Rare development or investment opportunity in a premier Montrose location! Situated on a nearly 14,000 square foot flat lot, this highly versatile property features coveted Glendale Multi-Family Residence (R3) zoning, offering endless potential for builders, developers, and savvy investors alike. The single family home currently features three bedrooms and one bathroom, perfectly positioned to provide steady rental income while you finalize your development plans. Strategically positioned between two existing apartment complexes, this lot is a natural fit for multi-family expansion. Adding to its unique appeal, the parcel directly borders a distinctive 10-unit multifamily investment property owned by the same family and currently on the market--offering a rare chance to assemble a generational real estate footprint. Whether you want to build new units, expand the current footprint, or acquire both properties for a massive contiguous multi-family package, this is a premium lot with layered upside that rarely hits the market!