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.
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