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$4,100,000
Est. payment /mo
0.29 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25561685
Lot Size 0.287 Acres
Acres 0.1435
Property Description
2318-2322 Wellesley Avenue offers a rare double-lot development opportunity in the heart of West Los Angeles. Spanning 12,500 SF with 100 feet of frontage, the site is zoned R3(EC) under the Exposition Corridor Transit Neighborhood Plan and sits just 0.2 miles from the Expo/Bundy Metro Station, qualifying it 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 max FAR of 4.65:1 and buildable area nearing 39,092 SF. The site is currently improved with two tenant-occupied single-family homes generating $9,100/month and is not subject to rent control. Located between Santa Monica, Brentwood, Westwood, and Culver City, the site 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 is a high-impact infill site ideal for delivering new housing to one of LA's most constrained and in-demand rental markets.
Location
State CA
County Los Angeles
Area West L.A.
Zoning R3(EC)
Exterior
Waterfront Description None
View Y/N Yes
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Building
Lot Description 2-4 Lots
Others
Special Listing Condition Standard
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Listed by Marcus & Millichap
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