1426 Main St Los Angeles, CA 90291
- Mixed-use properties
- 6,587 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 1426 Main St
- Year built
- 1962
- Property size
- 6,587 SF
- Property type
- Mixed-use properties
- Property subtype
- Residential income homes
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.471
- Latitude
- 33.9889
