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… Read More 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. Read Less
Property listed by Keller Williams Beverly Hills, Daniel Shamooelian 310-432-6400
Listing Snapshot
Days Online
18
Last Updated
Property Type
SingleFamilyResidence
Beds
3
Full Baths
2
Square Ft.
1,718
Lot Size
0.17 Acres
Year Built
1922
MLS Number
26829703
Additional Details
Building
Built in 1922, Living area: 1718.0, Levels: One
Cooling
CentralAir
Fireplaces
None
Floors
Laminate
Heating
Central
Laundry
Outside
Lot
0.1703 acres, Dimensions: 50x120
Parking
DoorMulti, Driveway, Garage
Pool
None
Property
Other structures: GuestHouse
Taxes
Parcel Number: 5518018020, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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