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940 S Hill St
Los Angeles, CA 90015

$17,950,000 USD

Freestanding For Sale  •  24,432 SF

Property Details

  • Property Type Freestanding
  • Total Building Size 24,432 SF
  • Lot Size 0.81 AC
  • Building Class B
  • Year Built 1971
  • Zoning [HM2-CHC1-5] [CX2-FA]
100 Transit Score
95 Walk Score

Highlights

$511 per land SF! Incredible redevelopment opportunity in the center of Downtown Los Angeles
Bonus FAR of 13.0! New Zoning Code going into effect January 27, 2025 allows for high-rise development with mixed commercial & residential uses
High-rise development scenario — Build up to 445 residential units (assuming 75% efficiency and 800 SF per unit) = $40,337 land cost per unit
Commercial redevelopment scenario — Permitted uses with new zoning include: supermarket, hospital, school, civic center, entertainment venue, etc.
Example model for retail build-to-suit achieves 6.39% YOC and ~30% Levered IRR in 24 months with $200 PSF construction budget
Assemblage Potential — Can be purchased with adjacent lot for a total land footprint of 55,749 SF

Property Flyers

Amenities

  • Bus Line
  • Signalized Intersection

Public Transportation

Commuter RailDriveWalkDistance
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak) 4 min - 1.8 mi
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 6 min - 2.0 mi
Transit/SubwayDriveWalkDistance
Pico Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro), Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 13 min 0.7 mi
7Th Street/Metro Center Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro), Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro), Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 13 min 0.7 mi
Pershing Square Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 14 min 0.7 mi
Grand Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 19 min 1.0 mi
AirportDriveWalkDistance
Los Angeles International 25 min - 14.6 mi
Bob Hope 26 min - 18.1 mi
Long Beach (Daugherty Field) 31 min - 22.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 83
Type: Surface
Included in Rent: Yes
Joe Bolognese 310-422-3891 Saxum West
Joe Bolognese 310-422-3891 Saxum West