Live-Work Building with Creative
974 Chung King Rd, Los Angeles, CA 90012
For Sale
$1,400,000
Two-story live/work layout pairs a high-ceiling creative studio with a light-filled 4-bedroom residence above.
Property Size2,400 SF
Price / SF$583.33
Days on Market144
Property Features for 974 Chung King Rd
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Stories
Listing Agency:
Lee & Associates - Los Angeles - Downtown
Listed By:
Evan Jurgensen · License #CalDRE #01967347
(626) 786-7430
Source:
Lee-associates
Added: Jun 18
Changed: Nov 7
Last Checked: Nov 6 at 7:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Los Angeles - Downtown
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Investment Insights
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This two-story live/work property combines a ground-floor creative studio/retail space with an upstairs residential unit designed for flexible use. The open, high-ceiling ground floor is suited for gallery, showroom, studio, or boutique retail concepts and includes a bonus mezzanine loft overlooking the main space. A ground-floor kitchenette and bathroom support day-to-day operations. In addition to the main ground-floor area, an attached basement provides extra room for storage, production, workshop, office space, or creative expansion.
Set in Chinatown and surrounded by longstanding independent businesses, creative studios, and art galleries, the property benefits from a neighborhood built around cultural and artistic activity. Its configuration supports a connected experience between work and daily life while still allowing for independent operation.
Upstairs, the light-filled residential unit offers 4 bedrooms and 1.5 bathrooms. The second-floor home can operate with either a private entrance or connected access to the commercial space, creating a practical live/work setup for an entrepreneur, artist, or operator who wants the flexibility to separate or unify their work and residence.
Set in Chinatown and surrounded by longstanding independent businesses, creative studios, and art galleries, the property benefits from a neighborhood built around cultural and artistic activity. Its configuration supports a connected experience between work and daily life while still allowing for independent operation.
Upstairs, the light-filled residential unit offers 4 bedrooms and 1.5 bathrooms. The second-floor home can operate with either a private entrance or connected access to the commercial space, creating a practical live/work setup for an entrepreneur, artist, or operator who wants the flexibility to separate or unify their work and residence.
Key Highlights
- Two‑story live/work property built in 1950 with a creative studio on the ground floor and a residence above
- Ground‑floor creative studio/retail space with high ceilings plus an added bonus mezzanine loft overlooking the open studio
- Ground floor includes a kitchenette and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,967
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,139,340
$1.1M
Cap Rate 7%
$813,814
$813.8K
Cap Rate 9%
$632,967
$633.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$93.3K $38.88/SF
− Vacancy
−$17.4K −$7.23/SF
EGI
$76.0K $31.65/SF
− OpEx
−$19.0K −$7.91/SF
NOI
$57.0K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,139,340
Cap Rate 7%
$813,814
Cap Rate 9%
$632,967
Alternative Uses
Best Use
Office B
$813.8K
$712.1K – $949.5K
NOI $56,967 @ 7.0% cap · market cap 4.07%
Second Best
Mixed Use
$694.3K
$607.5K – $810.0K
NOI $48,600 @ 7.0% cap · market cap 3.47%
Theoretical Best
Multifamily LT 5
$48.62M
$42.54M – $56.73M
NOI $3,403,579 @ 7.0% cap · market cap 243.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,444
Businesses Nearby
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Business Placement
Demographics for 90012, CA
33,851
Population
16,541
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
77%
High-School Grad
3.6 sq mi
ZIP Area
9,403
Density / Sq Mi
$67,635
Median Household Income
$44,901
Median Earnings
$2,116
Median Rent
$686,400
Median Home Value
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Market
Average Price Trend$/SF for Live-work space in Los Angeles, CA
Properties on Market for Live-work space in Los Angeles
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Live-work space - Two-story live/work layout pairs a high-ceiling creative studio with a light-filled 4-bedroom residence above.
Where is this live-work space located?
The property is located at 974 Chung King Rd Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑story live/work property built in 1950 with a creative studio on the ground floor and a residence above; Ground‑floor creative studio/retail space with high ceilings plus an added bonus mezzanine loft overlooking the open studio; Ground floor includes a kitchenette and bathroom
