241 N Park View Street

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.

Listing information courtesy of: Casey Lins, Kidder Mathews of California, Inc. 714-333-6768. *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.