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$1,300,000
Est. payment /mo
3 Beds
2 Baths
1,718 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,718 sqft
Price per Sqft $756
MLS Listing ID CL26829703
Bedrooms 3
Full Baths 2
HOA Y/N No
Year Built 1922
Lot Size 7,420 Sqft
Acres 0.1703
Property Sub-Type Single Family Residence
Property Description
We are pleased to present for sale an exceptional development opportunity in the heart of Koreatown. Located at 241 N Catalina Street, this R3-1 zoned property offers significant potential for increased density. The 7,417 SF lot (approximately 50' x 148') allows for the development of up to 9 units by right, with the potential to build up to 21 units utilizing TOC incentives (buyer to verify). The property is improved with an existing single-family residence that will be delivered vacant at closing, with no tenant relocation or RSO requirements. Property is currently permitted and licensed for residential care / group living use, offering additional operational or income potential (buyer to verify). Situated within a Qualified Opportunity Zone, the property may offer additional tax advantages for investors (buyer to verify). The site may also be well-suited for a 100% affordable housing development opportunity under ED1 guidelines (buyer to verify). Centrally located just blocks from the Vermont/Beverly Metro station, the site offers excellent access to public transportation, as well as nearby retail, dining, and neighborhood amenities. Seller is open to flexible escrow terms, making this an ideal opportunity for developers seeking time to pursue entitlements.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Fireplace No
Laundry Other
Exterior
Pool None
View Y/N false
View None
Private Pool false
Building
Story 1
Level or Stories One Story
New Construction No
Others
Tax ID 5518018020
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Listed by Daniel Shamooelian • Keller Williams Beverly Hills
NEARBY SCHOOL & BUSINESS
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122