940 S Hill St | Los Angeles, CA 90015
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- LoopNet Team
940 S Hill St
Los Angeles, CA 90015
Olympic & Hill · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- $511 PER LAND SF! Incredible redevelopment opportunity in the center of Downtown Los Angeles
- $29,620 PER UNIT LAND COST — Build up to 606 units (assumes 80% efficiency and an average unit size of 600 SF
- RETAIL REDEVELOPMENT MODEL for build-to-suit achieves 6.39% YOC and ~30% Levered IRR in 24 months with $200 PSF construction budget
- 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
- PERMITTED USES with zoning include: high-density residential, supermarket, hospital, school, civic center, entertainment venue, medical office, etc.
- ASSEMBLAGE POTENTIAL — Can be purchased with adjacent lot, the NWC of Olympic & Broadway, for a total land footprint of 55,749 SF
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
24,432 SF
Building Class
B
Year Built
1971
Tenancy
Single
Building Height
1 Story
Building FAR
0.70
Lot Size
0.81 AC
Zoning
[HM2-CHC1-5] [CX2-FA] - New zoning going into effect January 27, 2025. Mixed Commercial 2 - allows for commercial & high-density residential uses with a bonus FAR of 13.0
Parking
83 Spaces (3.4 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 5139-003-017 | Improvements Assessment | $12,869 |
| Land Assessment | $12,478,451 | Total Assessment | $12,491,320 |
PROPERTY TAXES
Parcel Number
5139-003-017
Land Assessment
$12,478,451
Improvements Assessment
$12,869
Total Assessment
$12,491,320
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