241 N Park View ST Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90026
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,592 sqft
Price per Sqft $461
MLS Listing ID 24451563
Bedrooms 4
Year Built 1911
Lot Size 7,440 Sqft
Property Description
We are pleased to present 241 N Park View St, a rare FULLY VACANT triplex in the Historic Filipinotown submarket of Los Angeles, just south of the 101 freeway and Echo Park. Built in 1911, 241 N Park View St consists of two separate structures totaling 2,592 rentable square feet that is situated on 7,442 square feet of LARD1.5 zoned land with a Tier 2 TOC density bonus. The unit mix consists of 1 two-bedroom unit located in the rear house and 2 one-bedroom units located in the front duplex which offers a driveway for onsite tandem parking. Being delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property and provides flexibility for determining unit rehab finishes and new tenant selection to ultimately stabilize the property at market rents, making this an excellent investment for any type of investor. As a market rate development site, the Seller has preliminary plans that have been submitted to LADBS for a 7-unit market-rate development. Numerous reports are available for Buyer's review, including survey, soils reports, etc. As an ED1 development project, there's potential to build up to 35- 40 units for 100% affordable housing. By utilizing the ED1 legislation, there is an expedited approval process.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LARD1.5
Interior
Heating Wall Furnace
Cooling None
Exterior
Garage Driveway
Building
Story 1
New Construction No
Others
Special Listing Condition Standard