Name: Melissa Menard Homes
Address: 11601 Wilshire Blvd, Suite 101, Los Angeles, CA, 90025
Telephone: (310) 729-9726

240 3rd Ave Venice, CA 90291 New

UPDATED: 01/09/2026 07:46 PM ON MARKET: 1 days on market

$2,600,000

4 Beds8 Baths3,288 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,288 sqft

Price per Sqft $790

MLS Listing ID 26635601

Bedrooms 4

Year Built 1956

Lot Size 6,190 Sqft

Acres 0.1421

Property Sub-Type Multi-Family

Location

State CA

County Los Angeles

Area Venice

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Air Conditioning

Equipment Range/Oven, Freezer, Garbage Disposal

Laundry Community

Exterior

Parking Features Driveway

Garage Spaces 8.0

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Notice Of Default

Property Description

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.

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Infringement Reporting Procedure. To report copyright infringement, please email (preferred), fax, or mail all of the below required information, in written English, to Melissa Menard Homes (our contact information follows):

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Copyright Agent Contact. Melissa Menard Homes's Copyright Agent contact information is as follows. Email is our preferred method of communication.

Melissa Menard Homes, Inc.

Attention: Melissa Menard Homes DMCA/Copyright Designated Agent

(310) 729-9726

melissa@melissamenardhomes.com

Take-Down Procedure. Upon receipt and verification of notice of infringement, Melissa Menard Homes will remove the infringing materials, at its sole discretion. To the extent possible, Melissa Menard Homes will notify the infringing party in writing after removal. Advance notice of removal is generally not possible.

Termination for Repeat Infringement. Melissa Menard Homes reserves the right to terminate access, for any or all of our Software and Services, to any Party, if that Party is found to be repeatedly infringing copyrights.

Last updated: 1/10/2026

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