1220-1240 Hope StLos Angeles, CA 90015

Property Details for 1220-1240 Hope St

Lot size

0.97 AC

Property type

Land

Description

This 0.97-acre commercial land parcel, located at 1220-1240 S Hope St, Los Angeles, CA 90015 (APN 5139-022-003, -004, -020, & -021), presents a unique development opportunity in the heart of Downtown Los Angeles' South Park neighborhood. Zoned R5-4D-O, this property boasts a high-density designation allowing for a wide range of uses, including multifamily residential development. Situated within the Greater Downtown Housing Incentive Area, it permits unlimited height and density, governed by a 6:1 FAR (floor area ratio), potentially increasing to 13:1 with incentives. Preliminary plans for an 8-story, 565-unit multifamily project already exist. The site benefits from its proximity to major entertainment venues like Crypto.com Arena and the LA Convention Center, making it ideally positioned to capitalize on the anticipated influx of visitors for the 2028 Summer Olympics. Its location offers excellent access to regional transportation networks, including major freeways, and is conveniently close to both Hollywood Burbank Airport and LAX. While some existing structures are present, they are vacant and the property is unencumbered, offering developers a clean slate for their vision. This prime urban infill location provides high visibility and significant development potential. Buyers are responsible for verifying all zoning information.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0401

Longitude

-118.265

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