241-245 N Union Ave, Los Angeles, CA 90026

Kidder Mathews is pleased to exclusively present the opportunity to acquire 241-245 N Union Ave, a fully entitled 18-home small lot subdivision development site located in the heart of Historic Filipinotown, one of Los Angeles' most dynamic infill neighborhoods. Positioned just south of Echo Park Lake and minutes from Silver Lake, Downtown Los Angeles, Westlake, and Koreatown, the property offers an exceptional opportunity to develop a highly desirable for-sale residential community in a supply-constrained urban market.

The offering consists of a vacant and fully demolished ±28,700 SF site zoned RD1.5-1, Tier 2, with valuable street-to-alley frontage and an approved Vesting Tentative Tract Map for 18 small lot homes. The property has been completely cleared, eliminating demolition and relocation risk while allowing a developer to advance the project toward construction. Substantial entitlement, design, and planning work has already been completed, significantly reducing front-end development uncertainty. Permit fees must be paid prior to September 1, 2026, to maintain the current approvals, and the purchaser will be responsible for posting the required bond for public right-of-way improvements. B Permit improvements consist of new and upgraded sidewalks, curb and gutter improvements, street trees, street lighting, sewer and storm drain, or water connections within the public right-of-way.

The approved development consists of 18 contemporary multi-story townhomes featuring private rooftop decks, approximately ±31,243 SF of livable area, and approximately ±42,568 gross SF. The homes average approximately ±1,736 SF and range from ±1,607 to ±1,920 SF, offering spacious three- and four-bedroom floorplans with private garage parking and guest parking accommodations. The thoughtfully designed unit mix includes five Style A residences, six Style B residences, and seven Style C residences, providing a diverse product tailored to the demands of today's urban homebuyer.

The property's premier location places future residents within close proximity to the dining, entertainment, retail, and cultural amenities of Echo Park, Silver Lake, Historic Filipinotown, Temple St, Beverly Blvd, Sunset Blvd, and Downtown Los Angeles. Convenient access to the 101 Freeway further enhances connectivity throughout the region, making the site attractive to both owner-users and investors alike.

Offered at $4,495,000, 241-245 N Union Ave represents a rare opportunity to acquire a land-cleared, fully entitled 18-home small lot development site with substantial entitlement and design work already completed. The offering is available as an outright sale or potential joint venture opportunity, providing flexibility for developers and capital partners seeking a well-located for-sale residential project in one of Los Angeles' most sought-after infill submarkets.