They are few and far between, but live/work properties are wonderful with virtually only upsides.
- You can legally operate a business out of them, with some restrictions of course (can't be a restaurant if it's not zoned for a restaurant).
- Tax benefits for sole proprietors, LLCs, etc (Ask your CPA about it!)
- Often converted or adapted re-use projects, making them more sustainable than other properties/buildings
- As an owner, you have the choice to live in, or work in, or BOTH in the property (some examples include graphic designers, attorneys, accountants, editors, fashion designers, artists, company showrooms, filming locations)
- As a landlord, you have a larger audience pool of renters, from people who want to live and/or work or both in the property
- As a seller, you can market to both residential and commercial buyers
- Unique communities in which there is an intersection of lifestyle and commerce in one place
- Oftentimes, values are higher in some of these live/work buildings due to their hybrid nature
- Ideal for hybrid work-from-home users
And while there are not too many of them, some areas have a higher concentration of them.
- DTLA has a large concentration of over 20 live/work zoned buildings.
- Hollywood has live/work buildings dotted around the neighborhood
- Culver City
- Pasadena
