2318 Wellesley Ave Los Angeles, CA 90064
Property Features for 2318 Wellesley Ave
General Information
- Standard status
- Active
- Lot size
- 0.14 Acres
Source:
Corcoran
Listing Agent: Iman Mossanen
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Double Lot Development Opportunity
2318-2322 Wellesley Avenue presents a double-lot development opportunity in West Los Angeles. The site spans 12,500 square feet with 100 feet of frontage and is zoned R3(EC) under the Exposition Corridor Transit Neighborhood Plan. Located 0.2 miles from the Expo/Bundy Metro Station, the site qualifies for AB 2097's parking exemption and multiple density bonuses. Preliminary feasibility studies indicate potential for up to 66 units through the Mixed Income Incentive Program (MIIP), or up to 95 units via the Affordable Housing Incentive Program (AHIP), with a maximum Floor Area Ratio (FAR) of 4.65:1 and a buildable area nearing 39,092 square feet. The site is improved with two tenant-occupied single-family homes generating $9,100 per month and is not subject to rent control. Situated between Santa Monica, Brentwood, Westwood, and Culver City, the location benefits from proximity to major employers like Riot Games, Sony Pictures, and Fox Studios, as well as large-scale developments including West Edge and Martin Expo Town Center. With a Walk Score of 88, no RSO restrictions, and no parking requirement, this infill site is suited for delivering new housing to an in-demand rental market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential land & home ...
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.45278
- Latitude
- 34.02929
Nearby Similar for Sale
FAQs
What type of property is this?
Residential land & home lot - Rare West Los Angeles double lot near Expo/Bundy Metro Station.
Where is this residential land & home lot located?
The property is located at 2318 Wellesley Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: - Rare double-lot development opportunity in West Los Angeles with potential for up to 95 units via Affordable Housing Incentive Program (AHIP).; - Located just 0.2 miles from Expo/Bundy Metro Station, qualifying for AB 2097 parking exemption and density bonuses.; - Zoned R3(EC) under Exposition Corridor Transit Neighborhood Plan, with a max FAR of 4.65:1 and buildable area nearing 39,092 SF.