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
Courtesy of Keller Williams Beverly Hills 310-432-6400
Listing Snapshot
Days Online
37
Last Updated
Property Type
Single Family Residence
Beds
3
Full Baths
2
Square Ft.
1,718
Lot Size
0.17 Acres
Year Built
1922
MLS Number
26829703
30 Days Snapshot Of 90004
$2.31M
+19%
(avg) sold price
5
-37%
homes sold
125
+30%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
"Other"
Building
1,718 sq ft, Built in 1922, Levels: "One Level", "Detached/No Common Walls", "Country English"
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