1463 Wellesley Avenue, Los Angeles, CA 90025

$3,600,000
7
BD
5
BA
List Price
$3,600,000
Status
Active
MLS#
19450088
Year Built
1923
Bedrooms
7
Bathrooms
5
Lot Size
15,524
Days on Market
85
Property Type
Multifamily

Property Description

Two adjacent lots (1463 & 1467 Wellesley Ave) in West Los Angeles off Santa Monica Blvd consisting of 15,524sf which can be combined together to create a single building site with 100ft of frontage on Wellesley Ave resulting in a merged lot project containing either 9 market rate apartments or condos, or 12 apartment units with 2 affordable. Large lot lends itself to a number of architectural possibilities with large units, space for amenities and lower cost of parking construction. There are 3 single family homes on site generating $12,250/mo in rental income allowing developer to cover expenses and generate 2.6% cap rate while applying for permits.

Additional Information

Appliances
Garbage Disposal, None
Heat
Other
Cooling
Wall Unit(s)
View

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Hilton & Hyland, David Kramer - CA DRE#00996960

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