935-937 N Hill St 6,950 SF Vacant Retail Building Los Angeles, CA 90012 $3,250,000 ($467.63/SF)

The property at 935-937 North Hill Street represents a value-add mixed-use investment opportunity situated in the heart of Los Angeles' historic Chinatown district. This commercial building encompasses 6,950 square feet of building area on a 2,880 square foot lot, offering an efficient use of land in one of the city's most culturally vibrant and rapidly evolving neighborhoods. Originally constructed in 1946 and substantially renovated in 2024, the property features a versatile configuration with basement storage area, ground-floor retail space currently available for lease, and second-floor residential space that is occupied.
Located directly across from Chinatown Central Plaza with 70 feet of frontage on North Hill Street, the property benefits from exceptional visibility and consistent pedestrian traffic generated by the neighborhood's reputation as both a dining and cultural destination. Critically, an approved 8-story, 455-unit mixed-use development immediately adjacent to the property—including 10,000 SF of retail and 7,700 SF of medical office space—will dramatically increase foot traffic, resident density, and consumer demand upon completion. The immediate area has experienced significant demographic transformation over the past decade, attracting a younger, more affluent population drawn to Chinatown's unique blend of authentic Asian businesses and emerging arts scene. The property’s position just two blocks from the Harbor (110) Freeway and approximately one mile from Dodger Stadium provides superior regional accessibility while maintaining the walkable, neighborhood-oriented character that makes Chinatown increasingly attractive to both businesses and consumers.
The building's recent 2024 renovation addressed major building systems including mechanical, plumbing, and electrical infrastructure, significantly reducing the near-term capital improvement burden typically associated with properties of this vintage. The vacant ground-floor retail space presents immediate upside potential for a buyer to select their ideal tenant or capture increased rental income by leasing to businesses serving Chinatown's growing dining, retail, and entertainment corridor. The property is zoned LAC4-2 with four on-site parking spaces, offering flexibility for continued mixed-use operations that can serve diverse tenant needs from street-level retail capturing high foot traffic to upper-level creative office space.