Incredible development/investment opportunity in LA's El Sereno neighborhood centrally located near Pasadena, Alhambra and Downtown LA. This rare 7501 sqft parcel is zoned with the highly coveted LARD 1.5 "Small Lot Subdivision" zoning designation. The LARD 1.5 zoning requirements afford many different development options for this parcel, allowing for the possible development of up to one dwelling per every 1500 SQFT of lot size. This highly buildable 7501 sqft parcel currently contains a 2 bedroom 1.5 bathroom home that can possibly be rented out creating cash flow while in the early stages of planning/development. Whether it be multifamily, townhome or another creative residential project, the development possibilities for this property are endless! Don't miss out on this opportunity.