Listing by: Amie Shepard, West Shores Realty, Inc., 310-686-4544
0 Beds
n/a Full bath
n/a SqFt
Active
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.
Property Details | ||
---|---|---|
Price | $2,650,000 | |
Lot Size Area | 29766 | |
Lot Size Area Units | Square Feet | |
Acres | 0.6833 | |
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 | |
Attribution Contact | 310-686-4544 | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | Standard | |
Ownership | None | |
MLS Information | ||
Days on market | 273 | |
MLS Status | Active | |
Listing Date | Feb 19, 2024 | |
Listing Last Modified | Nov 21, 2024 | |
Tax ID | 7423002039 | |
MLS Area | 196 - East Wilmington | |
MLS # | SB24034728 |
This information is believed to be accurate, but without any warranty.