Address
240 3rd Avenue Venice, CA
Price
$ 2,750,000
Property Attributes
  • MLS#21692236
  • TypePending
  • CountyLOS ANGELES
  • CityVenice
  • AreaVenice
  • Zip90291
  • Style
  • Price$ 2,750,000
  • Bedrooms4
  • Full Bathrooms8
  • Half Bathrooms0
  • Lot Size6,187 SqFt
Listing Provided Courtesy Of:
Elijah Korobkin with Central Realty Advisors Inc.
Data Source:
CRMLS
Property Description

7 of 8 units VACANT - 240 3rd Ave is a Value-Add 8-unit asset, conveniently located steps to the Ocean in prime Venice, right in the heart of Silicon Beach. Built in 1956, the two-story complex features a unit mix consisting of (4) One-Bed/One-Bath units and (4) Bachelor/One-Bath units. Per the Los Angeles Housing and Community Investment Department (HCIDLA), the four Bachelor units may be rented as flexible units. This allows a new owner the ability to have 4 to 8 rental units as either long term tenancy, 30-day rentals, co-living, etc. The building features (9) electrical meters, (5) gas meters, (8) parking spaces, and on-site laundry facilities. The complex attracts tenants looking to live within blocks of the beach (94 walk score & 100/100 bike score!), moments to two of the hippest corridors in the country, and a short drive to big tech and entertainment headquarters. The property presents a rare opportunity for investors to achieve a 6.30% cap rate upon full building stabilization.

Price History
2/13/2021 Listed $2,750,000

General Features

Listing Agent Elijah Korobkin - BRE#01897085
Listing Agent State License 01897085
MLS Area C11 - Venice
Property Type Residential Income
Special Listing Conditions Standard
Total Units 8
Virtual Tour https://www.hshprodmls3.com/2403rdave
Zoning LARD1.5

Exterior Features

Lot Size Acres 0.14
Lot Size Area 6187
Lot Size Source Other
Lot Size Square Feet 6187
Lot Size Units Square Feet
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 90291

Price
AVG $1.93M
$2.75M
Visits
AVG 23
60
Year Built
AVG 1953
1956
Walkscore
AVG 88
94
Data Provided by Walkscore ® not using MLS data

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