Welcome to an extraordinary development opportunity in Colfax Meadows, one of the best neighborhoods in Studio City! Situated on a generous 6,864 corner lot, LARD1.5 zoning, presents a canvas of possibilities for the creative investor or visionary developer to maximize the lot and build multiple units. The added convenience of a corner lot enhances the appeal, providing flexibility for design and construction. The main house (currently occupied), built in 1938, has 2 bedrooms and 1 bath. The permitted, guest unit, (approximately 600 sqft), built in 1935, is currently vacant and has a separate Troost address. Close to the Farmers Market, Tujunga Village, and Ventura Blvd for shopping and restaurants. Located in the coveted Carpenter Community Charter School. TENANT OCCUPIED. PLEASE DO NOT WALK THE PROPERTY.