241 N Park View St
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241 N Park View St
3 Unit Block of Flats £944,062 (£314,687/Unit) 5.08% Net Initial Yield Los Angeles, CA 90026
Investment Highlights
- g delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property and provides flexibility.
Executive Summary
We are pleased to present 241 N Park View St, a rare FULLY VACANT triplex in the Historic Filipinotown submarket of Los Angeles, just south of the 101 freeway and Echo Park.
Built in 1911, 241 N Park View St consists of two separate structures totaling 2,592 rentable square feet that is situated on 7,442 square feet of LARD1.5 zoned land with a Tier 2 TOC density bonus. The unit mix consists of 1 two-bedroom unit located in the rear house and 2 one-bedroom units located in the front duplex which offers a driveway for onsite tandem parking.
Being delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property and provides flexibility for determining unit rehab finishes and new tenant selection to ultimately stabilize the property at market rents, making this an excellent investment for any type of investor.
As a market rate development site, the Seller has preliminary plans that have been submitted to LADBS for a 7-unit market-rate development. Numerous reports are available for Buyer’s review, including survey, soils reports, etc.
As an ED1 development project, there’s potential to build up to 35- 40 units for 100% affordable housing. By utilizing the ED1 legislation, there is an expedited approval process.
Contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com for additional information.
Built in 1911, 241 N Park View St consists of two separate structures totaling 2,592 rentable square feet that is situated on 7,442 square feet of LARD1.5 zoned land with a Tier 2 TOC density bonus. The unit mix consists of 1 two-bedroom unit located in the rear house and 2 one-bedroom units located in the front duplex which offers a driveway for onsite tandem parking.
Being delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property and provides flexibility for determining unit rehab finishes and new tenant selection to ultimately stabilize the property at market rents, making this an excellent investment for any type of investor.
As a market rate development site, the Seller has preliminary plans that have been submitted to LADBS for a 7-unit market-rate development. Numerous reports are available for Buyer’s review, including survey, soils reports, etc.
As an ED1 development project, there’s potential to build up to 35- 40 units for 100% affordable housing. By utilizing the ED1 legislation, there is an expedited approval process.
Contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com for additional information.
Property Facts
| Price | £944,062 | Property Subtype | Apartment |
| Price Per Unit | £314,687 | Apartment Style | Low Rise |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Net Initial Yield | 5.08% | Building Size | 2,592 SF |
| Sale Conditions | Development Sale | Average Occupancy | 0% |
| Gross Rent Multiplier | 13.46 | Number of Floors | 1 |
| No. Units | 3 | Year Built | 1911 |
| Property Type | Residential | Parking Ratio | 1.93/1,000 SF |
| Price | £944,062 |
| Price Per Unit | £314,687 |
| Sale Type | Investment |
| Net Initial Yield | 5.08% |
| Sale Conditions | Development Sale |
| Gross Rent Multiplier | 13.46 |
| No. Units | 3 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.17 AC |
| Building Size | 2,592 SF |
| Average Occupancy | 0% |
| Number of Floors | 1 |
| Year Built | 1911 |
| Parking Ratio | 1.93/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 1 | £2,370 | - |
| 1+1 | 2 | £1,738 | - |
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Walk Score ®
Very Walkable (89)
zoning
| Zoning Code | LARD1.5 (Tier 2 TOC) |
| LARD1.5 (Tier 2 TOC) |
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241 N Park View St
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