240 3rd Avenue, Venice, CA 90291

Local realty services provided by:ERA Carlile Realty Group
240 3rd Avenue,Venice, CA 90291
$2,600,000
  • 4 Beds
  • 8 Baths
  • 3,288 sq. ft.
  • Multi-family
  • Active
Listed by: shaya lowenstein, aaron jacobson
Office: lyon stahl investment real estate, inc.
MLS#:26635601
Source:CRMLS

Price summary

  • Price:$2,600,000
  • Price per sq. ft.:$790.75

About this home

240 3rd Ave is a high cash flowing 8-unit apartment building located in one of Venice's most desirable pockets. The property is fully parked with eight uncovered parking spaces and is aggressively priced at an 11.47 GIM with a 5.75% Cap Rate, representing the best combination of Cap Rate, GIM, and Price per Unit to trade in the neighborhood in recent years. The property also offers the ability to add multiple ADUs, providing meaningful long-term upside for a future owner, with buyers to verify feasibility. Priced at $325,000 per unit, 240 3rd Ave stabilizes north of a7.00% Cap Rate and under a 10 GRM. With the addition of four ADUs, inclusive of construction costs, the property is projected to operate at an 8.76% Cap Rate, an exceptional return profile for a core Venice asset. The property is ideally located just minutes from Abbot Kinney, Rose Avenue, and the Venice Beach Boardwalk, offering tenants immediate access to some of the area's most sought-after restaurants, cafes, and

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Home facts

  • Year built:1956
  • Listing ID #:26635601
  • Added:1 day(s) ago
  • Updated:January 10, 2026 at 01:10 PM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:8
  • Living area:3,288 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Year built:1956
  • Building area:3,288 sq. ft.
  • Lot area:0.14 Acres

Finances and disclosures

  • Price:$2,600,000
  • Price per sq. ft.:$790.75
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