2200 WELLESLEY AVE

LOS ANGELES, CA, 90064

$5,900,000

$5,900,000
Active
Active
 - For Sale
property_type
Land
We are pleased to present 2200 Wellesley Ave and 12222 Exposition Blvd, a high-profile development opportunity located just steps from the metro line in West LA. These side-by-side lots, each with a single-family home currently on the lot, have rectangular dimensions of 42.8 feet by 110 feet, adding up to a combined 9,416 SF of land (0.22 acres). Furthermore, this double lot is ideally located on a corner with frontage on 3 sides and an alleyway behind. The site is zoned R3 and Tier 4 TOC allowing a developer many options when designing the project. By right, the zoning allows for 12 units with a 45-foot height limit and a building envelope of 19,905. Since it is steps away from the Bundy & Exposition metro stop, this project benefits for Tier 4 location and reaps the best benefits of the program. With the TOC Tier 4 density bonus, a developer can build 24 units, go as high as 7 floors or 78 feet, and most importantly can build with zero parking requirement. The only requirement to receive this bonus is to designate 11% of the units (3 units) for low-income / affordable housing, allowing the developer to have 21 market rate units. Furthermore, a developer could strategically design their building to have future ADU conversions, mathematically bringing the maximum unit count to 30 units, with an approximate 35,000 square foot total building envelope. The property is centrally located in one of the best pockets of Los Angeles. Two blocks to the west is Santa Monica, to the north is West LA, Sawtelle, Westwood and Brentwood, to the east is Ranch Park, Palms and Culver City, and to the south is Venice, Mar Vista and Marina Del Rey. Being able to connect to the Expo Line at the Bundy & Exposition metro station, that runs from the Santa Monica Beach to USC, allows future residents convenient and quick access to the beach and downtown without the need of a car. It also allows residents to connect to other Metro lines which will get you to every pocket of Los Angeles. Within a 5-block radius a tenant can access plenty of employment options, where there are (19) large 100,000-SqFt office buildings and business parks that are home to many companies.
MLS® ID:
21-114137
Listed:
12/26/21
Updated:
6/24/22

Exterior/Building Features

Lot Size
9,415 ft² lot
Lot Details
2-4 Lots

Other Property Details

Attached Garage
No
Parking
N
View
Y
County
Los Angeles
Pool
No
Zoning
LAR3

Property History

Date
Event
Price
Value
5/31/22
Price Change
$5,900,000
-6%

 

Courtesy of Filip Niculete, Marcus & Millichap

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Kris Zacuto shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 6/24/22

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