241 Park View St Los Angeles, CA 90026

This fully vacant triplex at 241 N Park View St, Los Angeles, CA 90026, presents a unique value-add investment opportunity. The property, built in 1911, comprises two structures totaling 2,592 rentable square feet on a 7,442 square foot lot zoned LARD1.5. The unit mix includes one two-bedroom unit and two one-bedroom units, offering five parking spaces. Currently vacant, this allows for immediate repositioning and flexibility in renovations and tenant selection to maximize market rent potential. Preliminary plans for a seven-unit market-rate development have been submitted to LADBS. Further development potential exists under ED1 legislation, potentially allowing for 35-40 units of 100% affordable housing with an expedited approval process. The property's current NOI is $60,699, with a 5.08% cap rate. Available reports include surveys and soils reports. The asking price is $1,195,000, representing $461.03 per square foot and $398,333.33 per unit. The land value is $160 per square foot. This property is an excellent investment for those seeking redevelopment potential in a desirable Los Angeles location.