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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 1,091,000

Est. payment | -/mo

4 Beds

4 Baths

2,352 SqFt

Save

$ 1,091,000

Est. payment | -/mo

Save

4 Beds

4 Baths

2,352 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,352 sqft

Price per Sqft $463

MLS Listing ID 26810135

Bedrooms 4

HOA Y/N No

Year Built 1910

Lot Size 5,906 Sqft

Property Description

1228-1230 S Catalina Street presents a rare LAR3 multifamily investment which owner can occupy and redevelopment opportunity in the heart of Koreatown, one of Los Angeles' most supply-constrained and transit-oriented rental submarkets. The property sits on an approximately 0.135 AC lot and is currently improved with a well-maintained duplex, each approximately 1,200 SF with 2 bedrooms and 2 bathrooms; one of the bathroom is not permitted, offering immediate in-place income from one unit and long-term redevelopment flexibility. One unit will be delivered vacant. Originally constructed in 1910, the property retains desirable period character, including original Art Deco fireplaces and Craftsman cabinetry, while benefiting from meaningful capital improvements such as updated electrical systems, copper plumbing, and energy-efficient tankless water heaters. Kitchens have been upgraded with ceramic tile flooring and granite countertops, positioning the asset well for continued rental performance during a hold period. The site is significantly underutilized relative to its LAR3 zoning, creating clear upside for a future multifamily redevelopment. R3 zoning allows for higher residential density, with additional potential to increase unit count through State Density Bonus, SB 423 streamlining, and TOC, Tier 3 incentives; subject to buyer verification. The property's proximity to major transit corridors, employment centers, and neighborhood amenities further supports higher-density residential development and long-term rent growth. A shared landscaped yard with mature trees enhances livability and tenant appeal, while the central location near Koreatown, public transportation, dining, and retail supports sustained demand. The property is well suited for developers, value-add investors, or 1031 exchange buyers seeking a covered land play with multiple exit strategies, including hold, reposition, or ground-up redevelopment. Offered as-is. Buyer to independently verify zoning, density, development incentives, and feasibility.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Rooms

Other Rooms Shed(s)

Interior

Heating Floor Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features Driveway, Gated, Private, Uncovered

View Y/N No

View None

Total Parking Spaces 3

Building

Entry Level Two

Architectural Style Craftsman

Level or Stories Two

Additional Building Shed(s)

New Construction No

Others

Senior Community No

Tax ID 5078030020

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Arthur Yoon Redpoint Realty #01955545

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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1228 S Catalina ST Los Angeles, CA 90006