Property
Ownership: | For Sale |
---|---|
Bedrooms: | 12 BR |
Bathrooms: | 12 |
Area: | 8702 sq ft |
Lot Size: | 0.20 Acres |
FinancialsPrice:$3,900,000
DescriptionPrime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.
NeighborhoodMore listings:
Prime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.
674 S Catalina St 12BR Hancock Park La
DescriptionPrime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.
NeighborhoodMore listings:
Prime Koreatown LAR5-zoned property with Tier 3 TOC designation ideal for high-density multifamily, mixed-use, or future condo/hotel development. 11-unit income-producing building, fully occupied, generating $13,640.88/month in actual rents ($163,690.56 annually). Cap rate ~2% | GRM 23.82 this is a land-value and entitlement play, not a cash-flow asset. Flat 8,700 SF lot with potential for 26,000 buildable SF by right (buyer to verify).No Ellis Act or tenant buyouts completed developers maintain full control of exit or repositioning strategy. Subject to LA Rent Stabilization (RSO); Unit 3 currently rented at $394/month under RSO. Income can support carrying costs during planning or entitlement phases. Located just blocks from Wilshire Blvd, Metro stations, and major Koreatown projects. Rare offering in a dense, high-demand corridor with limited LAR5 inventory. Not currently RTI but the flat LAR5 lot and Tier 3 zoning make it a candidate for streamlined entitlement.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.