674 S Catalina Street, Los Angeles, CA 90005
- $2,900,000
- 12
- BD
- 12
- BA
- 7,472
- SqFt
- List Price
- $2,900,000
- Price Change
- ▼ $500,000 1778664021
- Status
- ACTIVE
- MLS#
- 26747731
- Year Built
- 1950
- Bedrooms
- 12
- Bathrooms
- 12
- Living Sq. Ft
- 7,472
- Lot Size
- 8,702
- Acres
- 0.20
- Days on Market
- 106
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
***MAJOR PRICE REDUCTION. Exceptional Koreatown LAR5 / Tier 3 TOC development opportunity. New pricing creates compelling value for developers, investors, and value-add buyers in one of LA's strongest high-density growth corridors.*** 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.
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Additional Information
- Appliances
- Microwave, Refrigerator
- Heat
- Wall Furnace
- Attached Structure
- Detached
- Number Of Units Total
- 11
Listing courtesy of Listing Agent: Beata Mandell (unabella9@yahoo.com) from Listing Office: The Executive Realty Group.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.