508 S Wilton Place, Los Angeles, CA

Exceptional development opportunity! Prime location adjacent to Hancock Park!!! This property is ideal for substantial development, featuring R3-2 zoning which offers a generous Floor Area Ratio (FAR) of 6 and allows for building heights of up to 75 ft / 6+ stories by-right far more accommodating than the restrictive R3-1 zoning. It's also perfect for affordable housing projects, as it is part of Los Angeles's Adaptive Reuse Program and primarily valued for its land. Additionally, this site is eligible for Executive Directive 1 (ED1) and falls within both the Citywide Housing Incentive Program area and Tier 3 of the TOC program, significantly enhancing its development potential. The details provided are intended as a preliminary guide for comprehensive due diligence. Buyers and their representatives are advised to independently verify all particulars, including dimensions, estimates, fees, costs, and projections through their investigations and expert consultations. While agents strive to provide accurate information, no guarantees or warranties are made regarding its accuracy. All parties are encouraged to conduct their own detailed investigations. Schedule a Private Showing