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.
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