602 Westlake AveLos Angeles, CA 90057

Property Details for 602 Westlake Ave

Year built

1957

Lot size

0.29 AC

Property size (Sq ft)

1,344 SF

Zone code

LAC2

Property type

Investment properties

Property subtype

Live-work space

APN

5142-001-031

APU

5142001031

Description

The Edge, a brand-new mixed-use development in Los Angeles, CA (90057), offers an exceptional opportunity for retail tenants. Located at 602 S Westlake Ave, this 84,000 square foot building boasts 65 total suites, including 63 residential units and 5 street-level retail spaces ranging from 693 to 1,530 square feet. Completed in 2024, the property features modern amenities including elevators. The building benefits from a high-traffic location, with a vehicle traffic count exceeding 25,000 vehicles per day within a short distance (1.2-1.4 miles) of two Metro stations, ensuring significant foot traffic and visibility for retail businesses. The retail space is already subdivided, making it move-in ready. For qualified tenants, the owner is offering tenant improvement (TI) dollars and rent abatement, making this an attractive proposition. This is an ideal location for national and local businesses seeking a vibrant and accessible downtown Los Angeles location within a thriving mixed-use environment. The property's strategic location and the owner's incentives create a compelling opportunity for growth and success. Contact us today to learn more about leasing options and secure your space in this dynamic development.

• CAP approach

  CAP return

  Valuation

  6%

  $396,422

  6.5%

  $365,928

  7%

  $339,791

• Comparable approach

  Method

  Valuation

  Relative Method

  $255,575

  Geo Method

  $255,575

• Alternative Use

  Use

  Valuation

  Residential

  $453,751

  Hospitality

  $415,634

  Educational

  $345,802

  Medical

  $357,695

  Retail

  $537,915

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0587

Longitude

-118.273

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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