Skip to main content

Multifamily

239 3rd Ave

239 3rd Ave, Venice, CA 90291

Listing Price: $2,280,000

Cap Rate
2.62%
Number of Units
4
Price/Unit
$570,000
Price/Gross SF
$670.98
Gross SF
3,398

Investment Overview

Marcus & Millichap is pleased to present to market 239 3rd Avenue, a well-maintained fourplex on a large 6,435-square foot lot in Venice, California. This exclusive offering presents an excellent opportunity for an investor to acquire an asset with with over 46 percent rental upside in a sought-after coastal market within walking distance of the beach, world-class dining, shopping, and entertainment, and proximate to Silicon Beach tech employers such as the Google campus located just across the street. The property’s proximity to a wide array of retail and services have earned it a noteworthy WalkScore of 93. 239 3rd Avenue is a 1953 construction with two two-bedroom/one-bath and two one-bedroom/one-bath units, all of which feature in-unit laundry and are separately metered for gas and electricity. The property also offers two two-car garages. One of the units will be delivered vacant, offering a new investor the chance to lease the unit at market rate. Additionally, an astute investor may want to explore ADU development potential.

Investment Highlights

  • Desirable Venice Fourplex With Over 46 Percent Potential Upside in Rents
  • Excellent Location Walkable to the Beach, the Venice Boardwalk, World-Class Dining and Entertainment, and Across the Street From Google's Venice Campus | WalkScore: 93
  • Property Has Two Two-Bedroom and Two One-Bedroom Units, In-Unit Laundry, and Two Two-Car Garages
  • One Unit Will Be Delivered Vacant
  • 6,435-Square Foot Lot
  • Priced Well-Below Comparable Sales on Both a Per Unit and Per Square Foot Basis

Exclusively Listed By

Listing Price: $2,280,000

Cap Rate
2.62%
Number of Units
4
Price/Unit
$570,000
Price/Gross SF
$670.98
Gross SF
3,398

Investment Highlights

  • Desirable Venice Fourplex With Over 46 Percent Potential Upside in Rents
  • Excellent Location Walkable to the Beach, the Venice Boardwalk, World-Class Dining and Entertainment, and Across the Street From Google's Venice Campus | WalkScore: 93
  • Property Has Two Two-Bedroom and Two One-Bedroom Units, In-Unit Laundry, and Two Two-Car Garages
  • One Unit Will Be Delivered Vacant
  • 6,435-Square Foot Lot
  • Priced Well-Below Comparable Sales on Both a Per Unit and Per Square Foot Basis

Investment Overview

Marcus & Millichap is pleased to present to market 239 3rd Avenue, a well-maintained fourplex on a large 6,435-square foot lot in Venice, California. This exclusive offering presents an excellent opportunity for an investor to acquire an asset with with over 46 percent rental upside in a sought-after coastal market within walking distance of the beach, world-class dining, shopping, and entertainment, and proximate to Silicon Beach tech employers such as the Google campus located just across the street. The property’s proximity to a wide array of retail and services have earned it a noteworthy WalkScore of 93. 239 3rd Avenue is a 1953 construction with two two-bedroom/one-bath and two one-bedroom/one-bath units, all of which feature in-unit laundry and are separately metered for gas and electricity. The property also offers two two-car garages. One of the units will be delivered vacant, offering a new investor the chance to lease the unit at market rate. Additionally, an astute investor may want to explore ADU development potential.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower