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$2,600,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 4 Total Beds
  • Updated 6 days ago
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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 retail. Nearby favorites include Gjelina, Felix Trattoria, Great White, and The Butcher's Daughter, making this an exceptionally desirable rental location in one of Los Angeles' most iconic coastal neighborhoods.

Full Property Details for 240 3rd Ave

General

  • Price: $2,600,000
  • HOA FEE: $6,000
  • Status: Active
  • Type: Multi-Family
  • Source: CLAW
  • MLS ID: 26635601
  • Updated: 1/9/2026
  • Added to Site: 7 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 8

Bedrooms

  • Total Bedrooms: 4

Other Rooms

  • Laundry: Community

Additional Information

  • Other Features: None

Parking

  • Garage Description: Driveway

Location

  • Area: Venice
  • County: Los Angeles
  • Driving Directions: Rose and 3rd Ave.

Heating & Cooling

  • Cooling Type: Air Conditioning
  • Heating Type: Wall

Utilities

  • Trash: 4800

Structural Information

  • # Buildings: 1
  • Stories/Levels: 2
  • Square Feet: 3,288
  • Sq. Ft. Source: Vendor Enhanced
  • Year Built: 1956
  • Year Built Source: Vendor Enhanced

Unit Information

  • Units in Complex: 8
  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113

Unit 1

  • Total Bathrooms: 1

Unit 2

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 3

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 4

  • Total Bathrooms: 1

Unit 5

  • Total Bathrooms: 1

Unit 6

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 7

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 8

  • Total Bathrooms: 1

Additional Structures

  • Other Structures: None

Lot Features

  • Lot Size (Acres): 0.1421
  • Lot Size: 6190
  • Lot Size Source: Vendor Enhanced
  • Zoning: LARD1.5

Financial Considerations

  • Price Per Sq. Ft.: $790.75
  • Maint. Fee: $6,000
  • Insurance Fee: $7,398
  • Assessment Year: 1956
  • Tenant Pays: Electricity, Gas
  • Pays Trash: 4800

Disclosures and Reports

  • Disclosures/Reports: None
  • APN: 4286-001-014

Listed by Lyon Stahl Investment Real Estate, Inc., Shaya Lowenstein and Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson

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Listing agents

— 240 3rd Ave —

  • Shaya Lowenstein

    Lyon Stahl Investment Real Estate, Inc.

  • Aaron Jacobson

    Lyon Stahl Investment Real Estate, Inc.

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 240 3rd Ave

School District:Los Angeles Unified School District
NameGradesDistance
Westminster Avenue Elementary School
1010 Abbott Kinney Blvd., Los Angeles, CA 90291
K-50.5 mi
Mark Twain Middle School and World Languages Magnet
2224 Walgrove Avenue, Los Angeles, CA 90066
6-81.8 mi
Venice Senior High School
13000 Venice Boulevard, Los Angeles, CA 90066
9-121.8 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 240 3rd Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/09/2026
Listed
$2,600,000
—
MLS
6/16/2021
Sold
$2,600,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 240 3rd Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$33,757
102%
$2,760,740
2%
2024
$16,699
-49%
$2,706,640
2%
2023
$32,776
5%
$2,653,600
2%
2022
$31,268
41%
$2,601,600
43%
2021
$22,193
-1%
$1,813,604
1%
2020
$22,418
4%
$1,795,026
2%
2019
$21,541
1%
$1,758,262
2%
2018
$21,397
2%
$1,723,788
2%
2017
$20,896
2%
$1,689,990
2%
2016
$20,432
1%
$1,656,854
2%
2015
$20,153
-1%
$1,631,968
2%
2014
$20,300
81%
$1,600,000
87%
2013
$11,233
—
$853,384
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 240 3rd Ave

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Lyon Stahl Investment Real Estate, Inc., Shaya Lowenstein and Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson

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240 3rd Ave, Venice, CA 90291 (MLS# 26635601) is a Multi-Family property with units containing 4 bedrooms and 0 full bathrooms. 240 3rd Ave is currently listed for $2,600,000 and was received on January 09, 2026. Want to learn more about 240 3rd Ave? Do you have questions about finding other Multi-Family real estate for sale in Los Angeles Southwest? You can browse all Los Angeles Southwest real estate or contact a Coldwell Banker agent to request more information.

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