Discover the exceptional potential of this historic 1939 building located in the Anaheim Colony Historic District on a high-visibility corridor near The Colony. This approximately 2,100 sq ft property sits on a 5,367 sq ft rectangular lot and offers outstanding flexibility for investors, owner-users, or those seeking income-producing residential conversion. Zoned C-G (General Commercial) with a Mixed-Use Low-Medium (MU-LM) General Plan designation, the site supports multi-family residential development (maximum approximately 2 primary dwelling units based on the 0-18 du/ac density allowance). Per a professional feasibility study and confirmation from the City of Anaheim Planning and Building Department, the property is a legal nonconforming commercial office building, but residential use is permitted when limited to multi-family configurations. Single-family residential uses are not allowed. The highly recommended development path is adaptive reuse of the existing building into a residential duplex combined with up to two new detached 500 sq ft ADUs in the rear parking area. This approach leverages favorable provisions under California Government Code 66323(a)(4)(A) for detached ADUs on qualifying multifamily properties. These ADUs are expected to be approved ministerially, without counting against the local density cap, and without requiring replacement of the existing parking spaces. The property's proximity to a qualifying transit corridor may further eliminate residential parking requirements and help avoid significant development impact fees, keeping costs lower by preserving the existing structure. The building currently features two separate suites with independent primary and rear entrances, ideal for multiple tenants or live-work arrangements. It includes five rear parking spaces accessible from the alley (one designated handicap space), an ADA-compliant ramp and entry, and one ADA-compliant restroom with shower. The rear of the lot offers good privacy thanks to mature trees. Whether you're looking to convert for strong rental income potential (duplex + ADUs), maintain or expand commercial use, or pursue other mixed-use strategies, this property delivers historic charm, modern versatility, and significant upside in a prime Anaheim location. Don't miss this rare opportunity to own a piece of Anaheim Blvd's rich history with clear, study-backed development pathways.