Active
718 N Avalon
WILMINGTON CA, 90744
$3,950,000
$90.91 per sqft
Active
1 Acres
Land
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.
SB24034728MR
MLSⓇ ID
February 19, 2024
Listed
April 27, 2024
Updated
Map
718 N Avalon
WILMINGTON CA, 90744
Exterior/Building Features
Lot Size
1 Acres
Other Property Details
Area Name
East Wilmington
Days on Market
67
Garage
No
View
No
View Description
None
County
Los Angeles
Water Source
See Remarks
Pool
No
Zoning
LAC2
Listing History
Date | Event | Price |
---|---|---|
4/27/2024 | Price Change | $3,950,000 -21% |
Listed by Amie Shepard with West Shores Realty, Inc.
Listing Contact: 310-686-4544
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Amalfi Estates shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/27/2024