New Construction
Address
1463 -1467 Wellesley Avenue Los Angeles, CA
Price
$ 3,300,000
Property Attributes
  • MLS#20640914
  • TypePending
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaWest Los Angeles
  • Zip90025
  • Style
  • Price$ 3,300,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.36 Acres
Listing Provided Courtesy Of:
Filip Niculete with Marcus & Millichap - 818-357-9525
Data Source:
California Regional MLS (CRMLS) - 25 - CA
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
1/16/2021 8% - $3,500,000
6/18/2021 6% - $3,300,000

General Features

Additional Parcels Y/N Yes
Listing Agent Filip Niculete - BRE#01905352
Listing Agent State License 01905352
MLS Area WLA - West Los Angeles
Property Type Land
Special Listing Conditions Standard
Status Pending
View None
Zoning LAR2

Exterior Features

Lot Size Acres 0.36
Lot Size Area 15523
Lot Size Source Assessor
Lot Size Square Feet 15523
Lot Size Units Square Feet

Amenities

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

Property vs Pending Average in 90025

Price
AVG $900K
$3.3M
Visits
AVG 7
143
Walkscore
AVG 88
95
Data Provided by Walkscore ® not using MLS data

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