2
See all 2 photos
$1,750,000
Est. payment /mo
7,779 Sqft Lot
New
226 N Catalina ST Los Angeles, CA 90004
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25179028
HOA Y/N No
Lot Size 7,779 Sqft
Property Description
The Overlook LA Development site is a 7,780 SF transit-oriented single lot development opportunity. The site is 950 feet from the entrance to the Vermont/Beverly Redline Station and is currently entitled for 17 apartment units utilizing TOC.
While perhaps contrarian to lead with the TOC entitlement based on the market's feverish rush to produce affordable housing leveraging compelling policy changes (of which this property is certainly also the beneficiary of), we believe the entitled 17-unit TOC project provides the most holistic basis for understanding the real estate's potential, the available critical work product, and the capacities of the surrounding supportive infrastructure. Not to mention, it is a rare opportunity to break ground now - allowing a builder to take advantage of five years of entitlement work.
The project is at the perfect stage to pass the baton…speaking of which, this project can be completed prior to the Olympics…made possible by almost five years of entitlement work leading to this point which required a traverse of the SNAP Specific Plan, LADBS, and the Housing Department.
While perhaps contrarian to lead with the TOC entitlement based on the market's feverish rush to produce affordable housing leveraging compelling policy changes (of which this property is certainly also the beneficiary of), we believe the entitled 17-unit TOC project provides the most holistic basis for understanding the real estate's potential, the available critical work product, and the capacities of the surrounding supportive infrastructure. Not to mention, it is a rare opportunity to break ground now - allowing a builder to take advantage of five years of entitlement work.
The project is at the perfect stage to pass the baton…speaking of which, this project can be completed prior to the Olympics…made possible by almost five years of entitlement work leading to this point which required a traverse of the SNAP Specific Plan, LADBS, and the Housing Department.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning R3-1
Interior
Fireplace No
Exterior
Community Features Gutter(s), Storm Drain(s), Street Lights, Sidewalks, Urban
View Y/N Yes
View City Lights, Hills, Mountain(s), Neighborhood, Panoramic
Building
Lot Description 0-1 Unit/Acre, 16-20 Units/Acre, 11-15 Units/Acre, 2-5 Units/Acre, 21-25 Units/Acre, 26-30 Units/Acre, 36-40 Units/Acre, 31-35 Units/Acre, 6-10 Units/Acre, Level, Rectangular Lot
Water Public
New Construction No
Others
Senior Community No
Tax ID 5518025005
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Francis Evanisko Evanisko Realty & Investment 213-200-6957