New Construction
Address
1463 Wellesley Avenue Los Angeles, CA
Price
$ 3,500,000
Property Attributes
  • MLS#0020640914
  • TypeLand
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaWest Los Angeles
  • Zip90025
  • Style
  • Price$ 3,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.36 Acres
Listing Provided Courtesy Of:
Marcus & Millichap
Data Source:
California Desert Association of REALTORS
Property Description

We are pleased to present 1463-1467 Wellesley Ave, a high profile Condo / Small Lot Ordinance development opportunity located in 90025. 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. The property is ideally located a few miles from the world famous beaches of Santa Monica & Venice and a short drive from the prominent cities of Century City, Westwood, Beverly Hills, Santa Monica and Brentwood. With this ease of access and proximity to up-and-coming tech companies, young and educated professionals are flocking to the area creating significant demand for housing. The dense immediate population, high barriers to entry, strong market fundamentals, and plethora of local amenities, offers an investor or developer, landlord favored market conditions with significant growth potential.

Price History
10/2/2020 Listed $3,800,000
1/17/2021 8% - $3,500,000

General Features

MLS Area WLA - West Los Angeles
Senior Community Y/N No
Zoning LAR2

Exterior Features

Land Lease Type Fee
Lot Size Acres 0.36
Lot Size Area 15523.0
Lot Size Square Feet 15523.0
Lot Size Units Square Feet
View Y/N No
Water Source None

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90025

Price
AVG $3.63M
$3.5M
Visits
AVG 30
10
Walkscore
AVG 90
95
Data Provided by Walkscore ® not using MLS data

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