1426 Main StLos Angeles, CA 90291

Property Details for 1426 Main St

Year built

1962

Property size (Sq ft)

6,587 SF

Property type

Investment properties

Property subtype

Other mixed-use properties

Description

Prime Venice Beach location at 1426 Main St, CA 90291, offers a compelling mixed-use investment opportunity. This 6,587 square foot, two-story building, constructed in 1962, boasts seven units currently operating at 86% occupancy, generating a NOI of $309,182 and a 6.34% cap rate. The property sits on a 6,438 square foot lot, with a land value of $757 per square foot. The asking price is $4,875,000, translating to $740.09 per square foot and $696,428.57 per unit. Eleven parking spaces are available. The property is zoned LAC2 and presents significant upside potential for future development. The building features a blend of office, commercial, and residential spaces, many with unique features including built-ins and renovations. One unit includes a spacious outdoor terrace with a built-in kitchen and BBQ area. This property is ideally suited for a 1031 exchange buyer or an investor seeking passive income, offering a strong return on investment in a highly desirable location blocks from Venice Beach. The property benefits from established tenancy, providing immediate rental income. This unique building combines residential and commercial spaces, catering to diverse needs. Its location near Windward Circle and within Venice's creative hub offers exceptional appeal.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9889

Longitude

-118.471

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