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We are pleased to present 12222 Exposition Blvd and 2200 Wellesley Ave (must be purchased together), a high-profile development opportunity located just steps from the metro line in West LA. These side-by-side lots, each with a single-family home currently on the lot, have rectangular dimensions of 42.8 feet by 110 feet, adding up to a combined 9,416 SF of land (0.22 acres). Furthermore, this double lot is ideally located on a corner with frontage on 3 sides and an alleyway behind. The site is zoned R3 and Tier 4 TOC allowing a developer many options when designing the project. By right, the zoning allows for 12 units with a 45-foot height limit and a building envelope of 19,905. Since it is steps away from the Bundy & Exposition metro stop, this project benefits for Tier 4 location and reaps the best benefits of the program. With the TOC Tier 4 density bonus, a developer can build 24 units, go as high as 7 floors or 78 feet, and most importantly can build with zero parking requirement. The only requirement to receive this bonus is to designate 11% of the units (3 units) for low-income / affordable housing, allowing the developer to have 21 market rate units. Furthermore, a developer could strategically design their building to have future ADU conversions, mathematically bringing the maximum unit count to 30 units, with an approximate 35,000 square foot total building envelope. The property is centrally located in one of the best pockets of Los Angeles. Two blocks to the west is Santa Monica, to the north is West LA, Sawtelle, Westwood and Brentwood, to the east is Ranch Park, Palms and Culver City, and to the south is Venice, Mar Vista and Marina Del Rey. Being able to connect to the Expo Line at the Bundy & Exposition metro station, that runs from the Santa Monica Beach to USC, allows future residents convenient and quick access to the beach and downtown without the need of a car. It also allows residents to connect to other Metro lines which will get you to every pocket of Los Angeles. Within a 5-block radius a tenant can access plenty of employment options, where there are (19) large 100,000-SqFt office buildings and business parks that are home to many companies. MLS® ID: 22183207 Listed: 7/25/22 Updated: 10/16/22 Interior Features Total Bedrooms: 3 Full Bathrooms: 1 Laundry Description: See Remarks Exterior/Building Features Lot Size: 4,707 ft2 lot Architectural Style: Other Other Property Details Area Name: WLA - West Los Angeles Garage: No Parking: Covered Parking Total: 2.0 View: Y County: Los Angeles Pool: No Pool Description: None Total Stories: 1 Zoning: LAR3 Property History Date Event Price Value 8/29/22 Price Change $2,950,000 -50% Courtesy of Marcus & Millichap, Filip Niculete, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/16/22. 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.