Property Details
About this Property
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 c
MLS Listing Information
MLS #
CRSB24034728
MLS Source
California Regional MLS
Days on Site
310
Parking, School, and Other Information
Water
Other
HOA Fee
$0
Zoning
D0
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
718 N Avalon is in Wilmington, CA 90744. This Land is currently priced at $2,650,000. This address can also be written as 718 N Avalon, Wilmington, CA 90744.
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This listing information is up-to-date as of November 21, 2024. For the most current information, please contact Amie Shepard
