venice, CA 90291


OVERVIEW

Built in 2019, high-quality new construction, concrete floors, steel frames, solar, courtyards, 2 Units SFR rental properties operated as a co-living community, up to 80 beds. This sales price and cap rate are contingent on the following: 1. Buyer to assume the $4,999,000 loan fixed rate at 4.99% interest only. (so the total price is $7.99M) 2. The cap rate assumes that the buyer to operate this as a Co-living community themselves, or the buyer can choose to extend the lease with the current operator, with a current cap rate of around 4.5%.

FOR SALE DETAILS

PRICE

$2,999,900 USD

PRICE/SF

$386 USD /SF

# OF UNITS

80

PRICE/UNIT

$37,499

CAP RATE

13.69%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Haven Coliving - Penmar

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Dormitory

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2019

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

LARD1.5

APN/PARCEL ID

4236-004-042

ASK ABOUT THIS PROPERTY

Johnney ZhangPrimior Asset ManagementMore Info
800-735-9973

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Johnney ZhangPrimior Asset ManagementMore Info
800-735-9973

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.