Investment Overview

2318–2322 Wellesley Avenue is a rare double-lot development opportunity in the heart of West Los Angeles. Spanning ±12,500 SF with 100 feet of street frontage, the site is improved with two tenant-occupied single-family homes generating $9,100/month in rental income—offering immediate cash flow while pursuing entitlements or redevelopment. Located just 0.2 miles from the Expo/Bundy Metro Station, the property qualifies for AB 2097, eliminating parking requirements, and aligns with Los Angeles’ Transit Oriented Development strategy. Zoned R3(EC) under the Exposition Corridor Transit Neighborhood Plan, the site is eligible for major density bonuses—allowing up to 66 units through MIIP and up to 95 units through AHIP, with a max FAR of 4.65:1 and a buildable area of approximately 39,092 SF. The site is fully exempt from LA’s Rent Stabilization Ordinance. Surrounded by high-profile developments like the 516-unit West Edge, the 555,000 SF LUMEN West LA expansion, and Martin Expo Town Center, this location sits at the epicenter of a high-growth corridor with sustained demand from tech, media, and medical tenants. Major employers nearby include Riot Games, Sony Pictures, Fox Studios, The Wonderful Company, and USC’s Ellison Institute. The area also offers immediate access to I-10 and I-405, UCLA, the VA Hospital, and over 52 million square feet of office inventory. With flexible zoning, no rent control, no parking requirements, and unmatched proximity to jobs, transit, and amenities, this site offers developers the chance to build high-density housing in one of LA’s most supply-constrained and future-focused submarkets.