
Venice, California 90291
This Quadruplex Residential Income property is a High-Potential Investment Opportunity, listed at $2,350,000—positioned above the $1,960,912 Fair Market Value. While priced for the prime location, the property offers significant Value-Add Potential through rent optimization and the oversized 6,422-square-foot lot. Featuring a Condition Rating of 3, the units are move-in ready with modern HVAC and updated kitchens. The ability to deliver a unit vacant makes this an ideal House Hack for Buy-and-Hold Investors or Owner-Occupants seeking a coastal asset in a high-demand rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 240 Hampton Drive Subject 0 bd · 0 ba · 3,374 sqft · $581 | $2,350,000* List Price | 0 | 0 | 3,374 | $581 | - |
A 1034 Pleasantview Sold 0 bd · 0 ba · 3,720 sqft · $517 · 0.8 mi | $1,925,000 | 0 | 0 | 3,720 | $517 | 0.8 mi |
B 1034 Pleasantview Sold 9 bd · 6 ba · 3,720 sqft · $517 · 0.8 mi | $1,925,000 | 9 | 6 | 3,720 | $517 | 0.8 mi |
C 502 Westminster Sold 8 bd · 4 ba · 2,728 sqft · $715 · 0.6 mi | $1,950,000 | 8 | 4 | 2,728 | $715 | 0.6 mi |
D 616 Sunset Active 8 bd · 4 ba · 3,224 sqft · $884 · 0.4 mi | $2,850,000 List Price | 8 | 4 | 3,224 | $884 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1953, the property has been well-maintained and renovated within the last 5-15 years. Interiors feature updated kitchens with stainless steel appliances, modern mini-split HVAC systems in units, and a mix of hardwood and laminate flooring, making it move-in ready.
Situated at the border of Venice and Santa Monica, the property offers exceptional walkability to the beach, Rose Avenue, and Abbot Kinney, placing it in one of Los Angeles' most desirable and high-demand rental markets.
The ability to deliver a two-bedroom unit vacant at close makes this an ideal opportunity for owner-occupied financing, allowing a buyer to live on-site while offsetting their mortgage with rental income.
With an oversized 6,422-square-foot lot and several units currently leased at below-market rates, there is significant upside potential for an investor to increase the capitalization rate through strategic management and rent adjustments.
The detached garage flex space is explicitly noted as not being a legal residential unit, which limits its use for official rental income and may pose future zoning or compliance risks.
Built in 1953, the property may require ongoing maintenance or capital expenditures for system upgrades typical of older multi-family structures to remain competitive with newer luxury developments in the area.
Located at the border of Venice and Santa Monica, just moments from the beach, Venice Boardwalk, Main Street, and Rose Avenue, 240 Hampton Drive presents a rare multi-family opportunity on an oversized 6,422-square-foot lot. The property features 4 residential units within the main structure, along with a detached garage flex space (not a legal unit) with a bathroom and air conditioning. The main building comprises 2 two-bedroom units and 2 one-bedroom units, each offering air conditioning, individual laundry, generous storage, and bright, light-filled interiors. One of the two-bedroom units, currently serving as the owner’s unit, can be delivered vacant at close, creating an ideal opportunity for an investor or end-user looking to live on-site while benefiting from additional rental income. The detached garage flex space has been loosely converted into an office/lounge space and can also be delivered vacant at close. Ideally positioned just a few short blocks from the beach, the property offers convenient access to some of Venice’s most iconic destinations, including Gold’s Gym, Abbot Kinney, Rose Avenue, and the neighborhood’s shops and restaurants. Venice has also become a hub for health-conscious living, with boutique gyms, recovery and rejuvenation spas, and a growing biohacking and wellness tech scene, complementing nearby Silicon Beach's tech presence. With its prime location, versatile unit mix, and oversized lot, 240 Hampton Drive offers a compelling opportunity in one of Los Angeles’ most sought-after coastal communities. * RENT ROLL: Unit 1 (2BD): $3,500/mo | Unit 2 (2BD): $4,500-$5,000/mo projected rent — owner’s unit, can be delivered vacant at close | Unit 3 (1BD): $3,000/mo | Unit 4 (1BD): $2,700/mo | Garage Flex Space: Can be delivered vacant at close. Several of the rents are estimated to be under market. This is a legal Fourplex and should qualify for owner-occupied financing given 4 units and 1 of the units can be delivered vacant. .
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 7.1 |
| Baths | 0.0 | 4.6 |
| Square foot | 3,374 | 3,252.8 |
| Lot Size | 6,422 | 4,404.8 |
| Price | $2.35M | $1.81M |
| Price per sq ft | $697 | $663 |
| Built year | 1953 | 1969 |
| HOA | $0 | $0 |
| Days on market | 59 | 173 |
Aug 26, 2026
$2,350,000
Initial Listing
Nov 12, 2003
$860,000
Public Record