1463 Wellesley Ave, Los Angeles, CA, 90025

$3,500,000

1463 Wellesley Ave, Los Angeles, CA, 90025

Courtesy of: Filip Niculete 01905352 | Marcus & Millichap

Information

Purchase Type: Sale

MLS ID: 20-640914

Price: $3,500,000

Days On Market: 107

Lot size: 0.36

Details

Status: Active

Property Type: Residential Land

New Construction: No

Swimming Pool: No

Address: 1463 Wellesley Ave

Country: US

County: Los Angeles

City: Los Angeles

Neighborhood: West L.a.

Zip: 90025

State: California

Description

We are pleased to present 1463-1467 Wellesley Avenue, a high profile Condo / Small Lot Ordinance development opportunity located in 90025, one of the best zip codes in all of Los Angeles. The site is zoned LAR2-1 with dimensions that consists of 100 feet of frontage by 155.30 feet in depth. LAR2-1 allows for one dwelling unit per 2,500 SF of land and for this site, allows a developer to build 6 units by-right and a maximum building envelope of 32,400 SF. With a density bonus, a developer can build 10 units and a building envelope of 44,834 SF. This site would probably be best suited for a small lot subdivision or Co-living concept. Average new construction homes in this zip code sell for over $2.4 million dollars and over $750 per SF. 1467 Wellesley Ave has the option to be SOLD separately at a purchase price of $1,600,000.

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1463 Wellesley Ave, Los Angeles, CA, 90025

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1463 Wellesley Ave, Los Angeles, CA, 90025

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