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1463 Wellesley Ave, Los Angeles, CA 90025
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1463 Wellesley Ave Los Angeles, CA 90025

$3,210,000 Sold Price as of 01/07/2022
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
Sold
$3,210,000 Sold Price as of 01/07/2022 Refinance Your Mortgage
Map preview of 1463 Wellesley Ave, Los Angeles, CA 90025

Property Overview: 1463 Wellesley Ave Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 15,523 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Filip Niculete | BRE #01905352 | Marcus & Millichap
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 309

Home details

Lot Sq. Ft
15,523
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Sold
MLS#
20640914
City
Los Angeles
County
Los Angeles
Time on Site
1224 days

Property Details for 1463 Wellesley Ave

Lot Details / Garage and Parking
Lot Information
  • Lot Size Source: Assessor
Property Information
  • No View
  • View: None
  • Parcel Number: 4267031026
  • Has Additional Parcels
Location / Neighborhood
Location Information
  • Directions: Wellesley & Ohio
View more facts & features

Local Los Angeles Agent

Sale History for 1463 Wellesley Ave

Last sold for $3,210,000 on January 7th, 2022

  • August, 2021

  • Aug 6, 2021

    Date

    Pending

    CRMLS: 20640914

    $3,300,000

    Price

  • Jun 18, 2021

    Date

    Price Change

    CRMLS: 20640914

    $3,300,000

    Price

  • Jan 16, 2021

    Date

    Price Change

    CRMLS: 20640914

    $3,500,000

    Price

  • Oct 2, 2020

    Date

    Active

    CRMLS: 20640914

    $3,800,000

    Price

  • August, 2019

  • Aug 19, 2019

    Date

    Expired

    CRMLS: 19450088

    $3,600,000

    Price

  • Aug 2, 2019

    Date

    Withdrawn

    CRMLS: 19450088

    $3,600,000

    Price

  • Apr 3, 2019

    Date

    Active

    CRMLS: 19450088

    $3,600,000

    Price

  • Listing provided courtesy of CRMLS

    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.

  • October, 2015

  • Oct 8, 2015

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1463 Wellesley Ave

Assessed Value (2020): $402,621
Year Land Value Improved Value Assessed Value
2020 $67,005 $335,616 $402,621

Home Value Compared to the Market

This property vs the competition

1463 Wellesley Ave sold on January 7, 2022 for 177.31% higher than the current median sold price for the city of Los Angeles which is $1,190,000.

About 1463 Wellesley Ave

Detailed summary of property

1463 Wellesley Ave is a land that recently sold in Los Angeles, CA 90025. This land offered -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 15,523 square foot lot. 1463 Wellesley Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $3,210,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 177.31% higher than the current median priced home. Local homes that are currently for sale include 843 W 82nd St, 8112-8200 S Broadway and 809 N Alvarado St. While the average home in Los Angeles, CA is selling in 93 days, 1463 Wellesley Ave has a days on market of 309 days. There are currently 3718 homes for sale in the Los Angeles real estate market and 2495 of them are single family homes while 1123 of them are condos and 94 are townhomes. For more information on this home for sale at 1463 Wellesley Ave Los Angeles, CA 90025 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1463 Wellesley Ave

Public county record property details
Beds
2
Baths
1
Year built
1923
Sq. Ft.
1,299
Lot Size
7,761
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
83
APN
4267-031-026

The source for these homes facts are from public records.

90025 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,000
Median List Price/Sq.Ft.
$749
Median Sold Price
$1,100,935
Median Sold Price/Sq.Ft.
$698
Total Inventory
114
Median Sale to List Price %
104.95%
Avg Days on Market
32
Loan Type
Conventional (13.64%), FHA (0%), VA (0%), Cash (18.18%), Other (9.09%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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