3037 Atwater AveLos Angeles, CA 90039

Property Details for 3037 Atwater Ave

Property type

Residential income properties

Property subtype

Other land

Description

This exceptional 7,267 square foot corner lot in Los Angeles' Atwater Village presents a prime multifamily development opportunity. Located at 3037 Atwater Ave, 90039, this unentitled property boasts RD1.5-1-RIO zoning, offering flexibility for various projects. Currently a vacant single-family residence, the flat lot allows for multiple development scenarios, including a 5+ unit apartment building with ADUs or a small lot subdivision. Two potential development plans are outlined: Option 1 involves three three-story attached multi-family units (1,845 sq ft each) and two two-story detached ADUs (1,126 sq ft each), totaling approximately 7,787 sq ft. Option 2 includes two three-story duplex units (1,290 sq ft each) and four two-story ADUs (646 sq ft each), for a total of approximately 7,744 sq ft. A third option, a four-unit small lot subdivision with potential ADUs, is also feasible. The property's location offers convenient access to Glendale, Silver Lake, Echo Park, Hollywood, and Downtown Los Angeles, along with nearby shops and restaurants. The asking price is $1,348,000. The property is sold AS-IS, WHERE-IS, without development entitlements. Buyers are responsible for verifying all information and conducting their own due diligence with architects and the city regarding existing structures and development potential. The Assessor's Parcel Number (APN) is 5436-032-035.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.1106

Longitude

-118.249

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