250 3rd Avenue, an eight-unit multifamily property situated in the heart of Venice, California one of the most coveted and supply-constrained coastal submarkets in Los Angeles. Thoughtfully redesigned by the acclaimed Teague Designs, the building embodies the refined, architecturally intentional aesthetic that defines modern Venice living, offering a rare… Read More convergence of design quality, location, and investment merit.The property offers four one-bedroom / one-bathroom units and four studio units, each substantially upgraded with contemporary cabinetry, modern appliances, and finishes that reflect current market expectations. The unit mix is distinguished by a series of premium features seldom found in comparable product: two of the one-bedroom units boast very large private patios, two top-floor one-bedroom units showcase soaring open ceilings with exposed wood beams, and two studio units offer private balconies all of which extend the indoor-outdoor flow that Venice renters prize. A landscaped communal garden courtyard at the building's entrance provides a welcoming shared outdoor space, and six on-site parking spaces offer a meaningful advantage in a neighborhood where parking is consistently at a premium.Recent capital improvements reflect a comprehensive approach to asset stewardship, including replacement of most electrical systems, upgrades to the majority of lateral plumbing, and complete reconstruction of the building's balconies with new handrails approximately six years ago. On-site laundry serves residents; utilities are landlord-paid, with five electric meters and five gas meters on-site. The existing parking configuration additionally presents a viable ADU development opportunity, subject to applicable zoning approvals, offering a future owner a clear path to added income and asset densification. With its distinguished architectural character, premium unit features, and address within one of the Westside's most desirable lifestyle corridors, 250 3rd Avenue represents a compelling opportunity to acquire a differentiated, income-producing coastal asset with meaningful long-term upside. Please contact listing agents for a copy of the Offering Memorandum. Read Less
Property listed by Compass, John Swartz 310-259-7556
Listing Snapshot
Days Online
10
Last Updated
Beds
4
Square Ft.
3,288
Lot Size
0.15 Acres
Year Built
1956
MLS Number
26771865
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator
Building
Built in 1956, Living area: 3288.0, 1 building, Levels: Two
Heating
WallFurnace
Income
Gross Income: $246,931, Net Operating Income: $161,958
Interior Features
CeilingFans
Lot
0.1452 acres, Dimensions: 43x145
Parking
Uncovered
Taxes
Parcel Number: 4286001012, Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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