4680 Wilshire Blvd, Los Angeles, CA 90010

The Hancock property, located at 4680 Wilshire, presents an opportunity to acquire a fee-simple interest in a 185,536 NRSF fully entitled, mixed-use, residential project with Ready-To-Issue (RTI) plans. Situated on a 2.10-acre site between Fremont Place in Hancock Park and the Brookside community, the property is located within a prestigious and desirable Los Angeles neighborhood, surrounded by restaurants, shops, and entertainment venues. The building will be delivered with fully-approved redevelopment plans, allowing an investor to bypass the entitlement process and capitalize on residential demand. The City’s new citywide Adaptive Reuse Ordinance (ARO) allows the project to be converted to 100% residential, either for sale or rent. Hancock Park is known for its wealthy and educated demographic, with an average net worth exceeding $1 million within a mile of the property, commanding premium pricing for residential space. The neighborhood offers a refined lifestyle, featuring the Wilshire Country Club and convenient access to The Grove, the Los Angeles County Museum of Art, and dining options in Larchmont Village and Koreatown. A residential conversion is well-positioned to capture interest from those who desire to live in Hancock Park. With seismic retrofit and redevelopment plans already approved and RTI plans, an investor can undertake a residential redevelopment without entitlement risk. The recently approved Los Angeles Citywide Adaptive Reuse Ordinance (ARO) provides investors with multiple residential re development options and the opportunity to revisit the existing entitlements in a by-right, ministerial process to convert the entitled office space to residential, potentially developing up to ~190 units.