Two-Building Flex and
For Sale
Contact for pricing
2320 S Hill St, Los Angeles, CA 90007
Two-building complex with high-clear warehouse space, modern offices, and parking along Hill Street frontage.
Property Size11,154 SF
Price / SF$275
Days on Market146
Property Features for 2320 S Hill St
General Information
Standard status
Active
Size
11,154 SF
Property subtype
INDUSTRIAL
Additional Details
Road Access
Yes
Building Details
Buildings
2
Listing Agency:
Cushman & Wakefield
(213) 955-5100
Listed By:
Brandon Gill
(213) 629-6528
Source:
Moodyscre
Added: Apr 21
Changed: Sep 4
Last Checked: Sep 12 at 9:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield
Investment Insights
Based on property information with market context.
This two-building complex combines high-clear warehouse space with modern office areas, providing a flexible setup for an owner-user or income-focused ownership. The property includes parking to support day-to-day operations across both buildings.
With Hill Street frontage for an entire block, the site offers prominent presence along the street. The location also provides convenient access to freeways and connections throughout downtown Los Angeles.
Offered for sale as a 2-building package, the property’s mix of warehouse functionality and office space is well suited for businesses that need both production/storage and administrative space in the same location.
With Hill Street frontage for an entire block, the site offers prominent presence along the street. The location also provides convenient access to freeways and connections throughout downtown Los Angeles.
Offered for sale as a 2-building package, the property’s mix of warehouse functionality and office space is well suited for businesses that need both production/storage and administrative space in the same location.
Key Highlights
- Two‑building complex with high‑clear warehouse space and modern offices
- Hill Street frontage along an entire block
- Parking available on‑site for the two‑building complex
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$168,253
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,365,060
$3.4M
Cap Rate 7%
$2,403,614
$2.4M
Cap Rate 9%
$1,869,478
$1.9M
Market Conditions
NOI Build-Up for 11,154 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$211.5K $18.96/SF
− Vacancy
−$13.5K −$1.21/SF
EGI
$197.9K $17.75/SF
− OpEx
−$29.7K −$2.66/SF
NOI
$168.3K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,365,060
Cap Rate 7%
$2,403,614
Cap Rate 9%
$1,869,478
Alternative Uses
Best Use
Warehouse
$2.40M
$2.10M – $2.80M
NOI $168,253 @ 7.0% cap · market cap 5.49%
Second Best
Industrial
$1.98M
$1.73M – $2.31M
NOI $138,562 @ 7.0% cap · market cap 4.52%
Theoretical Best
Multifamily LT 5
$225.97M
$197.73M – $263.64M
NOI $15,818,134 @ 7.0% cap · market cap 515.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,535
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90007, CA
40,944
Population
14,153
Households
2.9
Avg Household Size
28
Median Age
29%
College-Educated
63%
High-School Grad
2.4 sq mi
ZIP Area
17,060
Density / Sq Mi
$36,032
Median Household Income
$21,176
Median Earnings
$1,480
Median Rent
$852,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Los Angeles, CA
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building complex with high-clear warehouse space, modern offices, and parking along Hill Street frontage.
Where is this flex space located?
The property is located at 2320 S Hill St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,067,350.
What are key features of this property?
This property features: Two‑building complex with high‑clear warehouse space and modern offices; Hill Street frontage along an entire block; Parking available on‑site for the two‑building complex
