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… Read More 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. Read Less
Property listed by Redpoint Realty, Arthur Yoon 213-380-1500
Listing Snapshot
Days Online
19
Last Updated
Beds
4
Square Ft.
2,352
Lot Size
0.14 Acres
Year Built
1910
MLS Number
26643939
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1910, Living area: 2352.0, 1 building, Levels: Two
Cooling
WallWindowUnits
Heating
FloorFurnace
Income
Gross Income: $73,440, Net Operating Income: $52,303
Lot
0.1356 acres
Parking
3 total parking spaces, Driveway, Gated, Private, Uncovered
Property
Other structures: Sheds
Taxes
Parcel Number: 5078030020, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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