241 N Catalina Street, Los Angeles, CA 90004

$1,350,000 Approx. USD 3 beds, 2 baths
1,718 sqft

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Photo of Alex Woltman

Marketed By Alex Woltman REALTOR® - Broker Associate 661-713-4546 m
661-713-4546 o
Lic#: 01243035
NRDS ID: 207008991
Alex@WoltmanRealEstate.com Valencia Office
25060 Avenue Stanford, Suite 225
Santa Clarita, CA 91355
Phone: 661-702-0188

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Agent Remarks

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.

Listing Details

Property type: Single Family Residence (Single Family)

Status: Active

MLS# 26829703

Price: $1,350,000

Beds: 3

Baths: 2 (2 full)

None fireplaces

Built in 1922

1,718 sqft

1 story

0.17 acres