2318-2322 Wellesley Ave, Los Angeles, 90064 2322 Wellesley Ave Lot | Terrain residentiel | 0,12 ha | À vendre | 3 548 632 € | Los Angeles, CA 90064

2318–2322 Wellesley Avenue presents a rare opportunity to acquire a ±12,500 SF double-lot development site in the heart of West Los Angeles—an area known for its affluent demographics, limited land availability, and consistent demand from tech, medical, and media tenants. The offering includes two contiguous, tenant-occupied single-family residences spanning 100 feet of frontage by 125 feet of depth, providing immediate rental income and long-term redevelopment potential.
Located less than 0.2 miles from the Expo/Bundy Metro Station, the site benefits from alignment with the City’s Transit Oriented Development (TOD) strategy and AB 2097, which eliminates parking requirements for projects near high-frequency transit. The property is zoned R3(EC) under the Exposition Corridor Transit Neighborhood Plan, allowing access to substantial density and height incentives. Preliminary feasibility studies suggest development potential for up to 66 units via the Mixed Income Incentive Program (MIIP) and up to 95 units under the Affordable Housing Incentive Program (AHIP), with a maximum FAR of 4.65:1 and buildable area approaching 39,092 SF. The property is not subject to rent control and generates \$9,100 per month in rental income from the existing homes.
The site is centrally positioned between Santa Monica, Brentwood, Westwood, and Culver City—areas experiencing billions in new development and sustained institutional investment. Nearby projects include the 516-unit West Edge development, ±555,000 SF LUMEN office/retail expansion, and the Martin Expo Town Center, all of which have transformed the Bundy-Olympic corridor into a key growth node.
Within five minutes are major employers such as Riot Games, Sony Pictures, Fox Studios, The Wonderful Company, and the USC Ellison Institute. The site also offers convenient access to UCLA, the VA Hospital, and both the I-10 and I-405 freeways. The surrounding area includes over 52 million square feet of office inventory and a dense renter population seeking walkable, transit-connected housing options.
With a Walk Score of 88, flexible zoning, and no RSO restrictions or parking requirements, this property offers developers the opportunity to deliver high-density housing in one of Los Angeles’ most supply-constrained and transit-rich neighborhoods. The nearby Expo/Bundy Metro Station connects the site to Santa Monica, Culver City, and Downtown Los Angeles via the 6.6-mile Expo Line extension, which added seven new stations in 2016 and provides direct access to major employment and cultural hubs.