940 S Hill St - Freestanding FOR SALE
Los Angeles, CA 90015 |
940 S Hill St
Los Angeles, CA 90015
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
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Olympic & Hill
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Storefront Retail/Residential, Supermarket, Medical
TOTAL BUILDING SIZE
24432
STORIES
1
YEAR BUILT
1971
SPRINKLERS
-
PARKING SPACES
83
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
5139-003-017
