241 North Park View Street

Los Angeles, CA 90026

$1,195,000
Price
4
Beds
3
Baths
2,592 Sq. Ft.
$461 / Sq. Ft.
2,592
Sq. Ft.
$461
per Sq. Ft.

Description

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...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.
  1. Listed by Casey Lins • DRE #01902650 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 241 North Park View Street

Zoning
LARD1.5
Parcel Number
5157007023
Total Units
3.0
Living Area
2592
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
2,664
Lot Size Area
7442
LISTING UPDATED: 11/04/2024 09:18 AM

Property Details for 241 North Park View Street

StatusActive
MLS #24-451563
Days on Market72
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1911
Lot Size0.17 AC / 7,442 SF
CountyLos Angeles County

Building Information for 241 North Park View Street

Stories1Residences-Year Built1911Building Size-Lot Size0.17 AC / 7,442 SF

Property Information for 241 North Park View Street

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $86,136
  • Net Operating Income: $60,699.00
  • Gross Income: $88,800
  • Cap Rate: 5.08%
  • Gross Rent Multiplier: $13.46
  • Total Annual Expense: 25438
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.1708
  • Lot Size Square Feet: 7442
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 5
  • Open Other Spaces Total: 5
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-10-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $2,200.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $2,200.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,000.00
  • Unit Actual Rent: $3,000.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $181,086.00
  • Assessed Improvement Percent: 37.5
  • Assessed Land Value: $301,815.00
  • Assessed Land Percent: 62.5
  • Assessed Total Value: $482,901.00

Property History for 241 North Park View Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 241 North Park View Street

Taxable ValueLand$307,851Additions$184,707Total$492,558
Tax Record2024$6,427 ($536 / month)
Home Facts
Total Finished SqFt2,592 SqFtAbove Grade Finished SqFt2,592 SqFtLot Size7,440 SqFtStyleTriplexYear Built1911ZoningLARD1.5CountyLOS ANGELESAPN5157-007-023

Schools near 241 North Park View Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 1
Public - 2 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Lake Street Primary School
PublicK to 1

Rosemont Avenue Elementary School
Public2 to 5

Virgil Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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241 North Park View Street is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on October 10, 2024 by Kidder Mathews of California, Inc., it's currently listed at $1,195,000. It has been on the market for a total of 72 days and was last sold on July 11, 2011. This listing's school district is Los Angeles Unified School District. Nearby schools include Lake Street Primary School, Rosemont Avenue Elementary School and Virgil Middle School. 241 North Park View Street is a 4-bed, 3-bath, 2,592 sqft multi-family home built in 1911.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.