Listing by: Amie Shepard, West Shores Realty, Inc., 310-686-4544
0 Beds
n/a Full bath
n/a SqFt
Active
Rare opportunity to acquire Opportunity Zoned lot assemblage totaling 43,449 square feet. These parcels were previously 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 submitted could afford 100,196 sf of building space. This project was 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 a separate fee. The project can include seller-financing for the land acquisition for up to 2 years. . Project previously vested consists of 3 separate buildings that can be built in phases.
Property Details | ||
---|---|---|
Price | $3,950,000 | |
Lot Size Area | 43449 | |
Lot Size Area Units | Square Feet | |
Acres | 0.9975 | |
Property Type | Land | |
Exterior Features | Suburban | |
View | None | |
Lot Description | 0-1 Unit/Acre | |
Association Fee | 0 | |
Geographic Data | ||
Directions | South of Anaheim on Broad or Avalon | |
County | Los Angeles | |
Latitude | 33.778972 | |
Longitude | -118.262012 | |
Market Area | 196 - East Wilmington | |
Address Information | ||
Address | 718 N Avalon, Wilmington, CA 90744 | |
Postal Code | 90744 | |
City | Wilmington | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | West Shores Realty, Inc. | |
Listing Agent | Amie Shepard | |
Listing Agent Phone | 310-686-4544 | |
Buyer Agency Compensation | 2.000 | |
Attribution Contact | 310-686-4544 | |
Buyer Agency Compensation Type | % | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | Standard | |
MLS Information | ||
Days on market | 67 | |
MLS Status | Active | |
Listing Date | Feb 19, 2024 | |
Listing Last Modified | Apr 27, 2024 | |
Tax ID | 7423002039 | |
MLS Area | 196 - East Wilmington | |
MLS # | SB24034728 |
This information is believed to be accurate, but without any warranty.