240 3rd Avenue, Venice, CA 90291

Local realty services provided by:Better Homes and Gardens Real Estate Oak Valley
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:30 day(s) ago
  • Updated:January 25, 2026 at 02:34 PM

Rooms and interior

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

Heating and cooling

  • Heating:Wall Furnace

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
Based on information from California Regional Multiple Listing Service, Inc. as of February 9, 2026 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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