*****NOTE!! PROPERTY TO BE SOLD TOGETHER WITH 2200 WELLESEY (NEXT DOOR), TOTAL PRICE FOR BOTH $5,400,000.00.***** 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 96 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. Property can be delivered vacant. *: 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. Buyer's to do own due diligence.
