Active

718 N Avalon

Wilmington CA, 90744

$4,999,999


$115.08 per sqft

Active

1 Acres

Land

Listed by Amie Shepard with West Shores Realty, Inc. 310-541-8000

Rare opportunity to acquire Opportunity Zoned lot assemblage totaling 43,449 square feet via Assignment. These parcels have been vested as a 208-Unit apartment building, offering 100% Affordable Housing. This unique opportunity to develop is located in the Wilmington neighborhood of Los Angeles. Architectural design vested will afford 100,196 sf of building space.
This project is currently vested under the 2023 ED1, which is set to undergo imminent revisions. Scheduled to be trimmed back and codified within the next couple of weeks, the current zoning for 208 units will be drastically reduced. This renders the current phase a rare and time-sensitive opportunity, as it may no longer be viable once the codification process is complete.
Environmental inspections have been completed and reports are available for viewing. Full assignment of the project can include seller-financing for the land acquisition for up to 2 years.
Project consists of 3 separate buildings that can be built in phases. Assignee can build all 3 or sell individually in RTI status.

SB24034728

MLS ID

February 19, 2024

Listed

March 28, 2024

Updated

Map

718 N Avalon
Wilmington CA, 90744

Exterior/Building Features

Lot Size

1 Acres


Lot Features

0-1 Unit/Acre

Other Property Details

Area Name

196 - East Wilmington


Garage

No


View

No


View Description

None


County

Los Angeles


Water Source

See Remarks


Pool

No


Zoning

LAC2


Buyer Agency Compensation

2.5%

Listing Contact: 310-541-8000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. 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 3/28/2024 at 3:34 PM UTC

 

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