Description
Amazing investor/developer opportunity in Koreatown! Existing 2-bed 1-bath + bonus room Craftsman-style home built in 1910. This property sits on 4,801 lot and is zoned Lar3 which can be legally converted into a 6-unit apartment. But with the Tier 3 Bonus Density, a potential 3 additional units can be added, turning it into a 9-unit apartment building. The majority of this street are all apartment buildings. Area is booming with new construction and development, and this land is highly desirable for huge upside in ROI. For those not looking to develop, the property needs some cosmetic work and has a lot of existing charm and character details inside the spacious Craftsman property. Detached 2-car garage towards the back of the lot also needs work and repair.
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2BEDS
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0.11ACRES
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1BATHS
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01/2 BATHS
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1,344SQFT
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$655$/SQFT
Description
Amazing investor/developer opportunity in Koreatown! Existing 2-bed 1-bath + bonus room Craftsman-style home built in 1910. This property sits on 4,801 lot and is zoned Lar3 which can be legally converted into a 6-unit apartment. But with the Tier 3 Bonus Density, a potential 3 additional units can be added, turning it into a 9-unit apartment building. The majority of this street are all apartment buildings. Area is booming with new construction and development, and this land is highly desirable for huge upside in ROI. For those not looking to develop, the property needs some cosmetic work and has a lot of existing charm and character details inside the spacious Craftsman property. Detached 2-car garage towards the back of the lot also needs work and repair.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-02-03T20:30:46.617. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Action Realty. Licensed in the State of California, USA.