602 Westlake AveLos Angeles, CA 90057

  • Mixed-use properties
  • 1,344 SF
For Lease
$54/SF/YR View listing

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
Mixed-use properties
Property subtype
Other investment properties
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
602 Westlake Ave, Los Angeles, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$145,245
$6,325,980
$5,780,000
$12,105,980
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FAQs

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