
Venice, California 90291
This Quadruplex Residential Income property presents a Prime Investment Opportunity with a List Price of $2,350,000—positioned well below the $2,401,984 Fair Market Value by 2%. This valuation gap offers $51,984 in Instant Equity. Featuring a Condition Rating of 3, the property includes modern HVAC and updated interiors. With an oversized 6,422-square-foot lot and a detached garage flex space, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking to leverage rental income in a premier coastal location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 240 Hampton Drive Subject | $2,350,000* List Price | 0 | 0 | 3,374 | $712 | - |
A 502 Westminster Sold | $1,950,000 | 8 | 4 | 2,728 | $715 | 0.6 mi |
B 616 Sunset Active | $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.
While originally built in 1953, the property shows clear evidence of significant updates within the 5-15 year range. The interiors feature modern laminate and hardwood flooring, updated mini-split HVAC systems in multiple rooms, and refreshed kitchen areas with contemporary tiling. The units appear well-maintained, functional, and move-in ready for high-end rental use.
Situated in the heart of Venice Beach, the property is steps away from the Boardwalk, Abbot Kinney, and Rose Avenue, ensuring high tenant demand and long-term appreciation in a world-class destination.
With a two-bedroom unit and the garage flex space deliverable vacant at close, the property qualifies for owner-occupied financing, allowing a buyer to live on-site while offsetting the mortgage with rental income.
The 6,422-square-foot lot is significantly larger than average for the area and includes a detached garage converted into an office/lounge, providing rare versatility for an investor or end-user.
Several units are currently rented below market value, which may limit immediate cash flow and initial capitalization rates for investors until units can be turned over or rents adjusted.
The detached garage is not a legal residential unit, which restricts its official use and may present challenges during appraisals or future permitting for a formal ADU conversion.
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 | 8.0 |
| Baths | 0.0 | 4.0 |
| Square foot | 3,374 | 2,552 |
| Lot Size | 6,422 | 4,061 |
| Price | $2.35M | $1.74M |
| Price per sq ft | $697 | $750 |
| Built year | 1953 | 1942 |
| HOA | $0 | $0 |
| Days on market | 14 | 243 |
Aug 26, 2026
$2,350,000
Initial Listing
Nov 12, 2003
$860,000
Public Record