Develop or establish a stunning home or multi-family. This hillside vacant lot is situated in the desirable Silver Lake Waverly Terrace neighborhood of Los Angeles. This is a highly developed residential area, and the lot is surrounded by numerous custom homes and apartment building. You’ll be able to enjoy the stunning mountain views and the picture-perfect downtown LA cityscape which lies just beyond the shimmering Silver Lake Reservoir.
Take pleasure in the living conveniences that are close by Ivanhoe Elementary School, retail stores, restaurants, cafes, Trader Joe’s, Gelson’s, Whole Foods, a farmers’ market, Glendale Galleria mall, Downtown LA, and China Town. This lot is also close to many notable landmarks such as The Greek Theatre, Griffith Observatory, Universal Studios, Dodger Stadium, Staples Center, Griffith Park and several recreation parks, golf courses, hiking trails, bike paths, and leisure activities all within close reach. There’s easy access to public transportation, major 5 and 2 freeways to DTLA, Hollywood, Glendale, and Burbank.
This R1.5 multiple residential land zoning sits on the parcel APN 54534-025-027 block#2, with a total lot size of approx. 9,090 square feet. Current zoning allows for the development of one-family dwellings, two-family dwellings, or multiple dwellings for up to six units. The lot can be accessed through an easement between 2841 and 2849 Waverly Avenue and is in front of 2939 Waverly Avenue.
The area offers a great development opportunity for individual builders or an experienced developer, looking for an exceptional style of living in a relaxed environment at an exceptional value. The purchaser ought to carry out their own due diligence to verify all aspects regarding the development plan, zoning regulations, utilities, restrictions, and land use to determine that the property type is suitable for intended use with the city.