Property / Location Highlights
-Great development opportunity located in Atwater Village
-Unentitled giving the creative developer multiple possible scenarios that best fit their goals
-7,200 SF Flat Lot, with RD1.5-1-RIO zoning
-Currently a vacant SFR
-Incredible location in Atwater Village, with close proximity to Glendale, Silverlake / Echo Park, Hollywood, and all of NELA, as well as DTLA.
-Near Shops and restaurants on Glendale Blvd with immediate access to Hyperion into Silverlake and Griffith Park.
Executive Summary
The Growth Investment Group is proud to present this Atwater Village multifamily development opportunity located on Atwater just off Fletcher. The property has different development options available and the location commands top dollar and high demand for the new finished product.
The property is currently an existing vacant SFR on a flat 7,200+ SF lot and is zoned [Q]RD1.5-1-RIO. The property is currently unentitled giving the owner flexibility on their desired project, including 5+ unit apartment building and adding ADU’s or doing a small lot subdivision project building for rent or for sale product.
Below are multiple possible scenarios for the savvy developer:
Option 1: 5 Units (By Right)
-Unit Summary (5 total units) Unit area Total area
-(3) attached multi-family, 3 stories 1,845 sf/ea 5,535 sf
-(2) detached ADUs, 2 stories 1,126 sf/ea 2,252 sf
-Option 1 total development area 7,787 sf
Option 2: 8 Units (By Right)
-Unit Summary (8 total units) Unit area Total area
-(2) duplex units, 3 stories 1,290 sf/ea 5,160 sf
-(4) ADUs, 2 stories 646 sf/ea 2,584 sf
-Option 2 total development area 7,744 sf
Option 3: 4 Units- Small lot Subdivision
-Possible ADU’s.
-Price for new product in the area is selling at +/-$800 per SF.
*BUYER to VERIFY and CONDUCT THEIR OWN DILIGENCE with their architect and the city regarding records for the existing structure and development potential of the subject property. Seller is selling the property AS-IS, WHERE-IS, and without any development entitlement.