674 S Catalina St new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90005
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,472 sqft
Price per Sqft $521
MLS Listing ID 25543419
Bedrooms 12
Year Built 1950
Lot Size 8,702 Sqft
Acres 0.1998
Property Sub-Type Multi-Family
Property Description
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.
Location
State CA
County Los Angeles
Area Mid-Wilshire
Zoning LAR5
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall Unit(s)
Equipment Range/Oven, Refrigerator, Microwave
Exterior
Parking Features Uncovered, Driveway
Garage Spaces 7.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard