1465 Wellesley Ave | Santa Monica
Unit 1: 2 BED | 1 BATH | Unit 2: 2 BED | 3 BATH
Two single family homes on a 7,762sf lot in West Los Angeles off Santa Monica Blvd adjacent to commercial office building. 1465 house is 2BR/1BA and is leased at $3,300/mo; 1463 house is 3BR/3BA + 2 offices and is occupied by owner with lease back for 4 months at $4,000/mo. The lot can be redeveloped with 5 market rate apartment units or condos. This is a rare opportunity to purchase an income producing property in West LA with great potential for redevelopment and appreciation. Buyer can generate 2.5% cap rate while applying for permits. Also listed for sale together with 1467 Wellesley for $3,600,000. Buyer to verify and satisfy self to all permits and square footage.
Lot Size: 7,761 SQFT
Status: For Sale
Type: Listing Featured