Lake Fljótavatn is in North-Ísafjarðarsýsla (county), more specifically in Fljótavík at Hornströndum. It is 3.9 km², rather shallow and 1 m above sea level. The rivers Bæjará, Svíná, Hvanná, Reyðá and a number of streams flow into it, but the outlet is through an estuary that is attributed to Atlastaðir. In Fljótavík there is a lot of char fishing, both in the estuary, the lake and the rivers that flow into the lake. In lake Fljótavatn both sea-run char and lake char are caught. The sea-run char are redder in the flesh and tastier. Brown trout are also caught in the lake and some sea trout, but they are usually rather small. The fishing is best in the lake in June and July, and in August the River Reiðá is often full of char.
There is no road connection and access is by sea. It is possible to land small aircraft on the sandy beach.