Developer buys West LA single-family homes, plans 100-unit affordable housing redevelopment
Three single-family homes in West Los Angeles are under new ownership as a developer looks to bring affordable housing to the site. Passo, a Los Angeles-based affordable housing builder, purchased three vacant homes at 1463-1467 Wellesley Avenue in Sawtelle for $3.9 million with plans to redevelop the 15,400-square-foot property with 100 affordable apartment units, L.A. Business First reported. The seller was developer Bo Zarnegin. The deal to buy the homes closed in a 45-day escrow. Passo is “immediately” moving forward with plans and permitting to build the housing, according to The Saghian Group, which represented Passo in the deal. Kidder […]This article originally appeared on The Real Deal. Click here to read the full story.
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