Active

718 N Avalon

Wilmington CA, 90744

$2,650,000


$89.03 per sqft

Active

0.68 Acres

Land

Listed by Amie Shepard with West Shores Realty, Inc. 310-686-4544

An updated development opportunity is now available in the Wilmington neighborhood of Los Angeles, offering an attractive proposition for experienced builders and developers.
The lot assemblage totals 29,766 square feet, with potential for 100% Affordable Housing under the current 2023 ED1 emergency declaration, which remains active despite the original vesting expiration. This ongoing declaration provides flexibility in pursuing new plans, with initial architectural designs projecting maximum building area in phased development. Early discussions with City Planners have indicated support for an updated development proposal.
The pricing has been revised to reflect the reduced project scope and ownership is open to discussions on seller-financing for the land acquisition, with terms of up to two years.
Environmental inspections have been completed, and the reports are available directly from the vendors for a nominal fee. A potential design option allows for phased development across multiple buildings, offering a methodical and strategic path for execution.
Located within a designated Opportunity Zone, this site offers potential for considerable tax advantages and development design. For those seeking a well-positioned project in Los Angeles, this is an offering worth close consideration.
Buyer to verify all aspects of project site and design.

SB24034728

MLS ID

February 19, 2024

Listed

December 5, 2024

Updated

Map

718 N Avalon
Wilmington CA, 90744

Exterior/Building Features

Lot Size

0.68 Acres


Lot Features

0-1 Unit/Acre

Other Property Details

Area Name

196 - East Wilmington


Days on Market

286


Garage

No


View

No


View Description

None


County

Los Angeles


Water Source

See Remarks


Pool

No


Zoning

LAC2

Listing Contact: 310-541-8000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 12/5/2024 at 3:19 AM UTC

 

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