Est. cap rate

3.6%

Assumed rent, all units

$13,960/mo

Units

4

Price per unit

$587,500

Est. annual NOI

$83,760

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

3,374 sqft

Lot size

6,422 sqft

Year built

1953

Stories

2

Garage spaces

4

Cooling

Central Air,Wall/Window Unit(s)

Pool

None

Status

Active

Days on market

48

MLS #

246425015

About this property

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. .

Location

240 Hampton Drive

Venice, Los Angeles, CA, 90291