Two matching cottage duplexes face Nowita Place; a standalone house faces Penmar Avenue. Three single-story buildings totaling approximately 4,015 square feet occupy roughly one-third of the site.
1140 NowitaPlace
Five Spanish-style residences in three buildings on a 12,406 sq ft corner lot at Nowita Place and Penmar Avenue — outside the Coastal Zone, on Venice's east-of-Lincoln grid.
OFFERED AT$3,499,990
The Property
By the Numbers
Verified figures5Residences in 3 one-story buildings
12,406 SFCorner lot — two contiguous lots, one parcel
4,015 SFBuilding area
1919–1930Year built
$13,324Scheduled monthly rent, all five residences
100%Occupied
About
The offeringA five-unit Spanish-style compound occupying the full corner of Nowita Place and Penmar Avenue, east of Lincoln and outside the Coastal Zone. Three one-story buildings, built between 1919 and 1930, total approximately 4,015 square feet on two contiguous lots held as a single 12,406-square-foot parcel.
Four one-bedroom, one-bath cottages front Nowita Place — 1140, 1140½, 1144 and 1144½ — arranged as two mirror-image buildings of two attached units each. Every cottage has its own private entrance reached by a garden path. Interiors carry the original Spanish detailing: arched openings between rooms, wood floors, built-in cabinetry, and in select units sculpted fireplace surrounds and vintage tile.
Kitchens have solid-surface countertops, bathrooms have been remodeled, and each unit includes in-unit laundry and its own patio or yard area. The fifth residence, a three-bedroom, two-bath house addressed at 1935 Penmar Avenue, faces Penmar with its own entrance, a long private driveway and a rear patio — the independence of a standalone home within the compound.
Buildings cover about a third of the land; the balance is garden and yard, with planted walkways connecting the cottage doors and an on-site parking area with six or more spaces. The property sits on Venice's canal-era grid, a short distance from Abbot Kinney Boulevard, Rose Avenue, Penmar Golf Course and the beach — an established residential pocket that rarely trades.
The Residences
1140 Nowita Pl1 bd / 1 baOccupied$1,983.01
1140½ Nowita Pl1 bd / 1 baOccupied$1,623.17
1144 Nowita Pl1 bd / 1 baOccupied$2,545.00
1144½ Nowita Pl1 bd / 1 baOccupied$2,672.85
1935 Penmar Ave house3 bd / 2 baOccupied$4,500.00
All five units are subject to the Los Angeles Rent Stabilization Ordinance. Full operating statements, leases, and the appraisal are available from the broker to qualified parties.
The Site
& its context
APN4242-009-012
LegalLots 41 & 42, Tract 2534 — two contiguous lots, one parcel
Lot area12,406 sq ft combined (0.285 acres)
Frontage134.5′ Nowita Pl · 134.1′ Penmar Ave · no alley
Zoning[Q]RD3-1XL (City of Los Angeles)
CoastalOutside the California Coastal Zone
IncentivesTransit Oriented Incentive Area, Tier 2
Tenancy5 units, Los Angeles Rent Stabilization Ordinance
ParkingOn-site parking area, 6+ spaces
Corner parcel with two full street frontages, outside the Coastal Zone. RD3 multiple-dwelling zoning and a mapped Tier 2 Transit Oriented Incentive Area designation. Supporting records accompany the diligence package.
The Neighborhood, Mapped
The property sits on Venice's east-of-Lincoln grid, beside Penmar Golf Course and between the beach and the Westside's employment centers.
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Entertainment & lifestyle
- Penmar Golf Course adjacent
- Superba Food + Bread ≈ 0.5 mi
- Erewhon & Whole Foods ≈ 0.6 mi
- Rose Avenue dining corridor ≈ 0.7 mi
- Gjusta ≈ 1.0 mi
- Abbot Kinney Boulevard ≈ 1.0 mi
- Gold's Gym Venice ≈ 1.2 mi
- The Venice Sign ≈ 1.2 mi
- Venice Canals ≈ 1.3 mi
- Venice Beach, Muscle Beach & Skatepark ≈ 1.5 mi
- Downtown Santa Monica & Pier ≈ 2.5 mi
Employment centers
- Google — Binoculars Building, Venice ≈ 1.2 mi
- Snap Inc. HQ, Santa Monica ≈ 3 mi
- Google, YouTube & Meta, Playa Vista ≈ 3.5 mi
- Silicon Beach / Marina del Rey ≈ 2–4 mi
- Sony Pictures & Amazon Studios, Culver City ≈ 5 mi
- LAX ≈ 7 mi
Financing
Three directionsAt the $3,499,990 asking price:
| Financing scenario | Loan amount | Down payment |
|---|---|---|
| 80% of purchase price | $2,799,992 | $699,998 |
| 75% of purchase price | $2,624,992.50 | $874,997.50 |
| 70% of purchase price | $2,449,993 | $1,049,997 |
Cash to close: Down payment, closing costs, prepaid expenses, and required reserves.
For buyers holding the property as a rental investment. Compare fixed-rate terms, 30-year amortization, and available interest-only periods. Loan sizing centers on rental income, operating expenses, and debt coverage.
For self-employed buyers and investors whose tax returns do not reflect their purchasing capacity. Ask about small-balance commercial programs that emphasize property cash flow, liquidity, and assets. For a five-unit property, request multifamily financing rather than a standard one-to-four-unit non-QM loan.
For acquisitions involving renovation, vacancy, or a shorter closing timeline. Explore acquisition and improvement funding, interest-only payments, and an exit into permanent financing after the property’s income stabilizes.
Contact
Christian Aragon · DRE 01930233Call Christian for the details, the diligence package, or a private tour.
BrokerChristian Aragon
Phone818.384.1212
Emailelefidata@gmail.com
Mailing address22287 Mulholland Hwy #307,
Calabasas, CA 91302
Calabasas, CA 91302
LicenseDRE 01930233
The offering1140–1144 Nowita Place &
1935 Penmar Ave, Venice, CA 90291
Offered at $3,499,990
1935 Penmar Ave, Venice, CA 90291
Offered at $3,499,990