Seller's Agent in 2021
Elijah Korobkin
Central Realty Advisors Inc
(323) 873-9332
2 in this area
11 Total Sales
240 3rd Ave Los Angeles, CA 90291
Venice Neighborhood
4
Beds
8
Baths
3,288
Sq Ft
6,190
Sq Ft Lot
About This Home
As of June 20217 of 8 units VACANT - 240 3rd Ave is a Value-Add 8-unit asset, conveniently located steps to the Ocean in prime Venice, right in the heart of Silicon Beach. Built in 1956, the two-story complex features a unit mix consisting of (4) One-Bed/One-Bath units and (4) Bachelor/One-Bath units. Per the Los Angeles Housing and Community Investment Department (HCIDLA), the four Bachelor units may be rented as flexible units. This allows a new owner the ability to have 4 to 8 rental units as either long term tenancy, 30-day rentals, co-living, etc. The building features (9) electrical meters, (5) gas meters, (8) parking spaces, and on-site laundry facilities. The complex attracts tenants looking to live within blocks of the beach (94 walk score & 100/100 bike score!), moments to two of the hippest corridors in the country, and a short drive to big tech and entertainment headquarters. The property presents a rare opportunity for investors to achieve a 6.30% cap rate upon full building stabilization.
Last Agent to Sell the Property
Central Realty Advisors Inc License #01897085 Listed on: 02/11/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1956
Lot Details
- 6,187 Sq Ft Lot
Parking
- 8 Parking Spaces
Interior Spaces
- 3,288 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 8 Bathrooms
Community Details
- 8 Units
Listing and Financial Details
- Assessor Parcel Number 4286-001-014
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/21/2021 06/21/21 | Sold | $2,600,000 | -5.5% | $791 / Sq Ft |
| 06/07/2021 06/07/21 | Pending | -- | -- | -- |
| 02/11/2021 02/11/21 | For Sale | $2,750,000 | -- | $836 / Sq Ft |
Source: The MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $33,416 | $2,759,140 | $2,069,355 | $689,785 |
| 2024 | $33,416 | $2,705,040 | $2,028,780 | $676,260 |
| 2023 | $32,776 | $2,652,000 | $1,989,000 | $663,000 |
| 2022 | $31,268 | $2,600,000 | $1,950,000 | $650,000 |
| 2021 | $22,193 | $1,812,004 | $1,359,005 | $452,999 |
| 2020 | $22,418 | $1,795,026 | $1,345,071 | $449,955 |
| 2019 | $21,541 | $1,759,862 | $1,318,698 | $441,164 |
| 2018 | $21,397 | $1,725,388 | $1,292,842 | $432,546 |
| 2016 | $20,432 | $1,656,854 | $1,242,641 | $414,213 |
| 2015 | $20,153 | $1,631,968 | $1,223,976 | $407,992 |
| 2014 | $20,300 | $1,600,000 | $1,200,000 | $400,000 |
Source: Public Records
Agents Affiliated with this Home
-
Elijah Korobkin
-
Shiva Mehrdad
Buyer's Agent in 2021
Shiva Mehrdad
Forward One
(310) 505-9560
1 in this area
39 Total Sales
Map
Source: The MLS
MLS Number: 21-692236
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