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2236 Penmar Avenue, Venice,...

Gary Goren Acquires Multifamily Property On Penmar Ave In Venice For $1.55M
SOLDMultiFamily

Gary Goren Acquires Multifamily Property On Penmar Ave In Venice For $1.55M

2236 Penmar Avenue, Venice, California 90291, United States

$1,550,000

$838/SF

Building Size

1,848 SF

Asset Type

MultiFamily

Closing

Mar 22, 2022

AI

The multifamily property located at 2236 Penmar Ave. in Venice was sold on 03/23/2022. The deal was facilitated by brokers Zac Freehling and Mick Jordan from Pacific Partners Los Angeles. The property spans 1,848 square feet and was sold at a price of $1,550,000, resulting in a price per square foot of $838.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,550,000
  • Address: 2236 Penmar Ave.
  • Market: Venice

The buyer of the property was Gary Goren, while the seller was Ira Sandron. Zac Freehling and Mick Jordan, representing Pacific Partners Los Angeles, played key roles as brokers in the transaction.

Players

Zac Freehling

Pacific Partners Real Estate Investments

Broker

$237.5M

vol

61 deals

Broker
Gary Goren

Gary Goren

Buyer

$25.7M

vol

8 deals

Buyer

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.23%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93