Living above a storefront has its advantages—you can wake up and stroll downstairs to your closest coffee shop, or you could even make a quick stop for much-needed supplies.
Known as “vertical villages,” mixed-use developments combine two or more uses—typically residential and commercial—into one space. And many of these mixed-use communities feature restaurants, bars, and shops on the ground floor, with hundreds of apartments above.
In 2021, an impressive 43,700 apartments were built in mixed-use communities, compared to just 10,000 apartments in 2012, according to a report from from RentCafe.
Even big box stores are getting in on the mixed-use trend: In September, Los Angeles broke ground for a new Costco store which will feature 800 rental apartments above.
But there are downsides to living above a business.
“There are plenty of things to do right outside your doorstep,” says Doug Perry, a strategic financing advisor at HouseCashin. “That is also the worst thing about this type of property. When you want to have a quiet night at home, you are still right in the heart of activity.”
Perry also notes that if the…
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