4680 Wilshire Blvd
Los Angeles, CA 90010

OFFERS DUE 5/15
Colliers presents the opportunity to acquire a fee-simple interest in The Hancock (the “Property” or “4680 Wilshire”), a 184,819-square-foot fully entitled, mixed-use, residential condominium project.
Nestled between the storied Fremont Place in Hancock Park and Brookside community, the 2.10-acre site is situated within one of the most prestigious and desirable neighborhoods in Los Angeles and is surrounded by iconic restaurants, shops, and entertainment venues. The mixed-use residential and office building will be delivered with fully approved redevelopment plans, allowing an investor to bypass the arduous entitlement process with the City and capitalize on the substantial residential demand in the market.
Renowned for its wealthy and highly educated demographic, with an average net worth exceeding $1 million within a mile of the Property, Hancock Park commands premium pricing for residential space. The neighborhood offers a refined lifestyle, featuring the prominent Wilshire Country Club and convenient access to The Grove, Los Angeles County Museum of Art, and various dining options in Larchmont Village that extend into the gastronomic haven of Koreatown. A residential condominium conversion, encompassing 65 units over 127,206 net square feet with a rooftop pool deck, is well-positioned to capture the sizeable interest from Angelenos who desire to call Hancock Park home.
Office inventory compression derived from other residential conversions in the Mid-Wilshire area continues to tighten the office market as supply is removed. Office rents have remained steady due to the supply constraints and tenants are migrating to superior buildings. Upon completion, the newly renovated, 58,330 net square foot office space will surely attract tenants from the older, Class B/C product in this market.
With seismic retrofit and redevelopment plans already approved, an investor has the opportunity to undertake a residential condominium redevelopment without entitlement risk that would garner considerable residential demand and renewed interest for the rejuvenated office space.