The LT250S is just an LT230S with a 30cc larger engine.
Everything else is basically identical.
So, if the LT250S is any good for a hybrid, the LT230S would be just as suitable.

As far as the front suspension, it's narrower than the 250, but wider than the Z400 on the bottom.
It wouldn't take much effort at all to reposition the lower a-arm tabs and retrofit Z400 a-arms.
Problem is, the 230 frame is pretty weak for its weight...so it would need some reinforcing.
As far as the size of the frame itself, it would be a great if you could get the Z400's wheelbase on a 230 (it would be like having a +6 swingarm and +6 a-arms).
Probably handle like nobody's business.
The other problem is that the engine area is also pretty small, so that limits you in what kind of engines you can run without serious modifications to the frame (think sport bike engine in a zilla modifications).
A 4-stroke thumper engine would be the easiest choice, as you could bend the exhaust to conform a lot easier than you could a 2-stroke pipe.
I've done some preliminary measurements and I believe a Z400 engine could fit without too much work, possibly an LTR with some tank and frame modifications.

That help answer your questions?