602 Westlake AveLos Angeles, CA 90057
- Mixed-use properties
- 1,344 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
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- How can I contact the broker?
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