3119 Andrita St is a massive (8,961 square foot) LARD2 lot 5 minutes from the heart of trendy Atwater Village that will be delivered with RTI plans! This SB-8 EXEMPT, NON RENT-CONTROLLED project (ultra-rare!) has approved plans for: three 4 bedroom units, one 3 bedroom house remodel (which will save major costs on the build), a detached 3 bedroom ADU, and an attached 1 bedroom ADU (a rec room conversion). Upon completion of the construction, we project an exit price of $3,400,000- making for an estimated profit of $750,000. Build and sell or build and hold with a projected monthly rent of $22,000! You can’t go wrong.
In terms of location, 3119 Andrita St is situated in the Atwater Village/Glassell Park area, less than 5 minutes to both Los Feliz and Glendale Blvd, which are home to a combination of trendy local shops and restaurants, as well as convenient chain stores and restaurants. If you travel the other direction (southwest), you’ll quickly run into the countless hotspots on Eagle Rock Blvd. This rapidly gentrifying neighborhood is known for attracting young hipster tenants and families who enjoy the close proximity to Silver Lake, Eagle Rock, and Glendale!