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2318 Wellesley Avenue

Los Angeles CA 90064

12500 sq. ft.
Land
Currently for sale - view listing

Overview

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.

Features

12500 sq. ft. lot size
Land

Property history for 2318 Wellesley Avenue

2021
Rented
Undisclosed
17 Feb 2021 by Coldwell Banker Realty
2020
Sold
$1,575,000
12 Oct 2020 by Trevor Schneeberger, of Douglas Elliman - Brentwood
2014
Sold
$868,000
31 Dec 2014 by Scott Price, of KW Advisors

Happy sellers in Los Angeles

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Local market activity for land plots in Los Angeles

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(619) 566-0008
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