MacArthur Park-Area Hotel | 960 Menlo Ave
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MacArthur Park-Area Hotel 960 Menlo Ave
96 Room Hotel Los Angeles, CA 90006 For Sale
Investment Highlights
- 96 room for business hotel
- Option to change to luxury senior condominum
- Olympic and Vermont - Ongoing development projects
- Near Downtown Convention Center
- Fully entitled RTI available
Executive Summary
Attention Developers and Investors! This incredible opportunity in the heart of Koreatown offers a rare chance to own a fully entitled development site zoned R4-1 for a 96-room hotel.
Prime Location: Situated in one of Koreatown's most densely populated areas, this site is close to Downtown Los Angeles (DTLA) and offers excellent access to major attractions.
Fully Entitled: Save time and money with entitlements already in place for a 96-room hotel development.
Tier 3 TOC Density Bonus: Take advantage of additional development potential offered by the Tier 3 TOC density bonus program.
Thriving Neighborhood: The area is experiencing rapid gentrification with hundreds of new apartment units and condo projects underway, a surge in demand for hospitality options.
Excellent Amenities: Numerous commercial amenities and metro stations are within walking distance or a short bike ride, providing incredible convenience for future guests or residents.
Flexible Use: The R4-1 zoning allows for the potential conversion of the property into a luxury senior condo complex, catering to a growing market segment.
Vacant Property: The existing residential building will be delivered vacant at the close of escrow, eliminating demolition delays.
Don't miss out on this chance to be part of Koreatown's exciting growth! This versatile property is perfect for developers seeking to build a thriving hotel or capitalize on the senior living market.
Contact Christina Hyon today at 213.700.7416 to learn more!
Prime Location: Situated in one of Koreatown's most densely populated areas, this site is close to Downtown Los Angeles (DTLA) and offers excellent access to major attractions.
Fully Entitled: Save time and money with entitlements already in place for a 96-room hotel development.
Tier 3 TOC Density Bonus: Take advantage of additional development potential offered by the Tier 3 TOC density bonus program.
Thriving Neighborhood: The area is experiencing rapid gentrification with hundreds of new apartment units and condo projects underway, a surge in demand for hospitality options.
Excellent Amenities: Numerous commercial amenities and metro stations are within walking distance or a short bike ride, providing incredible convenience for future guests or residents.
Flexible Use: The R4-1 zoning allows for the potential conversion of the property into a luxury senior condo complex, catering to a growing market segment.
Vacant Property: The existing residential building will be delivered vacant at the close of escrow, eliminating demolition delays.
Don't miss out on this chance to be part of Koreatown's exciting growth! This versatile property is perfect for developers seeking to build a thriving hotel or capitalize on the senior living market.
Contact Christina Hyon today at 213.700.7416 to learn more!
Property Facts
| Sale Type | Investment | Building Size | 14,300 SF |
| Property Type | Hospitality | No. Rooms | 96 |
| Property Subtype | Hotel | Number of Floors | 6 |
| Building Class | B | Year Built | 2027 |
| Lot Size | 0.44 AC | Parking Ratio | 3.99/1,000 SF |
| Construction Status | Proposed | Corridor | Interior |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.44 AC |
| Construction Status | Proposed |
| Building Size | 14,300 SF |
| No. Rooms | 96 |
| Number of Floors | 6 |
| Year Built | 2027 |
| Parking Ratio | 3.99/1,000 SF |
| Corridor | Interior |
Amenities
- Balcony
- High Speed Internet Access
- Patio
- Public Access Wi-Fi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 96 | £122.45 | - |
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (74)
Bike Score ®
Very Bikeable (72)
zoning
| Zoning Code | R-3 (Multi-Family Residential Zone) |
| R-3 (Multi-Family Residential Zone) |
-
Lee Chan Kwon -
K.CHRISTINA HYON
-
David Hong -
Urban Real Estate Inc
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MacArthur Park-Area Hotel | 960 Menlo Ave
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