***NOTE!!! PROPERTY TO BE SOLD TOGETHER WITH HOUSE NEXT DOOR, 12222 EXPOSITION, PROPERTIES TO BE SOLD TOGETHER FOR $5,450,000.00. **** BTRE is pleased to present a prime development opportunity in rapidly changing Olympic/Bundy area, literally right across from the Metro Line, a stone's throw from retail (Trader Joes, Gelsons), entertainment (Bars, restaurants, coffee shops, in re-vitalized Pico/Bundy area, as well as large Westedge mixed-use upscale apartment/retail development) and quite nearby to employment centers (Fox 11; Riot Studios; USC Medical). 2200 Wellesely and 12222 Exposition are 2 contiguous lots, which both benefit from the highly coveted LAR3 TOC Tier 4 Zoning. A recent feasibility study on the property shows a current POTENTIAL OF UP TO 105 UNITS ON THE PROPERTY - based on the new ED1 program, a product of a recent (December 2022) executive order from the City of LA, designed to encourage affordable housing.[Other potential unit mixes are available, but highest/best use is ED-1 by far, see feasibility study in documents folder for full report*]There are homes on both lots, and there are tenants in the homes. Do not disturb tenants; drive by only/contact agent for any further viewing. Can be delivered vacant. [see private remarks] *: Feasibility study obtained by Seller's agent from third party. Seller, Sellers Brokers, Sellers Agents, make no warranties as to the correctness of said information. Buyer to do own due diligence.
24381585
Single Family, 1 Story
2
Los Angeles
1 Full
1935
0.1081
Acres
Public
1
Wood
Sewer Tap Paid
914
Sq. Ft.
Bathrooms
1
Total:1
Detailed Room Information
- Bedroom(s)
- Total: 2
Interior Features
- Appliances
- Double Oven,Dishwasher,Gas Cooktop,Disposal,Gas Oven,Dryer,Washer
- Flooring
- Wood
- Heating
- Other. Wall Furnace.
- Common Walls
- No Common Walls
- Entry Location
- Main Level
- Fireplaces
- None.
- Additional Interior Features
- Attic
Exterior / Lot Features
- Parking
- 2 Parking Spaces. 0 Covered Parking Spaces. Driveway Down Slope From Street.
- Exterior
- Wood
- Roof
- Other
- Pool Description
- None
- Lot View
- City
- Lot Dimensions
- 43x110
- Zoning
- LAR3TOC4
- Fence
- Wood
Financial Considerations
4259030007
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