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$ 1,150,000
Est. payment | /mo
5,715 Sqft Lot
$ 1,150,000
Est. payment | /mo
5,715 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL26793247
HOA Y/N No
Lot Size 5,715 Sqft
Acres 0.1312
Property Sub-Type Unimproved Land
Property Description
We are pleased to present 3417 South Catalina Street, a USC-adjacent infill development site located within the USC Patrol Zone. The property is currently improved with a leased single-family home, providing in-place rental income while a buyer advances entitlements and finalizes a development program.The site is R3-zoned, offering the opportunity for higher-density residential development through multiple paths. A recently prepared conceptual feasibility study illustrates the potential for an ED1 / 100% affordable strategy, envisioning a 25-unit student-housing-oriented program with a five-story + podium configuration and nine (9) vehicle parking spaces (conceptual Buyer to verify).The property is currently managed by Stuho, the largest private USC student housing operator, who has identified a lower-density value-add strategy including duplex conversion of the existing SFR, an attached ADU, and new rear ADU development targeting $208,800 in gross potential rent allowing a buyer to retain the existing improvements and increase density incrementally. 3417 S. Catalina offers investors and developers a rare combination of current income and meaningful entitlement upside in one of the most proven student housing markets in the country.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.The subject property is being offered in conjunction with the adjacent parcel located at 34163418.5 Walton Avenue. Together, these offerings provide investors with enhanced flexibility to pursue a range of development and value-add strategies. The properties are available for acquisition individually or together.
Location
State CA
County Los Angeles
Zoning R3-1-CPIO
Interior
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5040019013
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Listed by Sean Rosenzweig • Marcus & Millichap
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