240 3rd Avenue Venice, CA
$ 2,750,000
Property Attributes
  • MLS#21692236
  • TypePending
  • 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:
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
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


  • 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

AVG $1.93M
AVG 23
Year Built
AVG 1953
AVG 88
Data Provided by Walkscore ® not using MLS data

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