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