2772 Rowena Ave, Los Angeles, CA 90039

Property Description

The subject property is vacant commercial parcel of land, located at 2772 Rowena Avenue in the heart of the Silver Lake neighborhood of Los Angeles. The zoning is C2 (Q) 1VL which permits commercial or medium density multi-residential development ( City of Los Angeles Development Standards are included in the OM that is attached). The parcel is 7,746 square feet with a gentle upslope from Rowena and consists of two lots that are in one APN. The parcel has approximately 74 feet of frontage on Rowena. The property is not in a TOC overlay zone. Silver Lake is a neighborhood that is in high demand for both commercial tenants and residential tenants and residents. The median income is $80,000 within a 1 mile radius, with a population of 340,000 within a 3 mile radius. The median sales price for a SFR home in Silver Lake was $1,400,000 according to Redfin and Zillow during the past 12 months. The streets are lined with artisanal coffee shops, creative eateries, art venues, trendy bars and boutiques. The subject property is within walking distance of Trader Joe’s (0.5 miles) Whole Foods (0.6 miles) and less than a half a mile from the neighborhood’s namesake Silver Lake which has a beautiful green belt, a dog friendly park, as well as walking and jogging paths surrounding the entire lake while offering views off the City of Los Angeles.