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940 S Hill St
Los Angeles, CA 90015 South Park

Price Upon Request

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
  • Tenancy Single
  • Zoning [HM2-CHC1-5] [CX2-FA]
100 Transit Score
94 Walk Score

Highlights

$511 PER LAND SF! Incredible redevelopment opportunity in the center of Downtown Los Angeles
13.0 BONUS F.A.R.! New Zoning Code went into effect January 27th that allows for high-rise development with mixed commercial & residential uses
$29,620 PER UNIT LAND COST — Build up to 606 units (assumes 80% efficiency and an average unit size of 600 SF
PERMITTED USES with zoning include: high-density residential, supermarket, hospital, school, civic center, entertainment venue, medical office, etc.
RETAIL REDEVELOPMENT MODEL for 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, the NWC of Olympic & Broadway, for a total land footprint of 55,749 SF

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